Topic
Earnings / Ratings
Persisting low interest rates, regulatory cost concerns expected to result in lower returns: U.S. insurers
July 15, 2016 by Canadian UnderwriterAbout three-quarters of polled insurers south of the border “have lowered their target return-on-equity expectations to 10% or lower,” notes a new special report released Thursday by A.M. Best. The lowered expectations are “a reflection of highly competitive market conditions…
U.S. private p&c insurers’ net income falls 26.6% in Q1 2016, combined ratio up 1.8%: Verisk
July 14, 2016 by Canadian UnderwriterPrivate property and casualty insurers in the United States saw their net income after taxes fall to US$13.3 billion in first-quarter of 2016 from US$18.1 billion in first-quarter 2015, a 26.6% decline, according to data from ISO, a Verisk Analytics…
Bank of Canada says fires in Fort McMurray, Alta., put economy in reverse
July 13, 2016 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The Bank of Canada is cutting its economic outlook for the year, saying the extensive damage from the Alberta wildfires will result in an economic contraction in the second quarter. The central bank’s forecast was released Wednesday along…
Higher catastrophe losses, lower investment income fuel reduced growth in underwriting gain for U.S. p&c insurance
July 11, 2016 by Canadian UnderwriterThe highest level of catastrophe losses in five years contributed to the U.S. property and casualty insurance industry witnessing deteriorated underwriting results in the first quarter of 2016 compared to the prior-year quarter, notes a special report issued Friday by…
RBC completes sale of RBC General Insurance Company to Aviva Canada
July 4, 2016 by Canadian UnderwriterRoyal Bank of Canada announced Canada Day that the company has completed the previously announced sale of RBC General Insurance Company to Aviva Canada Inc. The RBC Insurance offerings involved in the sale include certain home and auto insurance manufacturing…
Canadian politicians agree in principle to increase employers’ Canada Pension Plan contributions
June 27, 2016 by Canadian UnderwriterLess than a month after Ontario passed a law mandating participation for some employees in a province-sponsored pension plan, most of Canada’s premiers signed an agreement in principle, with the federal government, to increase contributions to the Canada Pension Plan.…
London insurance market “well-positioned” to respond to Brexit, but decision could be “moderately credit negative”
June 24, 2016 by Canadian UnderwriterThe London insurance market is resilient and well-positioned to respond to the United Kingdom’s decision to leave the European Union (EU), the International Underwriting Association of London (IUA) said on Friday. In a referendum held on Thursday, about 52% voted…
Flood losses expected to dampen French, German insurers’ first-half earnings: A.M. Best
June 21, 2016 by Canadian UnderwriterFlood losses in the wake of storms Elvira and Friederike in late May and early June are not expected to result in ratings actions, but it is anticipated they will hit first-half results for French and German insurers, notes a…
Fed leaves rates unchanged; no hint on timing of next hike
June 15, 2016 Martin Crutsinger - THE ASSOCIATED PRESSWASHINGTON – The Federal Reserve is keeping interest rates unchanged in light of an uncertain job market and offering no hints of when its next rate hike might occur. The Fed noted in a statement Wednesday after its latest policy…
U.S. commercial insurance prices rose less than 1% in first quarter: Willis Towers Watson
June 13, 2016 by Canadian UnderwriterCommercial insurance prices in the United States increased modestly in aggregate – less than 1% – during the first quarter of 2016, continuing a three-year trend of smaller increases, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) by…
Sizable U.S. property insurance price hike only expected in wake of a record hurricane year: Fitch
June 2, 2016 by Canadian UnderwriterHurricane losses in the United States equal to at least 15% of industry aggregate surplus in 2016 would likely promote a shift toward positive pricing movement, although any upward movement would be dampened by existing underwriting capacity for primary and…
Global P&C insurance market forecast to grow at a compound annual growth rate of 5.77% from 2016 to 2020
May 31, 2016 by Canadian UnderwriterThe global property and casualty insurance market is forecast to grow at a compound annual growth rate (CAGR) of 5.77% during the period of 2016 to 2020, according to a new report from Research and Markets. The report from the…