Keyword
loss ratio
How the industry’s ROE is trending
April 26, 2023 by Jason ContantThe Canadian property and casualty insurance industry’s return on equity (ROE) last year dropped a few percentage points from the 17% to 18% level it was in 2021, but it’s still above the long-run average of 10.1%, a new industry…
Why is New Brunswick’s loss ratio the highest in Canada?
June 12, 2019 by Jason ContantWhat is contributing to New Brunswick’s skyrocketing loss ratio? According to Canadian Underwriter’s 2019 Statistical Issue, the total (direct) loss ratio for the province last year was 100.8%, up 22 points from 78.8% in 2017. This makes it the highest…
2 reasons why it’s hard to model crop risk in Canada
April 27, 2018 by Jason ContantFluctuating loss ratios and an evolving mix of crops in Canada are two factors contributing to the difficulty in modelling crop risk in the country, AIR Worldwide said recently. Rebecca Arias, the catastrophe modelling firm’s product marketing manager, wrote in…
Two reasons why Ontario approved increased auto rates
January 19, 2018 by Jason ContantIncreased 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…
Axis Capital records Q3 combined ratio of 156.9%, $617 million in cat losses
October 31, 2017 by Canadian UnderwriterAxis Capital Holdings Ltd. has had a 60-point deterioration in its third-quarter combined ratio, with US$576 million in pre-tax net losses, net of reinstatement premiums from three hurricanes alone, the Bermuda-based insurer announced. Pembroke, Bermuda-based Axis Capital, which has a…
Economic and market headwinds may challenge profitable growth for U.S. insurers: Guy Carpenter
October 18, 2017 by Canadian UnderwriterWhile the insurance industry in the United States is well-capitalized and market sentiment is mostly positive, there is still evidence of economic and market-based headwinds that will challenge profitable growth, a new report from Guy Carpenter has suggested. In the…
Actual U.S. homeowners’ loss ratio 10 points lower than modeled expected over past 10 years: Aon
October 16, 2017 by Canadian UnderwriterThe catastrophe loss ratio, over 10 years, was 10 points lower than the modeled expected cat loss ratio in homeowners’ insurance in the United States, Aon plc suggested in a report released Monday. Aon Benfield Analytics released Monday its annual…
Auto personal accident loss ratio up for fourth year in a row in Canada: A.M. Best
September 5, 2017 by Canadian UnderwriterThe auto personal accident loss ratio in Canada “remains a concern,” with Canadian auto insurers being affected by distracted driving and rising repair costs, A.M. Best Company Inc. suggested in a recent report. In 2016, ratings firm A.M. Best said…
A.M. Best reports spike in Canadian investment in U.S. insurance market
September 1, 2017 by Canadian UnderwriterThere is a “growing interest” among Canadian property and casualty insurers in the United States market, while on this side of the border, Aviva plc has became the Number 2 P&C insurer in Canada and the loss ratio in Canadian…
Intact has yet to see ‘full impact’ of 2016 change to Ontario auto catastrophic impairment criteria
August 3, 2017 by Canadian UnderwriterIt has been more than a year since Ontario changed its criteria for catastrophic impairment and reduced the mandatory coverage for accident benefits, but the “long tail profile” of accident benefits claims means the Ontario reforms “have not fully been…
RSA reports combined ratio of 94.8% for first half of 2017 in Canada ‘despite higher large losses’
August 2, 2017 by Canadian UnderwriterRSA Insurance Group plc reported Wednesday that its net premiums written in Canada during the six months ending June 30 were 5% higher, on a constant rate of exchange basis, than in the same period in 2016. Meanwhile, in Canada,…
Q2 combined ratio improves 13.3 points to 101% for The Co-operators
July 28, 2017 by Canadian UnderwriterCo-operators General Insurance Company reported Thursday an underwriting loss of $6.6 million in the three months ending June 30, while direct premiums written were $768.7 million, up 6.4% from $722.6 million in Q2 2016. During the second quarter of 2016,…