Topic
Earnings / Ratings
Q2 combined ratio up 5.3 points at Axis Capital
July 27, 2016 by Canadian UnderwriterReinsurance provider and commercial specialty carrier Axis Capital Holdings Ltd. reported Tuesday its financial results for the second quarter, reporting a 76% increase in net income but a combined ratio of 102.2%, after large losses including the Alberta wildfires and…
Intact reports $127 million loss from Fort McMurray wildfire, combined ratio up to 99.2% in Q2
July 27, 2016 by Canadian UnderwriterIntact Financial Corporation (IFC) reported a $127 million impact in its second quarter financial results from the Fort McMurray wildfire, bringing its combined ratio to 99.2% for the quarter, including 8.8. points of Fort McMurray catastrophe losses. “We delivered $114…
Jardine Lloyd Thompson Group’s £36.2 million profit for 2016 H1 half of prior-year period: interim results
July 27, 2016 by Canadian UnderwriterCollaboration among its Specialty operations around the world is driving organic revenue growth for Jardine Lloyd Thompson Group plc (JLT), but the £36.2 million in profit for the first half of 2016 is half the £77.7 million for the same…
Q2 combined ratio climbs 7.1 points for Everest Re after Alberta wildfire, Texas hail, Ecuador quake
July 26, 2016 by Canadian UnderwriterEverest Re Group Ltd. announced Monday that the net impact of three catastrophes – including the Fort McMurray wildfire – was $105.4 million in the three months ending June 30. “Catastrophe losses, net of reinsurance, amounted to $123.8 million in…
Kingsway Financial Services reports operating loss of US$1.1 million for Q2 2016, slight operating income for underwriting segment
July 22, 2016 by Canadian UnderwriterToronto-based Kingsway Financial Services Inc. has reported an operating loss of US$1.1 million for the second quarter of 2016 ending June 30, compared to US$2.5 million for the second quarter of 2015. Kingsway released its financial results on Friday, indicating…
Q2 catastrophe losses up 50.6% for Travelers after hail, wildfires
July 21, 2016 by Canadian UnderwriterThe Travelers Companies Inc. reported Thursday its combined ratio deteriorated 2.3 points, it renewed July 1 a property catastrophe reinsurance contract for Canada covering losses between $200 and $600 million (plus 50% of losses over $100 million), and that it…
Higher prices from Fort McMurray wildfire to boost Q2 energy company results
July 21, 2016 Dan Healing - THE CANADIAN PRESSCALGARY – Analysts predict oil prices driven higher by production stoppages during the Fort McMurray, Alta., wildfires in May will bolster the bottom lines of Canadian oil and gas companies as they report financial results starting this week. Western Canada…
Allied World reports $10.3 million in reinsurance catastrophe losses from Fort McMurray wildfire
July 20, 2016 by Canadian UnderwriterAllied World Assurance Company Holdings AG reported Tuesday a 7.2-point improvement in its combined ratio, while the Fort McMurray, Alberta wildfires cost the carrier about $10.3 million and hail storms in Texas cost its reinsurance segment about $6 million and…
SGI Canada reports underwriting income of $42 million for 15 months ending March 31
July 19, 2016 by Canadian UnderwriterSaskatchewan Government Insurance announced Monday that the province’s Auto Fund had an underwriting loss of $11.1 million for the 15 months ending March 31, 2016, while SGI Canada, the competitive arm of SGI, had underwriting income of $42 million during…
Q1 claims costs up 48.1% at Manitoba Public Insurance
July 19, 2016 by Canadian UnderwriterManitoba Public Insurance Corp., the crown corporation that writes auto insurance in the province, reported Friday its underwriting loss was $33.8 million during the three months ending May 31. MPI had reported underwriting income of $40.73 million in the three…
Argo Group International Holdings Ltd., Blue Capital Reinsurance Holdings Ltd. report Alberta wildfires will have second-quarter impact
July 18, 2016 by Canadian UnderwriterEstimated losses from the Fort McMurray wildfires have hit another two companies operating in the reinsurance industry, with Bermuda-based Argo Group International Holdings Ltd. and Blue Capital Reinsurance Holdings Ltd. reporting late last week the event will have an impact…
Endurance’s estimated financial impact of several Cat events in 2016 Q2, including Alberta wildfires, is US$55.5 million
July 15, 2016 by Canadian UnderwriterBermuda-based Endurance Specialty Holdings Ltd. reported Thursday that the company’s initial estimated net negative financial impact of several catastrophic events in 2016 Q2, including the wildfires in Alberta, is US$55.5 million. The events included in the initial estimate include the…