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Canadian insurers ‘in a tough time for investments,’ A.M. Best analysts warn

November 15, 2016 Greg Meckbach, Associate Editor

Mergers and acquisitions in the reinsurance sector sometimes involve carriers acquiring managing general agents, while in Canada, M&As have involved insurers trying to “beef up certain parts of their enterprise,” analysts from A.M. Best Company Inc. suggested at a recent

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Desjardins General Insurance Group reports net income of $12.1 million for Q3 2016 compared to net loss of $32 million in Q3 2015

November 14, 2016 by Canadian Underwriter

Lévis, Que.-based Desjardins General Insurance Group (DGIG) – a Desjardins Group subsidiary specializing in property and casualty insurance – has reported a net income of $12.1 million in the third quarter of 2016 ending Sept. 30, compared to a net

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Net income for Allianz Group up 36.5% in Q3 2016 to 1.9 billion euros

November 11, 2016 by Canadian Underwriter

Allianz Group has reported that net income attributable to shareholders climbed 36.5% in the third quarter of this year ending Sept. 30 to 1.9 billion euros, due partly to better performance across its business segments. However, for the nine-month period ending

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Canadian insurers covering Fort McMurray property ‘learned a lot’ from 2011 Slave Lake wildfire: A.M. Best’s Silverthorn

November 10, 2016 Greg Meckbach, Associate Editor

The insured loss from the wildfire in May in Fort McMurray, Alta. will be “somewhere between” $3.6 billion and $4.6 billion, with European reinsurers covering nearly half of the loss, analysts from A.M. Best Company Inc. suggested Thursday. “The reinsurers

News CatastrophesEarnings / RatingsInsuranceReinsurance

Munich Re posts profit of 684 million euros in third quarter

November 10, 2016 by Canadian Underwriter

Munich Re has posted a profit for 684 million euros in the third quarter of 2016 ending Sept. 30, up from 525 million euros in the same quarter last year. For the first nine months of the year ending Sept.

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

A.M. Best maintains stable outlook for Canadian P&C industry; financial results strong again in 2015

November 8, 2016 by Canadian Underwriter

Ratings firm A.M. Best Company continues to maintain a stable outlook for the Canadian property and casualty insurance industry, noting that it has “historically shown resilience and the ability to adapt when necessary.” A.M. Best’s stable outlook is based primarily

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Economical Insurance gross written premiums up 6.7% to $550 million in third quarter of 2016 from prior-year quarter

November 7, 2016 by Canadian Underwriter

Economical Insurance has reported that gross written premiums (GWP) were up by 6.7% to $550.3 million in the third quarter of 2016 ending Sept. 30 from $515.9 million in Q3 2015. In the first nine months of 2016, GWP were

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Net earnings for Fairfax Financial Holdings Limited US$1.3 million in 2016 Q3 compared to US$424.8 million in 2015 Q3

November 7, 2016 by Canadian Underwriter

Net losses on investment contributed to Fairfax Financial Holdings Limited seeing net earnings drop to US$1.3 million in 2016 Q3 compared to US$424.8 million in 2015 Q3. The results reflect “strong operating income offset by net losses on investments,” notes

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Allstate revenues up 2.1% in Q3 2016 to US$9.22 billion

November 4, 2016 by Canadian Underwriter

The Allstate Corporation has reported consolidated revenues of US$9.22 billion for the three-month period ending Sept. 30, up 2.1% from US$9.03 billion in Q3 2015. For the first nine months of the year, consolidated revenues were up 1.1% to US$27.3

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AIG reports net income of US$462 million for Q3 2016 compared to net loss of US$231 million in Q3 2015

November 3, 2016 by Canadian Underwriter

American International Group, Inc. (AIG) has reported a net income of US$462 million for the third quarter of 2016 ending Sept. 30 compared to a net loss of US$231 million in the prior-year quarter. Net income during the quarter included

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Swiss Re reports net income of US$3 billion for first nine months of 2016

November 3, 2016 by Canadian Underwriter

Swiss Re has reported a net income of US$3 billion for the first nine months of 2016, with all business units contributing to the result, “despite the difficult market environment.” The net income results, released on Thursday, compared to US$3.7

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Markel Corporation reports consolidated net written premiums of US$3.162 billion for first nine months of the year

November 2, 2016 by Canadian Underwriter

Glen Allen, Va.-based Markel Corporation reported on Tuesday consolidated net written premiums (NWP) for the nine months ending Sept. 30 of US$3.162 billion, up from US$3.023 billion in the same prior-year period. Of the consolidated NWP for the nine-month period,