Keyword
net premiums earned
U.S. P&C industry records US$5.1 billion underwriting loss in first half of 2017: A.M. Best
August 29, 2017 by Canadian UnderwriterThe property and casualty industry in the United States recorded a net underwriting loss of US$5.1 billion for the first six months of the year, according to preliminary results from A.M. Best Company. This underwriting loss compares with a US$2 billion loss in the same period a year ago, the Oldwick, N.J. ratings firm said in a press release on Tuesday. Data from the financial review is derived from companies’ six-month 2017 interim statutory statements received as of Aug. 21 and represents an estimated 96%…
P&C reinsurance gross written premiums for half-year up 17.3% to 5.4 billion euros for Hannover Re
August 10, 2017 by Canadian UnderwriterHannover Re has reported a 17.3% increase in property and casualty reinsurance gross written premiums (GWP) for the first half of the year to 5.4 billion euros from 4.6 billion euros in H1 2016. “The main driver was once again…
Kingsway reports net loss of US$7.9 million in Q2 2017
August 8, 2017 by Canadian UnderwriterToronto-based Kingsway Financial Services Inc. has reported a net loss attributable to common shareholders of US$7.9 million in the second quarter of 2017 compared to a net loss attributable to common shareholders of US$0.6 million in the same quarter last…
Kingsway reports net loss of US$1.7 million in first quarter of 2017
April 26, 2017 by Canadian UnderwriterToronto-based Kingsway Financial Services Inc. released its financial results for the first quarter of the year on Wednesday, reporting a net loss attributable to common shareholders of US$1.7 million compared to such a net loss of US$1.5 million in Q1…
Combined ratio down 2.1 points for FM Global
March 31, 2017 by Canadian UnderwriterProperty insurance carrier FM Global released Thursday its financial results for 2016, reporting gross premiums earned of $5.44 billion. All figures are in U.S. dollars. In 2015, Johnston, R.I.-based FM Global had reported gross premiums earned of $5.49 billion. Net…
Largest single loss for Hannover Re in 2016 was the Fort McMurray wildfire, with net cost of 127.9 million euros
March 10, 2017 by Canadian UnderwriterThe largest single loss for Hannover Re last year was the Fort McMurray wildfire, with a “net strain” of 127.9 million euros, the reinsurer reported on Thursday. Hannover Re released its financial results on Thursday, reporting a Group net income…
Swiss Re reports net income of US$3 billion for first nine months of 2016
November 3, 2016 by Canadian UnderwriterSwiss Re has reported a net income of US$3 billion for the first nine months of 2016, with all business units contributing to the result, “despite the difficult market environment.” The net income results, released on Thursday, compared to US$3.7…
Combined ratio down 4 points at Axis Capital
October 27, 2016 by Canadian UnderwriterAxis Capital Holdings Ltd. released Wednesday its financial results for the period ending Sept. 30, reporting a 2% overall increase in Q3 net premiums earned while underwriting income was up 46%. Pembroke, Bermuda-based Axis Capital reported net premiums earned of…
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…
Combined ratio for AIG up 3.3% in Q2 2016 to 102.1%
August 3, 2016 by Canadian UnderwriterAmerican International Group, Inc. (AIG) has reported a 3.3% deterioration in its combined ratio for the second quarter of 2016, from 98.8% in Q2 2015 to 102.1% in the most recent quarter, reflecting underwriting loss driven by higher catastrophe losses,…
Loss ratio up 3 points for Arch Capital
July 28, 2016 by Canadian UnderwriterArch Capital Group Ltd. reported Wednesday a 1.4-point increase in its second-quarter combined ratio and 42% increase in net income, with growth in its travel, construction and national accounts. Pembroke, Bermuda-based Arch Capital’s operations include commercial insurer Arch Insurance Canada…
Q2 combined ratio climbs 7.1 points for Everest Re after Alberta wildfire, Texas hail, Ecuador quake
July 26, 2016 by Canadian UnderwriterEverest Re Group Ltd. announced Monday that the net impact of three catastrophes – including the Fort McMurray wildfire – was $105.4 million in the three months ending June 30. “Catastrophe losses, net of reinsurance, amounted to $123.8 million in…