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interest rate

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Bank of Canada holds rate, suggests more hikes likely at more cautious pace

October 25, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Bank of Canada left its benchmark interest rate unchanged Wednesday following two straight hikes, but suggested future increases are still likely, albeit at a more-gradual pace. In its scheduled announcement, the central bank said it held off

News Earnings / RatingsInsurance

After hiking twice, there’s ‘no predetermined path’ for rates from here: Bank of Canada’s Poloz

September 28, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The head of the Bank of Canada says that after two interest-rate hikes this summer there is “no predetermined path” for the benchmark going forward. In a speech Wednesday, governor Stephen Poloz said many unknowns and external risks

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

‘Persistent low interest rate environment’ among factors affecting Canadian P&C financial performance in 2016: A.M. Best

September 6, 2017 Greg Meckbach, Associate Editor

As the Bank of Canada announced Wednesday its second rate hike in less than two months, an analyst with A.M. Best Company Inc. suggested to industry professionals that  a 2.1-point increase in the industry-wide operating ratio in the Canadian property

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Canadian inflation perks up for first time since January, hits 1.2% in July

August 18, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Inflation picked up its pace last month for the first time since January as the annualized rate accelerated to 1.2 per cent, Statistics Canada said Friday. The latest inflation number increased from its June reading of one per

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Bank of Canada raises interest rate to 0.75% from 0.5%

July 13, 2017 by Canadian Underwriter

The Bank of Canada announced on Wednesday that it has raised its interest rate for the first time in seven years, to 0.75% from 0.5%. “Recent data have bolstered the Bank’s confidence in its outlook for above-potential growth and the

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Bank of Canada expected to raise its key rate for first time in nearly seven years

July 11, 2017 Craig Wong - THE CANADIAN PRESS

OTTAWA – The Bank of Canada is expected to raise its key interest rate target for the first time in nearly seven years on Wednesday following signs the economy is well on the road to recovery after the crash in

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Weaker inflation slows to 1.3%, could weigh on Bank of Canada’s rate decision

June 23, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Steps by the Bank of Canada to prepare the country for an eventual interest rate hike are bumping up against an inflation rate that has eased up on the accelerator. Weaker year-over-year growth in gasoline prices last month

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Manitoba Public Insurance requests 2.7% overall rate increase for 2018/19 insurance year

June 19, 2017 by Canadian Underwriter

Manitoba Public Insurance (MPI) has announced that it has requested a 2.7% overall rate increase for the 2018/19 insurance year. MPI requested the rate increase for the 2018/19 insurance year in its general rate application filed with the Public Utilities

News CatastrophesClimate ChangeEarnings / RatingsMergers and AqcuisitionsReinsurance

Hannover Re Group net income down 2.4% to 264.8 million euros in 2017 Q1 compared to 2016 Q1

May 10, 2017 by Canadian Underwriter

Group net income for Hannover Re contracted to 264.8 million euros in the first quarter of 2017, but was in line with the prior-year quarter’s exceptionally good results, positioning the reinsurer well for achieving its financial targets this year. Group

News Earnings / RatingsInsurance

Central bank says no rate cut considered amid stronger growth, but notes risks

April 13, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The head of the Bank of Canada said an interest rate cut was not on the table during the central bank’s latest policy decision, but also warned of persistent risks that suggest it will not hike any time

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Economy making progress, but risks remain, BoC deputy governor says

March 21, 2017 The Canadian Press

VANCOUVER – The Canadian economy has made good progress since the plunge in oil prices in 2014, but slack and risks remain, a deputy governor of the Bank of Canada said Tuesday. Lawrence Schembri said recent economic data has been

News Earnings / RatingsInsurance

U.S. Federal Reserve interest rate increase unlikely to provide much short-term relief for insurers: A.M. Best

December 14, 2016 by Canadian Underwriter

The U.S. Federal Reserve’s decision to raise short-term interest rates by 25 basis points is unlikely to provide much relief for insurers, ratings firm A.M. Best Company said on Wednesday. That day, the Federal Reserve raised its benchmark rate by