Canadian Underwriter

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News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Economical reports 12.8% increase in gross written premiums in Q2 2017, 8.3 point increase in combined ratio to 112.8%

August 4, 2017 by Canadian Underwriter

Economical Insurance reported a 12.8% increase in gross written premiums (GWP) in the second quarter of 2017 to $660.6 million, driven by strong personal lines growth, including contributions from Sonnet and Petline. “While we generated significant growth in gross written

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Arthur J. Gallagher gains presence in Quebec with acquisition of GPL Assurance Inc.

August 4, 2017 by Canadian Underwriter

Arthur J. Gallagher (AJG) announced late Thursday that it has “extended its investment in Canada and further diversified it geographic presence” with the acquisition of retail insurance broker GPL Assurance Inc. in Quebec. Terms of the transaction were not disclosed. Established

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Soft pricing in global reinsurance market to continue for at least the rest of 2017: Fitch

May 16, 2017 by Canadian Underwriter

The soft pricing in the global reinsurance market will continue for at least the rest of 2017, ratings firm Fitch Ratings said in a report released Monday. “We expect premium rates to continue declining, due to large volumes of under-deployed

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Market conditions continue to support high levels of insurance distribution and services M&A activity going forward: Conning

April 3, 2017 by Canadian Underwriter

While the mergers and acquisitions (M&A) market for insurance distribution and services “cooled slightly” in 2016 from the prior year, market conditions continue to support high levels of M&A activity going forward, according to a new study from Hartford, Conn.-based

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U.S. mergers and acquisitions activity expected to remain steady in 2017: KPMG

November 17, 2016 by Canadian Underwriter

Merger and acquisition (M&A) activity in the United States is expected to remain steady in 2017 compared to the deal levels of 2016, according to a recent survey by audit, tax and advisory firm KPMG LLP. Of the 94 respondents

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Net income for Aon up to US$307 million in Q3, Risk Solutions revenue up 2%

October 28, 2016 by Canadian Underwriter

Aon plc has reported a net income attributable to shareholders of US$307 million for the third quarter of 2016 ending Sept. 30, up from US$295 million for the prior-year quarter. Total revenue was US$2.7 billion, similar to the prior-year quarter,

News AssociationsInsuranceMarkets / CoveragesProfessional Development

Insurers who fail to “adapt to what millennials are looking for” will let go of “majority” of customers: Intact president

October 20, 2016 Greg Meckbach, Associate Editor

Insurance providers need to “rethink” how they provide advice to customers in their 20s and 30s, the president of Intact Insurance suggested Thursday to an audience of Ontario brokers. “Millennials still want advice,” Intact Insurance president Jean-Francois Blais said during

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Tina Osen named president of HUB Canada; Chad Robertson HUB’s new EVP of international business and growth initiatives

October 12, 2016 by Angela Stelmakowich

Tina Osen, currently president of HUB TOS in British Columbia, will take on duties as HUB Canada’s new president. “Tina will champion our commitment to growing in Canada, where HUB’s roots are,” Marc Cohen, the recently appointed president of HUB

News InsuranceMarkets / CoveragesReinsurance

Weakening reinsurance environment leaving more reinsurers vulnerable to takeover in 2017: Fitch

September 13, 2016 by Canadian Underwriter

Weak profitability is likely to leave more reinsurers worldwide vulnerable to takeover in 2017, reinvigorating mergers and acquisitions (M&A) activity as healthier firms seek growth and efficiency savings, Fitch Ratings said on Monday. Consolidation in the sector has stalled after