Canadian Underwriter

Keyword
combined ratio

News Earnings / RatingsInsurance

Insurer losses not yet translating into property price hikes: broker

March 24, 2018 by Greg Meckbach

Brokers expecting to see price hikes in property lines after last year’s devastating hurricanes may have good news for clients, at least in the short term. “Long term, all of the carriers will need to increase pricing and they would

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 CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Why Canadian insurers should feel lucky after 2017

January 3, 2018 by Greg Meckbach

After a year of massive North Atlantic hurricane losses, Canadian P&C insurers may have dodged a bullet with this year’s renewal season. Reinsurers licensed in Canada “were the main beneficiaries of the relatively quiet Canadian CAT year,” wrote Joel Baker,

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Blame auto losses for lackluster 2017 P&C results

January 2, 2018 by Greg Meckbach

Despite a “relatively benign” year in Canada for catastrophes in 2017, the industry-wide combined ratio in Canada was still fairly high at 96.8% during the first nine months of last year, with auto results partly to blame, MSA Research reported

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

Munich Re reports Q3 combined ratio of 160.9%, predicts 112% for full year

November 9, 2017 by Canadian Underwriter

Despite losing about 2.7 billion euros on three recent North Atlantic hurricanes alone, Munich Re said Thursday it is “expecting to generate a small profit” this year. Munich Re released its financial results for the period ending Sept. 30, reporting

News Earnings / RatingsInsuranceMarkets / Coverages

Q3 combined ratio improves 0.8 points at Allstate

November 7, 2017 by Canadian Underwriter

Despite the recent losses to the industry from multiple North Atlantic hurricanes, The Allstate Corp. has reported underwriting income is up more than 20%, from $355 million in the third quarter of 2016 to $429 million in the three months

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsurance

Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3

November 6, 2017 by Canadian Underwriter

The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

Commercial premiums down 13% for AIG

November 3, 2017 by Canadian Underwriter

American International Group Inc. announced Thursday its combined ratio in commercial insurance was 195.4% in the three months ending Sept. 30, up 89.6 points from 105.8% in Q3 2016. New York City-based AIG confirmed Thursday an earlier-released estimate, of $3

News Earnings / RatingsInsurance

Combined ratio deteriorates 38.9 points for Fairfax amid hurricane losses

November 3, 2017 by Canadian Underwriter

Fairfax Financial Holdings Ltd. has reported an underwriting loss of $833 million during the three months ending September 30, with its insurers’ share of losses from three recent hurricanes and an earthquake in Mexico amounting to $960 million. All figures

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsuranceReinsurance

Cats a significant driver in Everest Re Group’s posting US$639.4 million net loss in 2017 Q3

October 31, 2017 by Canadian Underwriter

Losses from hurricanes Harvey, Irma, Maria (HIM) and the Mexico City earthquake contributed to Everest Re Group, Ltd. posting a US$639.4 million net loss for 2017 Q3 compared to net income of US$295.4 million for the prior-year quarter. For the

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Axis Capital records Q3 combined ratio of 156.9%, $617 million in cat losses

October 31, 2017 by Canadian Underwriter

Axis Capital Holdings Ltd. has had a 60-point deterioration in its third-quarter combined ratio, with US$576 million in pre-tax net losses, net of reinstatement premiums from three hurricanes alone, the Bermuda-based insurer announced. Pembroke, Bermuda-based Axis Capital, which has a

News Earnings / RatingsInsuranceMarkets / Coverages

The Co-operators reports net loss of $7.4 million in third quarter

October 27, 2017 by Canadian Underwriter

Co-operators General Insurance Company has reported a consolidated net loss of $7.4 million for the third quarter of 2017 ending Sept. 30 compared to net income of $16.3 million for the same quarter of 2016. Guelph, Ont.-based The Co-operators released