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financial results


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AXIS Capital reports net income of US$131 million for Q4 2016

February 6, 2017 by Canadian Underwriter

Pembroke, Bermuda-based AXIS Capital Holdings Limited has reported a net income available to common shareholders for the fourth quarter of 2016 of US$131 million, comparable to a net income of US$135 million for the fourth quarter of 2015. Net income

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Marsh & McLennan Companies’ net income up 16% in Q4 2016 to US$436 million

February 3, 2017 by Canadian Underwriter

Marsh & McLennan Companies, Inc. (MMC) has reported net income attributable to company of US$436 million, up 16% from the prior-year quarter’s total of US$375 million. For the full year 2016, revenue was US$13.2 billion, a 2% increase. MMC, a

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Allied World combined ratio up 2.8% in fourth quarter of 2016

February 2, 2017 by Canadian Underwriter

Zug, Switzerland-based Allied World Assurance Company Holdings, AG has reported a combined ratio of 99.8% for the fourth quarter of 2016, ending Dec. 31, compared to 97% in the fourth quarter of 2015. Allied World, a global provider of property,

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Travelers’ net income up 9% in Q4 2016 to US$943 million

January 24, 2017 by Canadian Underwriter

The Travelers Companies, Inc. has reported a net income of US$943 million for the fourth quarter of last year ending Dec. 31, 2016, up 9% from US$866 million in the prior-year quarter. Travelers released its financial results on Tuesday, noting

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

2016 Q4 preliminary loss estimate for natural catastrophes US$245 million: XL Group

January 10, 2017 by Canadian Underwriter

XL Group Ltd.’s insurance and reinsurance segments are almost evenly split with regard to accounting for the company’s approximately US$245 million, natural catastrophe net loss estimate for the fourth quarter of 2016. The preliminary loss estimate “is pre-tax and net

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Net income for U.S. P&C industry for first nine months of 2016 down 26.8% compared to 9M 2015: A.M. Best

November 28, 2016 by Canadian Underwriter

The property and casualty industry in the United States reported a US$2.3 billion net underwriting loss in the first nine months of 2016 and a 26.8% decline in net income compared with the same period in 2015, according to preliminary

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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

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Zurich’s net income after tax attributable to shareholders up 342% in Q3 2016

November 10, 2016 by Canadian Underwriter

Zurich Insurance Group has reported net income after tax attributable to shareholders (NIAS) of US$912 million for the third quarter of 2016 ending Sept. 30, up 342% from US$207 million in the same quarter in 2015. For the nine months

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 AqcuisitionsReinsurance

Fort McMurray will hit Canadian’s p&c industry financial results in 2016: A.M. Best

November 9, 2016 by Canadian Underwriter

Current-year financial results for Canada’s property and casualty industry – which were once again strong in 2015 – are expected to take a hit in the wake of the Fort McMurray wildfire loss, notes a new report from A.M. Best.

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