Keyword
gross written premiums
Non-standard auto insurer Echelon completes sale of European operations
March 8, 2017 by Canadian UnderwriterEchelon Financial Holdings Inc. announced Tuesday it has completed the sale of its European operations, which provide non-standard auto through Danish insurer Qudos Insurance A/S. At current exchange rates, Mississauga, Ont.-based Echelon will receive about $5.1 million on closing “and…
Combined ratio up 2 points for SCOR
February 22, 2017 by Canadian UnderwriterParis-based reinsurer SCOR SE released Wednesday its latest financial results, reporting a combined ratio of 93.1% in 2016, up 2 points from 91.1% in 2015. The combined ratio in the most recent quarter was 93.3%, up 1.1 points from 92.2%…
Economical Insurance gross written premiums up 4.8% in Q4 2016 to $521.8 million
February 22, 2017 by Canadian UnderwriterEconomical Insurance has reported that gross written premiums (GWP) for the fourth quarter of 2016 ending Dec. 31 grew by $23.8 million, or 4.8%, to $521.8 million from $498 million in Q4 2015. In particular, personal lines premiums grew by…
Zurich reports business operating profit of US$4.5 billion for 2016, up 55% from prior-year period
February 10, 2017 by Canadian UnderwriterZurich Insurance Group has reported a business operating profit (BOP) for the full-year ending Dec. 31, 2016 of US$4.5 billion, up 55% from the prior-year period. The fourth quarter BOP for the three months ending Dec. 31, 2016 was up…
Brexit uncertainties weigh on U.K. insurers but rated entities able to withstand pressure: A.M. Best
January 20, 2017 by Canadian UnderwriterRatings firm A.M. Best Company said on Friday that it does not anticipate taking any rating actions as a direct result of plans for the United Kingdom to exit the European Union (EU), “although the cost implications of continuing to…
Zurich’s net income after tax attributable to shareholders up 342% in Q3 2016
November 10, 2016 by Canadian UnderwriterZurich 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…
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 UnderwriterEconomical 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…
Everest Re’s combined ratio improves five points to 85.6% in Q3 2016
October 27, 2016 by Canadian UnderwriterHamilton, Bermuda-based Everest Re Group, Ltd. has reported a combined ratio for the third quarter of this year of 85.6%, a five-point improvement from 90.6% in the same quarter of 2015. Excluding catastrophe losses, reinstatement premiums and prior period loss…
Aspen Insurance reports a combined ratio of 93.8% for the third quarter of 2016
October 27, 2016 by Canadian UnderwriterHamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a combined ratio of 93.8% for the third quarter of 2016, up slightly from 93.4% in the third quarter of 2015. Aspen Insurance released its financial results on Wednesday, reporting a net…
Nat-cats contribute to decrease in net income at SCOR for first three quarters of 2016 compared to prior-year period
October 27, 2016 by Canadian UnderwriterThe Group net income for SCOR for the first nine months of 2016 took a hit, partly as a result of the impact of natural catastrophes, falling 11.0% to 438 million euros compared to 492 million euros for the first…
Fort McMurray wildfire adds 9.2 points to Northbridge Insurance’s Q2 combined ratio
August 3, 2016 by Canadian UnderwriterThe recent wildfire in and near Fort McMurray, Alberta resulted in net incurred losses of $13.5 million for OdysseyRe and $20.9 million for Northbridge Insurance, the carriers’ parent company reported recently. All figures are in United States dollars. Fairfax Financial…
Aspen Insurance combined ratio up 7.1 points in Q2 2016, gross written premiums increase by 10.9%
July 28, 2016 by Canadian UnderwriterAspen Insurance Holdings Limited has reported a combined ratio of 100.7% for the second quarter of 2016 compared with 93.6% for the second quarter of 2015. Hamilton, Bermuda-based Aspen Insurance also reported a net income after tax of US$64.9 million…