Majority of Canadian P&C market reports 2009 underwriting loss: MSA Research

More than half (51%) of the 216 insurance companies reporting 2009 year-end data to MSA Research posted an underwriting income for the year.
Eighty-eight of the 216 companies reported a combined ratio of 100% or more.
MSA Research has posted a summary of the 2009 year-end results on its Web site (www.msaresearch.com). The summary represents about 95% of the Canadian market.
A sampling of the 2009 year-end results of individual companies that reported more than $1 billion in net written premiums include (in alphabetical order):
•    Aviva Insurance Company of Canada
Net Premium Written: $1.6 billion
Underwriting Income: $92.6 million loss
Net Income: $15 million
Combined ratio: 106.4%

•    Co-Operators General
Net Premium Written: $1.4 billion
Underwriting Income: $31.7 million loss
Net Income: $74 million
Combined Ratio: 102.3%

•    Dominion of Canada
Net Premium Written: $1.1 billion
Underwriting Income: $144 million loss
Net Income: $151 million loss
Combined Ratio: 113.3%

•    Economical Mutual
Net Premium Written: $1.4 billion
Underwriting Income: $111.8 million loss
Net Income: $24.1 million
Combined Ratio: 107.9%

•    Intact Insurance Company
Net Premium Written: $1.7 billion
Underwriting Income: $4.9 million
Net Income: $12.6 million
Combined Ratio: 99.7%

•    State Farm Mutual Auto
Net Premiums Written: $1.4 billion
Underwriting Income: $478 million loss
Net Income: $220 million loss
Combined Ratio: 135.5%

•    Security National Insurance Company (TD Assurance)
Net Premiums Written: $1.2 billion
Underwriting Income: $59 million loss
Net Income: $68.6 million
Combined Ratio: 105.1%

•    Wawanesa Mutual Insurance Company
Net Premiums Written: $1.8 billion
Underwriting Income: $68 million loss
Net Income: $99.6 million
Combined Ratio: 104.1%