Topic
Markets / Coverages
Overall reinsurance sector outlook negative for 2016; major Tier 1 and small mono-line companies diverge: Fitch Ratings
September 4, 2015 by Canadian UnderwriterThe sector outlook for the reinsurance industry is negative for 2016, but major Tier 1 reinsurers with strong franchises and market positions are well-placed to adapt to – and profit from – the changing reinsurance landscape and mounting competitive pressures,…
Berkshire Hathaway sees net income drop 37% in 2015 Q2 over 2014 Q2
August 10, 2015 by Canadian UnderwriterNet earnings for Berkshire Hathaway Inc. dropped 37% to US$4.1 billion in the second quarter of 2015 from the same quarter of 2014, driven, in part, by the underwriting loss in the company’s Insurance segment. Net earnings for 2015 Q2…
Combined ratio up 3.4 points at Zurich Insurance
August 7, 2015 by Canadian UnderwriterZurich Insurance Group Ltd. released Thursday its financial results for the six months and three months ending June 30, reporting a 3.4 deterioration in its Q2 combined ratio in the midst of large losses in general insurance, with chief executive…
Total revenues up 7.1% in first half of 2015 for Allianz Group, from 63.4 billion euros to 67.9 billion euros
August 7, 2015 by Canadian UnderwriterAllianz Group has reported a 7.1% increase in total revenues for the first half of the year, from 63.4 billion euros in 1H 2014 to 67.9 billion euros for the six months ending June 30. Operating profit climbed 3.7% to…
Combined ratio improves 5.5 points at Aviva Canada
August 6, 2015 by Canadian UnderwriterAviva plc released Thursday its interim financial results for the first six months of the year, reporting a 1% increase in general insurance premiums from its Canadian business and a 5.5-point improvement in its combined ratio. “Our Canadian general insurance…
Economical Insurance records combined ratio of 95.9%, net income of $33.8 million for second quarter of 2015
August 6, 2015 by Canadian UnderwriterWaterloo, Ont.-based property and casualty insurer Economical Insurance has recorded a combined ratio of 95.9% and net income of $33.8 million for the second quarter of 2015, ending June 30. Economical Insurance released its second quarter and first half results…
RSA Group reports strongest first half underwriting performance in Canada in 10 years
August 6, 2015 by Canadian UnderwriterRSA Group has reported an underwriting profit for Canada of 56 million pounds (£) for the first half of the year, ending June 30, with a combined ratio of 92.3% from 100.7% in the first half of 2014. Underwriting profit…
AIG announces net income of US$1.8 billion for the second quarter of 2015
August 4, 2015 by Canadian UnderwriterAmerican International Group, Inc. (AIG) has reported net income attributable to the company at US$1.8 billion for the second quarter of 2015 ending June 30, compared to US$3.1 billion in the same quarter of 2014. After-tax operating income was US$1.9…
Allstate revenues up 4.7% to nearly US$9 billion in second quarter of 2015
August 4, 2015 by Canadian UnderwriterThe Allstate Corporation has reported US$8.98 billion in revenues for the second quarter of 2015, reflecting a 4.7% increase in insurance premiums from the prior year quarter, while net income was US$326 million for the quarter and US$974 million for…
XL Group’s operating net income US$245.8 million in 2015 Q2
August 4, 2015 by Canadian UnderwriterXL Group plc posted operating net income of US$245.8 million in 2015 Q2, down US$33.8 million from 2014 Q2, but company CEO Mike McGavick reports that he is pleased with progress made to date for combined XL Catlin. XL Group’s…
General insurance premiums up 2.6% for Industrial Alliance
July 30, 2015 by Canadian UnderwriterIndustrial Alliance Insurance and Financial Services Inc. of Quebec City released Thursday its financial results for the second quarter, reporting a 2.6% increase, year-to-year, in premiums from general insurance and a 21% increase in net earnings. In general insurance, Industrial…
Arch Capital Group reports drop in net income for Q2 2015
July 30, 2015 by Canadian UnderwriterArch Capital Group Ltd. has reported a net income of US$110.3 million for the second quarter of 2015 (ending June 30), compared to US$202.5 million for Q2 2014 and a combined underwriting ratio of 87.9%, compared to 86.2% for the…