Canadian Underwriter

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Earnings / Ratings


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Bank of Canada holds rate, suggests more hikes likely at more cautious pace

October 25, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Bank of Canada left its benchmark interest rate unchanged Wednesday following two straight hikes, but suggested future increases are still likely, albeit at a more-gradual pace. In its scheduled announcement, the central bank said it held off

News CatastrophesEarnings / RatingsInsuranceReinsurance

P&C combined ratio for XL Group up to 146.9% in third quarter

October 25, 2017 by Canadian Underwriter

XL Group Ltd. has reported a P&C combined ratio of 146.9% for the third quarter of 2017 ending Sept. 30, as natural catastrophe losses largely attributed to Hurricanes Harvey, Irma and Maria took their toll. Excluding prior-year development and nat

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

U.S. inland marine industry one of the “most profitable and consistent” lines: A.M. Best

October 24, 2017 by Canadian Underwriter

The inland marine insurance industry has been one of the most profitable and consistent lines of business in the property and casualty industry over the past decade, according to a new special report from ratings firm A.M. Best Company. The

News Earnings / RatingsInsurance

Manitoba Public Insurance reports net income of $42.3 million

October 17, 2017 by Canadian Underwriter

Manitoba Public Insurance has reported a net income of $42.3 million for the six months of its fiscal year ending Aug. 31, 2017 – an increase of $69.2 million over the same period last year. This amount includes net income

News CatastrophesClaimsEarnings / RatingsInsuranceMarkets / Coverages

Actual U.S. homeowners’ loss ratio 10 points lower than modeled expected over past 10 years: Aon

October 16, 2017 by Canadian Underwriter

The catastrophe loss ratio, over 10 years, was 10 points lower than the modeled expected cat loss ratio in homeowners’ insurance in the United States, Aon plc suggested in a report released Monday. Aon Benfield Analytics released Monday its annual

News Earnings / RatingsInsuranceLegislation / RegulationMarkets / Coverages

Brokers bend MPs’ ears over proposed tax changes

October 13, 2017 by Canadian Underwriter

Insurance brokers are among the professionals expressing concern over proposed changes to federal taxes on business income, a Saskatchewan member of parliament said recently. On October 6, the majority of House of Commons members voted against continuing consultations on proposed

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Megadeals, political instability and strong equity markets deliver M&A underperformance for insurers: WTW

October 6, 2017 by Canadian Underwriter

Insurers undertaking mergers and acquisitions (M&A) in 2016 underperformed their non-acquisitive peers for the first time since 2010, Willis Towers Watson (WTW) reported earlier this week. According to WTW’s latest Insurance M&A Performance Tracker – based on analysis of deals

News Earnings / RatingsInsuranceMarkets / Coverages

Cyber contributes to premium growth in Lloyd’s market

September 29, 2017 by Canadian Underwriter

The Lloyd’s market had a 1.1-point improvement in its combined ratio for the first six months of the year, while gross written premiums were up 16%, with professional lines in the United States, cyber and political risk among the lines

News Earnings / RatingsInsurance

After hiking twice, there’s ‘no predetermined path’ for rates from here: Bank of Canada’s Poloz

September 28, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The head of the Bank of Canada says that after two interest-rate hikes this summer there is “no predetermined path” for the benchmark going forward. In a speech Wednesday, governor Stephen Poloz said many unknowns and external risks

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Canadian P&C industry’s combined ratio improves seven points in Q2 2017 to 97.7%: MSA

September 28, 2017 by Canadian Underwriter

The Canadian P&C industry’s combined ratio improved 7.06% in the second quarter of this year from the same quarter last year to 97.71% from 104.77%, according to the MSA Quarterly Outlook Report, released on Thursday. “What a difference a year

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

U.S. commercial insurance prices remain nearly flat in the second quarter: Willis Towers Watson survey

September 11, 2017 by Canadian Underwriter

Commercial insurance prices in the United States were again nearly flat during the second quarter of 2017, global advisory, broking and solutions company Willis Towers Watson (WTW) reported on Monday. For the eight quarter in a row, price changes were

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

New rating methodology from A.M. Best expected in Q4

September 8, 2017 Greg Meckbach, Associate Editor

A.M. Best Company Inc. expects its new methodology – which will yield five different scores for capital adequacy ratio – will become effective early in the fourth quarter but will not be a “fundamental change” to how the ratings firm