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loss ratio

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Why is New Brunswick’s loss ratio the highest in Canada?

June 12, 2019 by Jason Contant

What 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

News ClaimsInsuranceMarkets / Coverages

2 reasons why it’s hard to model crop risk in Canada

April 27, 2018 by Jason Contant

Fluctuating 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

News InsuranceMarkets / CoveragesTechnology

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 Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Axis Capital records Q3 combined ratio of 156.9%, $617 million in cat losses

October 31, 2017 by Canadian Underwriter

Axis 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

News InsuranceMarkets / CoveragesReinsurance

Economic and market headwinds may challenge profitable growth for U.S. insurers: Guy Carpenter

October 18, 2017 by Canadian Underwriter

While 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

News CatastrophesClaimsEarnings / RatingsInsuranceMarkets / Coverages

Actual U.S. homeowners’ loss ratio 10 points lower than modeled expected over past 10 years: Aon

October 16, 2017 by Canadian Underwriter

The 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

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Auto personal accident loss ratio up for fourth year in a row in Canada: A.M. Best

September 5, 2017 by Canadian Underwriter

The 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

News Earnings / RatingsMarkets / CoveragesMergers and Aqcuisitions

A.M. Best reports spike in Canadian investment in U.S. insurance market

September 1, 2017 by Canadian Underwriter

There 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

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Intact has yet to see ‘full impact’ of 2016 change to Ontario auto catastrophic impairment criteria

August 3, 2017 by Canadian Underwriter

It 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

News Earnings / RatingsInsuranceMarkets / Coverages

RSA reports combined ratio of 94.8% for first half of 2017 in Canada ‘despite higher large losses’

August 2, 2017 by Canadian Underwriter

RSA 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,

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Q2 combined ratio improves 13.3 points to 101% for The Co-operators

July 28, 2017 by Canadian Underwriter

Co-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,

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Aspen reports net income of US$76.8 million for Q2 2017

July 27, 2017 by Canadian Underwriter

Aspen Insurance Holdings Limited released its financial results for the second quarter and first half of 2017 on Wednesday, reporting a net income after tax of US$75.8 million for Q2 2017. Gross written premiums (GWP) in the second quarter of