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Allianz reports third-quarter revenues up 2.1% to 28.3 billion euros in Q3 2017

November 10, 2017 by Canadian Underwriter

Allianz Group has reported total third-quarter revenues of 28.3 billion euros, up 2.1% from 27.7 billion euros in the prior-year quarter. Allianz, which offers insurance and fund products to over 86 million customers in more than 70 countries, reported a

News CatastrophesInsuranceReinsurance

Combined ratio down 5.9 points, P&C reinsurance premiums down 8% for Munich Re

August 11, 2017 by Canadian Underwriter

Munich Re reported Wednesday a combined ratio of 93.9% in reinsurance in the three months ending June 30, down 5.9 points from 99.8% in the same period in 2016, when the German reinsurer had natural catastrophe claims costs of €335

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Net income for Swiss Re US$1.2 billion in 2017 H1, down from about US$1.9 billion in 2016 H1

August 4, 2017 by Canadian Underwriter

Disciplined underwriting and strong investment returns contributed to Swiss Re recording net income of US$1.2 billion for the first half of 2017, although catastrophe claims served to reduce the total from the comparable period in 2016. Net income for Swiss

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Combined ratio down 4.6 points at Axis Capital

July 28, 2017 by Canadian Underwriter

Axis Capital Holdings Ltd. reported Wednesday a 4.6-point improvement in its Q2 combined ratio, from 102.2% in the second quarter of 2016 to 97.6% in the latest quarter. Pembroke, Bermuda-based Axis Capital writes both reinsurance and commercial primary insurance worldwide

News CatastrophesEarnings / RatingsInsuranceReinsurance

XL Group Ltd. sees net income soar in 2017 Q2 over prior-year quarter, focus on executing strategy continues

July 27, 2017 by Canadian Underwriter

Both net income attributable to common shareholders and operating net income for Bermuda-based XL Group Ltd. skyrocketed in 2017 Q2 compared to 2016 Q2, with the former increasing six-fold to US$301.6 million. Specifically, net income attributable to common shareholders amounted

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Chubb reports P&C combined ratio of 88% for Q2 2017

July 26, 2017 by Canadian Underwriter

Chubb Limited has reported a P&C combined ratio of 88% for the second quarter of 2017 ending June 30, down 3.2 points from 91.2% in the same quarter last year. Chubb released its financial results on Tuesday. The insurer reported

News ConstructionInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Trisura licensed to sell insurance in the U.S.

July 14, 2017 by Canadian Underwriter

Trisura Group Ltd., a surety and commercial specialty insurer that was spun off this year from Toronto-based Brookfield Asset Management Inc., plans to begin writing insurance in the United States. In a July 12 press release, Trisura said it “has

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Allianz total revenues up 2.5% to 36.2 billion euros in Q1 2017

May 12, 2017 by Canadian Underwriter

Allianz Group has recorded total revenues of 36.2 billion euros in the first quarter of 2017, up 2.5% from 35.4 billion euros in the same quarter last year. All segments contributed to the increase, Allianz said in a press release

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Munich Re’s operating result up to 952 million euros in Q1 2017 from 726 million euros in Q1 2016

May 9, 2017 by Canadian Underwriter

Munich Re has reported an increased operating result for the first quarter of 2017, from 726 million euros in Q1 2016 to 952 million euros in the most recent quarter. The reinsurance field of business contributed 466 million euros to

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsuranceTechnology

Munich Re operating result down in 2016 from 2015, new partnerships could answer changing client demands

March 16, 2017 by Canadian Underwriter

Munich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Fairfax reports 2016 combined ratio for insurance and reinsurance operations of 92.5%

February 17, 2017 by Canadian Underwriter

Toronto-based Fairfax Financial Holdings has released its most recent financial results for the fourth quarter and full-year 2016 ending Dec. 31, reporting a combined ratio for its insurance and reinsurance operations of 92.5% on a consolidated basis. This result produced

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Munich Re posts profit of 2.6 billion euros for 2016; Fort McMurray wildfire cost 404 million euros

February 7, 2017 by Canadian Underwriter

Munich Re reported on Tuesday a consolidated result of 2.6 billion euros for 2016, including a 0.5 billion euro profit in the fourth quarter of 2016 ending Dec. 31 compared to 0.7 billion euros in the previous year quarter. Munich