Canadian Underwriter

Keyword
Charles Brindamour

News Insurance

How Intact responded when asked about Ontario election outcomes

April 2, 2018 by Greg Meckbach

Ontario auto insurers face “a wide range of outcomes” with an election scheduled this June, says the head of Canada’s largest property and casualty insurer. The worst case scenario would see a political climate ill-suited to writing auto insurance in

News InsuranceMarkets / Coverages

Why Intact plans to raise auto insurance premiums

February 12, 2018 by Greg Meckbach

Intact Financial Corp. plans to apply nation-wide for rate increases in personal auto, a move to improve the firm’s profitability in personal auto insurance. “In terms of additional rate actions in 2018, we are expecting a further 5% [increase] in

News AnnouncementsAppointmentsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Intact completes acquisition of U.S. specialty insurer OneBeacon, announces executive appointment

September 28, 2017 by Canadian Underwriter

Intact Financial Corporation (IFC) announced on Thursday that it has completed its $2.3 billion (US$1.7 billion) acquisition of U.S. specialty insurer OneBeacon Insurance Group, Ltd. The acquisition makes IFC “a leading provider of specialty insurance in North America with over

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Intact has yet to see ‘full impact’ of 2016 change to Ontario auto catastrophic impairment criteria

August 3, 2017 by Canadian Underwriter

It has been more than a year since Ontario changed its criteria for catastrophic impairment and reduced the mandatory coverage for accident benefits, but the “long tail profile” of accident benefits claims means the Ontario reforms “have not fully been

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Intact CEO hopes B.C. is ‘starting to think about introducing more competition’ in auto insurance

August 2, 2017 by Canadian Underwriter

Nine days after Insurance Corporation of British Columbia released a report it commissioned to Ernst & Young LLP on reforming auto insurance, the chief executive officer of Intact Financial Corp. suggested it is “better to have a competitive marketplace” in

News AssociationsCatastrophesClimate ChangeMergers and AqcuisitionsReinsurance

Intact Financial Corporation announces $105 million Cat loss for 2017 Q2

July 6, 2017 by Canadian Underwriter

Intact Financial Corporation’s (IFC) estimated catastrophe losses, net of reinsurance, for 2017 Q2 is about $105 million on a pre-tax basis, reports Canada’s largest provider of property and casualty. On an after-tax basis, the estimated loss amounts to $77 million

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProductsReinsurance

Intact to acquire U.S. specialty insurer OneBeacon Insurance Group for US$1.7 billion

May 3, 2017 by Canadian Underwriter

Intact Financial Corporation has announced that it intends to acquire OneBeacon Insurance Group, Ltd., a specialty insurer in the United States, for US$1.7 billion. Intact declared on Tuesday that it has entered into a definitive agreement and plan of merger

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Personal auto premiums for Q3 up 5% for Intact, personal property premiums up by 8%

November 2, 2016 by Canadian Underwriter

Intact Financial Corporation (IFC) has reported that personal auto premiums for the third quarter of 2016 ending Sept. 30 grew by 5%, while personal property premiums grew by 8% from the prior-year quarter. IFC said in its financial results released

News CatastrophesInsuranceMergers and Aqcuisitions

Intact estimates $170 million in cat losses for third quarter of 2016

October 4, 2016 by Canadian Underwriter

Intact Financial Corporation (IFC) has announced estimated catastrophe losses, net of reinsurance, of approximately $170 million on a pre-tax basis for the third quarter of 2016. The estimate equates to about $124 million or $0.95 per share for the quarter,

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Intact reports $127 million loss from Fort McMurray wildfire, combined ratio up to 99.2% in Q2

July 27, 2016 by Canadian Underwriter

Intact Financial Corporation (IFC) reported a $127 million impact in its second quarter financial results from the Fort McMurray wildfire, bringing its combined ratio to 99.2% for the quarter, including 8.8. points of Fort McMurray catastrophe losses. “We delivered $114

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and Aqcuisitions

Fort McMurray wildfire could hurt 2016 Q2 results for some Canadian p&c insurers, companies offering help

May 9, 2016 by Angela Stelmakowich

Credit rating agency Moody’s does not anticipate the massive wildfire in and around Fort McMurray will be a credit event for Canada’s property and casualty industry, but is likely to have an impact on 2016 Q2 results for property insurers.