Canadian Underwriter

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Cat bond issuance in Q2 reaches US$6.38 billion across 20 transactions, easily surpassing Q2 2014 record of US$4.49 billion: Aon Securities

August 4, 2017 by Canadian Underwriter

Catastrophe bond issuance during the second quarter of 2017 totalled US$6.38 billion across 20 transactions, a new record for quarterly issuance that easily surpassed the previous record of US$4.49 billion set in Q2 2014, Aon Securities said in a new

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Q2 commission, fee growth flat at Willis Towers Watson

August 4, 2017 by Canadian Underwriter

Willis Towers Watson plc reported Thursday its commissions and fees from corporate risk and broking were $624 million during the three months ending June 30, a slight drop from $627 million during the same period in 2016. “North America organic

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Net income for Swiss Re US$1.2 billion in 2017 H1, down from about US$1.9 billion in 2016 H1

August 4, 2017 by Canadian Underwriter

Disciplined underwriting and strong investment returns contributed to Swiss Re recording net income of US$1.2 billion for the first half of 2017, although catastrophe claims served to reduce the total from the comparable period in 2016. Net income for Swiss

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Intact has yet to see ‘full impact’ of 2016 change to Ontario auto catastrophic impairment criteria

August 3, 2017 by Canadian Underwriter

It has been more than a year since Ontario changed its criteria for catastrophic impairment and reduced the mandatory coverage for accident benefits, but the “long tail profile” of accident benefits claims means the Ontario reforms “have not fully been

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Aviva plc reports combined ratio of 98.9% for Canada in H1 2017, up three points from H1 2016

August 3, 2017 by Canadian Underwriter

Aviva plc has reported a general insurance combined operating ratio (COR) of 98.9% for Canada for the first six months of the year ending June 30, up three points from 95.9% in the first six months of last year. For

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Commercial premiums down 15% for AIG

August 3, 2017 by Canadian Underwriter

American International Group Inc. reported Wednesday its net income was $1.13 billion during the three months ending June 30 and its Q2 combined ratio in personal insurance improved 5.9 points from last year, but the combined ratio in commercial insurance

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Intact CEO hopes B.C. is ‘starting to think about introducing more competition’ in auto insurance

August 2, 2017 by Canadian Underwriter

Nine days after Insurance Corporation of British Columbia released a report it commissioned to Ernst & Young LLP on reforming auto insurance, the chief executive officer of Intact Financial Corp. suggested it is “better to have a competitive marketplace” in

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Allstate reports Property-Liability combined ratio of 97.2% in Q2 2017, a 3.6% improvement from 100.8% in Q2 2016

August 2, 2017 by Canadian Underwriter

The Allstate Corporation has reported a Property-Liability (P-L) combined ratio of 97.2% for the second quarter of 2017 ending June 30, a 3.6% improvement from 100.8% in Q2 2016. Northbrook, Ill.-based Allstate released its financial results for the quarter and

News Earnings / RatingsInsuranceMarkets / Coverages

RSA reports combined ratio of 94.8% for first half of 2017 in Canada ‘despite higher large losses’

August 2, 2017 by Canadian Underwriter

RSA Insurance Group plc reported Wednesday that its net premiums written in Canada during the six months ending June 30 were 5% higher, on a constant rate of exchange basis, than in the same period in 2016. Meanwhile, in Canada,

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Q2 combined ratio improves 4.2 points for Intact, OneBeacon acquisition “on track to close” in 2017

August 1, 2017 by Canadian Underwriter

Intact Financial Corp. reported Tuesday its underwriting income was $103 million during the three months ending June 30, up $87 million from $16 million during the same period in 2016. Toronto-based Intact said direct premiums written rose 2%, from $2.458

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Absence of large losses contributes to 20.6-point drop in Q2 combined ratio for PartnerRe

August 1, 2017 by Canadian Underwriter

PartnerRe Ltd. reported a combined ratio of 87.7% during the three months ending June 30, a 20.6-point improvement over 108.3% during the same period in 2016, when Canada experienced its most expensive natural disaster ever and a loss from an

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Risk and insurance revenue up 12% for Jardine Lloyd Thompson

July 31, 2017 by Canadian Underwriter

Jardine Lloyd Thompson Group PLC recently released its financial results for the first six months of this year, reporting a 3% drop, on a constant rate of exchange, of risk and insurance revenue in Canada. London-based JLT reported July 27