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Hannover Re sees dip in net income, lower gross written premiums for 2016 H1 compared to 2015 H1

August 4, 2016 by Canadian Underwriter

Hannover Re saw net income fall 8.6% to 486.1 million euros for the first half of 2016 from 531.9 million euros in the prior-year half, but remains confident the company is on track to achieve its full-year target of at

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsTechnology

The Co-operators reports net loss of $39.1 million in 2016 Q2 for Co-operators General Insurance Company

July 29, 2016 by Canadian Underwriter

Co-operators General Insurance Company, part of The Co-operators Group, took a hit from the devastating Fort McMurray wildfire, reporting a consolidated net loss of $39.1 million for 2016 Q2 compared to a net income of $58.2 million for 2015 Q2.

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Chubb Limited’s net income for 2016 Q2 down 22.8% from 2015 Q2

July 28, 2016 by Canadian Underwriter

Higher natural catastrophe losses globally were among the factors contributing to Chubb Limited reporting US$726 million in net income for the three months ended June 30, 2016 compared to US$942 million for the prior-year quarter. Chubb’s net income was also

News InsuranceMergers and AqcuisitionsTechnology

Insurers should offer lower premiums to motorists who don’t use mobile phones while driving, U.K. survey finds

July 20, 2016 by Canadian Underwriter

Six in ten motor insurance policyholders in the United Kingdom say that avoiding any type of mobile phone use should be a top factor used by insurers in offering lower premiums, according to a new survey. The survey of 1,314

News InsuranceMergers and Aqcuisitions

Car insurance premiums in the U.K. up 19% year-over-year, new study finds

July 11, 2016 by Canadian Underwriter

Motorists in the United Kingdom are facing the biggest annual price hikes in car insurance premiums in five years, with prices rising by £115 over the last 12 months, according to the latest Confused.com Car Insurance Price Index, powered by

News InsuranceMergers and Aqcuisitions

Manitoba Public Insurance seeks 2% basic auto rate increase after “unprecedented” claims payouts

June 17, 2016 by Canadian Underwriter

Manitoba Public Insurance (MPI) said on Friday that it has asked the Public Utilities Board for a 2% increase to Basic Autopac rates, citing an “unprecedented” year for comprehensive (non-collision) claims payouts. Basic Autopac is an all-perils coverage that insures

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Only 10% of Ontario drivers report being “very knowledgeable” about elements of a standard auto insurance policy: FSCO-commissioned survey

June 15, 2016 by Canadian Underwriter

Only 10% of Ontario’s nearly 10 million drivers report that they are “very knowledgeable” about the elements in a standard auto insurance policy, according to a recent survey commissioned by the Financial Services Commission of Ontario (FSCO). The survey, released

News Insurance

Almost 70% of polled Canadians believe home security increases home value

May 19, 2016 by Angela Stelmakowich

Results of a national poll issued Thursday indicate that 69% of surveyed Canadians believe that home security systems add value to their homes. Despite that belief, though, almost 40% of respondents were unaware that having a home security system reduces

News Earnings / RatingsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Driverless cars could have significant credit impact across range of sectors, Moody’s report says

May 17, 2016 by Canadian Underwriter

Driverless cars could have significant credit implications across a wide range of sectors and companies as the technology becomes more advanced and widespread in the coming years, Moody’s Investors Service said in a report released on Tuesday. Although the extensive

News InsuranceLegalMergers and Aqcuisitions

Reduced auto insurance accident benefits could influence balance between attendant care, treatment: lawyer

May 12, 2016 Angela Stelmakowich, Editor

The reduced accident benefits under Ontario’s auto reforms may prove a shock to drivers with non-catastrophic injuries, but perhaps should also elicit concern over the potential for treatment to come second to attendant care, suggests Daniel Strigberger, a lawyer with

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Premiums earned up 4%, catastrophe losses up 181% at Allstate

May 9, 2016 by Canadian Underwriter

First-quarter underwriting income dropped about 73% year-over-year for The Allstate Corp. in the wake of two large hailstorms in late March in the southern United States. The Northbrook, Ill.-based insurer reported May 4 that catastrophe losses were $827 million during

News AssociationsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Insurance Institute of Canada issues “call to action” on driverless vehicles

May 5, 2016 by Canadian Underwriter

Clear determination of responsibility is essential to ensuring effective insurance coverage of driverless vehicles, but the “next 10 years may have less clarity about responsibility than the past 40 or 50 years,” according to a new report released on Thursday