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Profitability trending toward positive
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Why P&C industry profitability is trending toward positive

January 23, 2023 by Jason Contant

Canada’s property and casualty insurers should see increased overall profitability and premium rate increases as the industry’s 2023 outlook trends to positive, ratings firm DBRS Morningstar said in a new report. “The credit rating trend for the majority of DBRS

Rising interest rates and inflation
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Despite inflation slowing in December, Bank of Canada still expected to hike rates  

January 17, 2023 by Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – Canada’s annual inflation rate slowed last month but economists are still expecting the Bank of Canada to hike its key interest rate next week.   In its latest consumer price index released Tuesday, Statistics Canada said the country’s annual

Economists are expecting a mild recession in Canada.
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Bank economists see mild recession likely ahead despite surprising resilience

January 13, 2023 by The Canadian Press

TORONTO – Big bank economists say the surprisingly resilient economy is likely headed for a mild slowdown in the year ahead, but that recent events show how difficult it is to predict the future. Speaking at an Economic Club of

The Bank of Canada building in Ottawa
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Bank of Canada hikes key rate by half percentage point, signals possible pause

December 7, 2022 by Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – The Bank of Canada hiked its key interest rate by half a percentage point Wednesday to 4.25 per cent – the highest it’s been since January 2008 – while signalling it may pause its aggressive rate hike cycle.

High inflation in Canada
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Bank of Canada expected to end year with one more rate increase

December 2, 2022 by Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – The Bank of Canada is expected to conclude a historic year marked by high inflation and aggressive monetary policy tightening with one more interest rate hike on Wednesday. Forecasters anticipate the central bank will raise its key interest

Businessperson holding a pen on an interactive bar graph, showing upwardly trending results year over year
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Why the hard market may be here to stay

November 15, 2022 by Alyssa DiSabatino

Despite 17 quarters of rate increases, insurers return on equity (ROE) is still below target, and these hard market conditions may not be going anywhere for awhile, a Gallagher executive said during an industry webinar.  Broker’s clients may be able

Cargo containers and inflation concept
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Addressing supply issues not substitute for rate hikes, says Bank of Canada official

November 2, 2022 by The Canadian Press

OTTAWA – Bank of Canada senior deputy governor Carolyn Rogers says addressing supply problems could help ease inflationary pressures but such policies wouldn’t substitute the need for higher interest rates. Rogers and Bank of Canada governor Tiff Macklem appeared before

Bank of Canada governor Tiff Macklem holding a press conference
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Bank of Canada raises interest rate by half percentage point, says more hikes to come

October 26, 2022 by The Canadian Press

OTTAWA – The Bank of Canada hiked its key interest rate by half of a percentage point Wednesday and said rates will need to rise further to clamp down on decades-high inflation. Since March, the central bank has raised its

Trying to rein in inflation
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Canada’s hotter-than-expected inflation reading sets stage for another rate hike

October 19, 2022 by Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – Canada’s latest reading on inflation came in hotter than expected as the cost of groceries continued to climb at the fastest pace in decades, setting the stage for another sizeable interest rate hike next week. In its latest

Aerial view of a container ship passing beneath a suspension bridge. Semi truck with pink cargo container crosses above.
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How de-globalization will generate $33 billion in commercial premiums

September 9, 2022 by David Gambrill

Countries are starting to restructure their supply chains, a ‘de-globalizing’ phenomenon that could generate $33 billion in new global commercial P&C insurance premiums over the next four years, Swiss Re predicted. In one example, ‘re-shoring’ supply chains means moving commercial

Man holding a block with 'quiet quitting' written on it
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Are brokers really ‘quiet-quitting’ if they are doing what they are paid to do?

September 1, 2022 by Jason Contant

HR experts question whether the new workplace trend of ‘quiet quitting’ – only doing as much work as required (no more, no less) in an attempt to restore work-life balance and prevent burnout – is aptly named and reflective of

Concept of economic growth in Canada
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Canadian economic growth lags expectations in Q2; July estimate points to contraction

August 31, 2022 by The Canadian Press

OTTAWA – Economists expect the Bank of Canada to move forward with another aggressive interest rate hike next week after the release of data showing the economy remained in relatively good shape during the second quarter of the year. The