Already under financial strain due to tightening markets in several lines of business, Canada’s property and casualty insurance industry nevertheless seems well-positioned to withstand a global recession triggered by the novel coronavirus pandemic — at least in the short term.…
Canada’s federally-regulated property and casualty insurers appear to be getting a handle on their property lines claims ratios, although auto lines are still in trouble, according to third-quarter industry results released by the country’s solvency regulator, the Office of the…
Are you a personal lines specialist who is attracted by the allure of working in commercial lines? You’re not alone. “I think a lot of people often say, ‘Well, I’m in personal lines and I aspire to commercial because it’s…
Where do you find top-flight commercial brokers when the pool of highly-qualified talent is shallow?
Augmented and virtual reality each boast considerable potential for impact within the insurance industry, with implications spanning risk mitigation, improved efficiency and loss ratios and enhanced customer service, Novarica said in a new executive brief. While their effect will be…
Credit rating activity for the United States’ property and casualty industry in the first half of 2017 was favourable, with upgrades outpacing downgrades, A.M. Best Company reported on Thursday. Nearly one-third of the 2017 upgrades were driven by “increased parental…
Toronto-based Echelon Financial Holdings Inc. has reported a combined operating ratio of 93.5% for the second quarter of 2017 ending June 30, a 4.2 point improvement from 97.7% in Q2 2016, driven by strong results in personal auto and commercial…
Chicago, Ill.-based Hub International Limited announced on Monday that Hub Quebec has purchased “certain assets” from Patrice Varin, through a corporation held by him. Terms of the acquisition were not disclosed. Varin will join Hub Quebec, bringing with him a…
Ross McDougall, CEO of McDougall Insurance & Financial, announced on Tuesday that the brokerage has merged with Monkman Gracie Johnston Insurance effective immediately. Operating out of Peterborough, Ont., Monkman Insurance and its 22 employees join Belleville, Ont.-headquartered McDougall Insurance to…
Growth in the managing general agent (MGA) market last year exceeded that of the total property and casualty market by 32%, according to a new study from global investment management firm Conning. “In 2016, comparable firms in Conning’s MGA database…
Many brokers are taking the bull by the horns and embracing digital transformation, with or without the help of insurers, a speaker suggested last week at the Insurance Analytics Canada Summit in downtown Toronto. Greg McCutcheon, president of Markham, Ont.-based…
The Canadian property and casualty insurance industry had essentially no underwriting income during the first three months of the year but Q1 net investment income more than doubled year over year, figures from a report from MSA Research Inc. suggest.…