Keyword
Catastrophes
SGI Canada customers evacuated by Saskatchewan wildfires have mass evacuation coverage
September 5, 2017 by Canadian UnderwriterSGI Canada policyholders in areas affected by the wildfires in northern Saskatchewan will have mass evacuation coverage in place for 30 days and should be assured that personal and commercial property policies will not be cancelled for 30 days in…
CNA Financial net income in 2017 Q2 up over 2016 Q2, combined ratio also improves
July 31, 2017 by Canadian UnderwriterCNA Financial Corporation saw both net income and net operating income increase in the second quarter of 2017 compared to the corresponding quarter of 2016, an improvement matched by the company’s Property & Casualty combined ratio. Net income increased to…
Combined ratio for Canadian insurance industry in Q1 2017 estimated at 101.3%, up from 94.7% in Q1 2016: Baker
May 24, 2017 Jason Contant, Online EditorThe insurance industry in Canada saw a 6.6% hike in the combined operating ratio for the first quarter of 2017, from 94.7% in Q1 2016 to 101.3% in the first three months of this year, MSA Research Inc. president and…
Hannover Re Group net income down 2.4% to 264.8 million euros in 2017 Q1 compared to 2016 Q1
May 10, 2017 by Canadian UnderwriterGroup net income for Hannover Re contracted to 264.8 million euros in the first quarter of 2017, but was in line with the prior-year quarter’s exceptionally good results, positioning the reinsurer well for achieving its financial targets this year. Group…
Economical Insurance posts net income of $5.3 million in 2017 Q1, down from $28.5 million in prior-year quarter
May 8, 2017 by Canadian UnderwriterAuto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was…
Southern U.S. crop losses from March storm could exceed $1 billion: Aon
April 7, 2017 by Canadian UnderwriterA weather system that brought sub-freezing temperatures to South Carolina and Georgia, as well as heavy rains in Peru were among the catastrophes with economic losses exceeding $1 billion in March, Aon plc’s Impact Forecasting unit reported Friday in its…
Munich Re operating result down in 2016 from 2015, new partnerships could answer changing client demands
March 16, 2017 by Canadian UnderwriterMunich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in…
RSA Canada posts solid underwriting profit despite nat-Cat events in 2016
February 24, 2017 by Angela StelmakowichRSA Canada witnessed increased underwriting profit and a solid combined ratio for 2016 despite what can only be described as a challenging year that featured Canada’s most costly insurable nat-Cat ever and a host of other adverse weather events. “We’re…
AIG sees net loss of about US$3 billion in 2016 Q4
February 15, 2017 by Canadian UnderwriterAmerican International Group, Inc. (AIG) has posted net losses for both the full year and the fourth quarter of 2016, but company president and CEO Peter Hancock reports that actions taken last year will help “dramatically reduce uncertainty and deliver…
2016 sees highest-ever catastrophe insured losses, hail has impact: Rennie
February 1, 2017 by Angela Stelmakowich2016 was a year of records: the largest catastrophe-related insured losses in Canada’s history, the biggest loss for a single Cat and the most hail events in the month of July, Carolyn Rennie, managing director of Catastrophe Indices and Quantification…
Canada becoming less attractive option for investors: Cook
January 11, 2017 by Angela StelmakowichAnticipated less-than-stellar financial results for Canada’s property and casualty industry in 2016 will likely contribute to the market becoming less attractive to investors and absent significant improvement, it is unlikely the current level of capital will remain in the country,…
Loss ratio for Canadian commercial insurers deteriorates in accident year 2016 compared to same period in 2015: Willis Towers Watson survey
January 11, 2017 by Canadian UnderwriterReported claim cost information for Canadian commercial insurers reveals a deterioration in loss ratio of 38.4% in accident year 2016 compared to the same period in 2015, according to Willis Towers Watson’s (WTW) Commercial Lines Insurance Pricing Survey – Canada…