Keyword
personal lines
The Co-operators acquires brokerage Denny’s Insurance of Acton, Ont.
January 16, 2017 by Canadian UnderwriterCo-operators General Insurance Company announced on Monday that its wholly-owned subsidiary has purchased personal and commercial lines brokerage Denny’s Insurance. Current clients of Denny’s Insurance, located in Acton, Ont., will be notified of the change in ownership and their existing…
U.S. personal lines stable, commercial lines remain negative in A.M. Best’s 2017 outlooks
December 14, 2016 by Canadian UnderwriterRatings firm A.M. Best is maintaining a stable outlook for 2017 on the personal lines segment of the property and casualty industry in the United States, while also maintaining a negative outlook on commercial lines. The Oldwick, N.J.-based firm maintained…
Insurance undergoing “a fundamental structural change”: KPMG speaker
December 8, 2016 by Angela StelmakowichThe insurance industry is undergoing structural change with the emergence of platform-based business models and insurers need to ready themselves to be able to take part, Matthew Smith, insurance co-lead for the Global Strategy Group at KPMG, suggested during the…
PCS estimates $3.98 billion in insured damage from Fort McMurray wildfire in final re-survey
November 17, 2016 by Canadian UnderwriterProperty Claim Services (PCS) has updated its insured damage estimate for the Fort McMurray wildfire to $3.98 billion, down from its August estimate of $4.67 billion. Of the $3.98 billion estimate, the majority is in personal lines ($2.9 billion), with…
Combined ratio 100.3% for U.S. mutual insurers in 2015: A.M. Best
September 22, 2016 by Canadian UnderwriterMutual property & casualty insurers in the United States experienced more growth in their commercial business than in personal lines over the past five years, while improved pricing sophistication has led to lower loss ratios, A.M. Best Company suggested in…
U.S. p&c industry sees favourable rating activity in 2016 H1: A.M. Best
August 12, 2016 by Canadian UnderwriterProperty and casualty insurers in the United States have witnessed favourable rating activity in the first half of 2016 compared to a negative prior-year trend, notes a new special report from A.M. Best. Reversing what was seen in 2015 H1,…
Economical Insurance cites wildfire’s impact, net income drops to $17.1 million in 2016 Q2
August 8, 2016 by Canadian UnderwriterCanada’s worst-ever insured natural disaster – the Fort McMurray wildfire – delivered a hard hit to the underwriting activity of Economical Insurance, contributing to a net income in the second quarter of 2016 of about half the prior-year quarter. Economical…
Flood losses expected to dampen French, German insurers’ first-half earnings: A.M. Best
June 21, 2016 by Canadian UnderwriterFlood losses in the wake of storms Elvira and Friederike in late May and early June are not expected to result in ratings actions, but it is anticipated they will hit first-half results for French and German insurers, notes a…
Toronto brokerage RRJ Insurance Group purchases Topping Insurance Brokers; office will remain in Peterborough
May 12, 2016 by Canadian UnderwriterToronto-based RRJ Insurance Group Ltd. has announced the purchase of Peterborough, Ont.-based Topping Insurance Brokers Ltd. The RRJ Insurance Group said in a press release issued on Thursday that the purchase was effective May 2. The office is located at…
Economical Insurance combined ratio down 4.6 points in first quarter of 2016
May 10, 2016 by Canadian UnderwriterEconomical Insurance has reported a combined ratio of 101.1% in the first quarter of 2016 ending March 31, down 4.6 percentage points from the Q1 2015 combined ratio of 105.7%. Waterloo, Ont.-based Economical Insurance’s gross written premiums were up by…
P&C industry in the U.S. marks third consecutive underwriting gain, but surplus declines on investment results: A.M. Best
May 9, 2016 by Canadian UnderwriterThe property and casualty industry in the United States marked a third consecutive year of underwriting profitability, with US$6.2 billion in underwriting income in 2015, according to an A.M. Best Company special report released on Friday. However, the lower level…
Arthur J. Gallagher acquires Winnipeg brokerage B.R. Rhymer Insurance Agencies
May 6, 2016 by Jason ContantArthur J. Gallagher (AJG) has announced the acquisition of B.R. Rhymer Insurance Agencies Ltd., a personal and commercial lines broker located on Pembina Highway in Winnipeg, Manitoba. AJG, the international division of Arthur J. Gallagher & Co. outside of the…