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Intact reports 0.9 percentage point drop in combined ratio in first quarter of 2016

May 4, 2016 by Canadian Underwriter

Intact Financial Corporation (IFC) has reported a 0.9 percentage point drop in its combined ratio for the first quarter of 2016 compared to the same quarter in 2015, led by property lines and improving personal auto results. Toronto-headquartered IFC, the

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Aon reports 3% organic growth in brokerage revenue

May 4, 2016 by Canadian Underwriter

Aon plc recently reported a 1% drop year-over-year drop in its first-quarter commissions, fees and other revenue from its insurance brokerage business, driven mainly by currency fluctuations. London-based Aon released April 29 its financial results for the three months ending

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AIG reports after-tax operating income of US$773 million in Q1 2016

May 3, 2016 by Canadian Underwriter

American International Group, Inc. (AIG) has reported a slight decrease in its Property Casualty combined ratio in the first quarter of 2016, down from 97.1% in Q1 2015 to 96.9% in the latest quarter. AIG released its financial results on

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Swiss Re reports net income of US$1.2 billion in Q1 2016

May 2, 2016 by Canadian Underwriter

Swiss Re has reported a net income of US$1.2 billion in Q1 2016, down from US$1.4 billion reported in the prior-year period, but “supported by solid underwriting and strong investment results.” Net income for Property and Casualty Reinsurance was US$587

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Combined ratio up 0.5 points for Arch Capital

April 28, 2016 by Canadian Underwriter

Arch Capital Group Ltd. reported Wednesday a 0.5-point increase in its combined ratio, a 4.2% increase in first-quarter gross written premiums in insurance and a 0.8% drop in Q1 gross written premiums in reinsurance. Pembroke, Bermuda-based Arch released Wednesday its

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U.S. commercial auto insurance “a chronic underperformer”: Fitch Ratings

April 28, 2016 by Canadian Underwriter

Commercial auto insurance in the United States has evolved into a “chronically underperforming product segment” for P&C insurers in the country, according to Fitch Ratings. While the P&C industry has reported three consecutive years of significant underwriting profits, the commercial

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Revenue for U.S./Canada Marsh division of Marsh & McLennan Companies up to US$701 million in Q1 2016 from US$638 million in Q1 2015

April 28, 2016 by Canadian Underwriter

Revenue for the United States/Canada Marsh division of Marsh & McLennan Companies, Inc. (MMC), was up to US$701 million for the first quarter of 2016 ending March 31, from US$638 million in the first quarter of 2015, the global professional

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XL Group combined ratio up 3.6 points in Q1 2016

April 28, 2016 by Canadian Underwriter

XL Group plc has reported a P&C combined ratio of 92.5% for the first quarter of 2016 ending March 31, up from 88.9% in the prior-year quarter. Dublin, Ireland-based XL Group released its financial results on Wednesday, noting that the P&C

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Traditional reinsurance capital dropped 3.5% in 2015 from 2014: Willis Re

April 27, 2016 by Canadian Underwriter

2015 saw a 3.5% reduction in traditional capital dedicated to reinsurance, down US$13 billion from US$370 billion at year-end 2014, according to the latest Reinsurance Market Report from Willis Re, the reinsurance business of global advisory, broking and solutions company

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Gross written premiums up 16% at Axis Capital

April 27, 2016 by Canadian Underwriter

Axis Capital Holdings Ltd. reported Wednesday a 91% year-over-year increase in first-quarter gross written premiums in aviation insurance and a 19.7% drop in marine premiums, while its combined ratio improved 1.8 points. Pembroke, Bermuda-based Axis Capital released its financial results

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Reinsurance company SCOR’s net income falls slightly to 170 million euros in the first quarter of 2016 compared to prior-year quarter

April 27, 2016 by Canadian Underwriter

Despite a low natural catastrophe-loss environment that helped SCOR’s Global Property and Casualty segment record strong technical profitability and a solid contribution from the Life segment for gross written premiums, the company’s net income fell slightly to 170 million euros

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Everest Re Group’s net income almost halved to US$171.7 million in 2016 Q1 from prior-year quarter

April 26, 2016 by Canadian Underwriter

Net income available to common shareholders of Everest Re Group Ltd. was US$171.7 million in the first quarter of 2016 compared to US$323.0 million in the same quarter of 2015, the company reported Monday. The after-tax operating income available to