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Joel Baker

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Two reasons why Ontario approved increased auto rates

January 19, 2018 by Jason Contant

Increased vehicle technology and elevated auto loss ratios are among the factors contributing to rate increases in Ontario auto, Joel Baker, president and CEO of MSA Research, told Canadian Underwriter on Thursday. “The industry is being challenged by elevated auto

News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Was 2017 the costliest year ever for insured losses?

January 8, 2018 by Jason Contant

Munich Re has confirmed what industry analysts have long speculated — the hurricane trio of Harvey, Irma and Maria made 2017 the year of the highest global insured losses ever. The final insurance bill for those three hurricanes and other

News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Why Canadian insurers should feel lucky after 2017

January 3, 2018 by Greg Meckbach

After a year of massive North Atlantic hurricane losses, Canadian P&C insurers may have dodged a bullet with this year’s renewal season. Reinsurers licensed in Canada “were the main beneficiaries of the relatively quiet Canadian CAT year,” wrote Joel Baker,

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Blame auto losses for lackluster 2017 P&C results

January 2, 2018 by Greg Meckbach

Despite a “relatively benign” year in Canada for catastrophes in 2017, the industry-wide combined ratio in Canada was still fairly high at 96.8% during the first nine months of last year, with auto results partly to blame, MSA Research reported

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

Catastrophes likely to have “muted” effect on Canadian reinsurance pricing

December 4, 2017 Jason Contant, Online Editor

Reinsurance rates in Canada will likely not decrease and there may be some “upward movement in certain regions” following the historically massive catastrophes in the third quarter, MSA Research president and CEO Joel Baker suggested Monday. The catastrophes – including

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Canadian P&C industry’s combined ratio improves seven points in Q2 2017 to 97.7%: MSA

September 28, 2017 by Canadian Underwriter

The Canadian P&C industry’s combined ratio improved 7.06% in the second quarter of this year from the same quarter last year to 97.71% from 104.77%, according to the MSA Quarterly Outlook Report, released on Thursday. “What a difference a year

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MSA calls for ‘sustainable solution for underinsurance’ in overland flood

June 27, 2017 by Canadian Underwriter

A potential solution to overland flood risk in Canada “could follow” the model of Britain’s Flood Re, MSA Research Inc. suggested in a report released Monday to Canadian Underwriter. Toronto-based MSA released its Quarterly Outlook Report for Q1 2017. In

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Investment income doubles for Canadian P&C industry: MSA

June 27, 2017 by Canadian Underwriter

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.

News Earnings / RatingsInsuranceMergers and AqcuisitionsProfessional DevelopmentReinsurance

Combined ratio for Canadian insurance industry in Q1 2017 estimated at 101.3%, up from 94.7% in Q1 2016: Baker

May 24, 2017 Jason Contant, Online Editor

The insurance industry in Canada saw a 6.6% hike in the combined operating ratio for the first quarter of 2017, from 94.7% in Q1 2016 to 101.3% in the first three months of this year, MSA Research Inc. president and

News CatastrophesInsuranceMergers and Aqcuisitions

Q1 combined ratio ex-MYA 101.6% for Desjardins General Insurance

May 16, 2017 by Canadian Underwriter

Desjardins General Insurance Group reported Thursday an underwriting loss, excluding market yield adjustment, of $17.2 million during the three months ending March 31, while premiums dropped 11% from the same period of last year. Direct premiums written dropped from $1.04

News AppointmentsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Desjardins’ acquisition of Western Financial caused ‘headaches’ for brokers: Baker

April 19, 2017 by Canadian Underwriter

If Trimont Financial Ltd. acquires Western Financial Group, Desjardins Group officials will have “more time to focus on further integrating State Farm,” MSA Research Inc. suggested in a recent report released Tuesday. “Slowly but surely, the complexion of the industry

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Canadian industry underwriting income down 81% in 2016: MSA

April 18, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had underwriting income of $484 million in 2016, down 81% from $2.554 billion in 2015, while reinsurers’ combined ratio deteriorated 30.4 points year over year, MSA Research Inc. suggested in a report released