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Insurers object to characterization of Ontario auto as “profitable”

April 9, 2019 by David Gambrill

Canada’s home, auto and business insurers are objecting to a recent characterization of Ontario’s auto insurance regime as “profitable.” “The current trends are unsustainable for both drivers and insurance companies,” Insurance Bureau of Canada vice president of Ontario Kim Donaldson

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesTechnology

RSA Canada posts solid underwriting profit despite nat-Cat events in 2016

February 24, 2017 by Angela Stelmakowich

RSA Canada witnessed increased underwriting profit and a solid combined ratio for 2016 despite what can only be described as a challenging year that featured Canada’s most costly insurable nat-Cat ever and a host of other adverse weather events. “We’re

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Munich Re posts profit of 2.6 billion euros for 2016; Fort McMurray wildfire cost 404 million euros

February 7, 2017 by Canadian Underwriter

Munich Re reported on Tuesday a consolidated result of 2.6 billion euros for 2016, including a 0.5 billion euro profit in the fourth quarter of 2016 ending Dec. 31 compared to 0.7 billion euros in the previous year quarter. Munich

News Earnings / RatingsInsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsReinsurance

Canadian non-life insurance market poised for 2017 profit recovery: Fitch

January 25, 2017 by Canadian Underwriter

The Canadian non-life insurance industry is likely to return to an underwriting profit in 2017, according to Fitch Ratings’ new report on the Canadian non-life insurance market. Following a significant improvement in 2015 underwriting performance, the market in aggregate will

News CatastrophesEarnings / RatingsInsuranceReinsurance

Munich Re posts profit of 684 million euros in third quarter

November 10, 2016 by Canadian Underwriter

Munich Re has posted a profit for 684 million euros in the third quarter of 2016 ending Sept. 30, up from 525 million euros in the same quarter last year. For the first nine months of the year ending Sept.

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Fort Mac wildfire more than an “earnings event” for some insurers, domestic market posts $1 billion underwriting loss in H1: MSA

September 28, 2016 by Canadian Underwriter

The Fort McMurray wildfire may have been an “earnings event” for the largest insurers in Canada’s property and casualty industry, but that was not the case for some smaller regional writers, notes the newly released MSA Quarterly Outlook Report for

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Lloyd’s reports 1.46 billion pound profit for first half of 2016, combined ratio up 8.5 points to 98%

September 22, 2016 by Canadian Underwriter

Despite seeing a “major claims increase due primarily to the Fort McMurray fires in Alberta, Canada” and a challenging market environment, Lloyd’s of London has reported a profit of 1.46 billion pounds – or nearly $2.5 billion – for the

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Jardine Lloyd Thompson Group’s £36.2 million profit for 2016 H1 half of prior-year period: interim results

July 27, 2016 by Canadian Underwriter

Collaboration among its Specialty operations around the world is driving organic revenue growth for Jardine Lloyd Thompson Group plc (JLT), but the £36.2 million in profit for the first half of 2016 is half the £77.7 million for the same

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Underwriting performance for U.S. commercial lines likely to deteriorate in 2016: Fitch Ratings

May 18, 2016 by Canadian Underwriter

Underwriting performance for the commercial lines sector in the United States is likely to deteriorate in 2016, according to a report released on Tuesday by Fitch Ratings. The decline follows a three-year underwriting profit for the industry, with a combined