Canadian Underwriter

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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

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

‘Persistent low interest rate environment’ among factors affecting Canadian P&C financial performance in 2016: A.M. Best

September 6, 2017 Greg Meckbach, Associate Editor

As the Bank of Canada announced Wednesday its second rate hike in less than two months, an analyst with A.M. Best Company Inc. suggested to industry professionals that  a 2.1-point increase in the industry-wide operating ratio in the Canadian property

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Auto personal accident loss ratio up for fourth year in a row in Canada: A.M. Best

September 5, 2017 by Canadian Underwriter

The auto personal accident loss ratio in Canada “remains a concern,” with Canadian auto insurers being affected by distracted driving and rising repair costs, A.M. Best Company Inc. suggested in a recent report. In 2016, ratings firm A.M. Best said

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Surprising growth surge forces forecasters to revisit Canadian economic predictions

September 5, 2017 The Canadian Press (CPSTF)

OTTAWA – The economy’s surprisingly powerful second-quarter performance is pushing forecasters to change their outlooks – starting with predictions for Wednesday’s central bank rate announcement. Fresh data released last week showed the economy expanded at an annual pace of 4.5

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

A.M. Best has ‘significant concerns’ about global reinsurance industry after 2016 accident year combined ratio tops 100%

September 5, 2017 by Canadian Underwriter

The global reinsurance market is “far from thriving” and while the Lloyd’s market “maintains an excellent business profile,” its accident year combined ratio in reinsurance exceeded 100, A.M. Best Company Inc. said in a report released Tuesday. Each September, Oldwick,