Keyword
profitability
Canadian P&C industry’s financial results take a turn for the better
June 18, 2021 by David GambrillCanada’s property and casualty insurance industry reported a much sunnier financial picture in 2021 Q1 than it did during the same time last year, according to a recent quarterly report by the Property and Casualty Insurance Compensation Corporation (PACICC). Financial…
What’s unique to this hardened real estate insurance market
September 17, 2020 by Adam MalikAt the same time insurers have a reduced appetite to take on real estate risks, real estate developers during a pandemic-induced economic recession have an aversion to investing a lot of money into risk-reduction measures. These twin dynamics are a…
How profitable have Canadian P&C insurers been so far this year?
December 18, 2019 by Jason ContantCanada’s property and casualty insurers posted moderate profitability in the first nine months of 2019, but poor underwriting results and high loss ratios linger, notes an executive from the Property and Casualty Insurance Compensation Corporation (PACICC). For Q3 2019 year-to-date…
What makes for a profitable brokerage in Canada?
August 16, 2019 by Jason ContantWhen it comes to brokerage profitability, size matters. Common characteristics of the most profitable Canadian brokerages are laid out in a recent report from P&C advisory and consulting firm Smythe Advisory. The Property & Casualty Insurance Brokerage Report 2019 analyzes…
Global reinsurers’ first-half 2017 results reflect pricing pressure, consolidation expected: Fitch
August 21, 2017 by Canadian UnderwriterGlobal reinsurers’ first half 2017 results provide further evidence of continuing pressure on pricing and earnings, Fitch Ratings said in a report released on Monday. “Intense competition among global reinsurers and the abundance of capital invested in the sector mean…
U.S. P&C industry sustains favourable rating activity in H1 2017: A.M. Best
August 17, 2017 by Canadian UnderwriterCredit rating activity for the United States’ property and casualty industry in the first half of 2017 was favourable, with upgrades outpacing downgrades, A.M. Best Company reported on Thursday. Nearly one-third of the 2017 upgrades were driven by “increased parental…
Greater risk of negative underwriting results for reinsurers predicted by S&P
August 15, 2017 by Canadian UnderwriterWith property catastrophe prices dropping during the 2017 renewals, combined with natural catastrophe losses exceeding US$50 billion last year, global reinsurers are at greater risk of having negative underwriting results and will tend to “shy away” from property catastrophe business,…
Global premiums up in 2016, growth lower but outlook still positive: Swiss Re
July 5, 2017 by Canadian UnderwriterThe 3.7% increase in global insurance premiums on the non-life side in 2016 was driven by expansion among the emerging countries and exceptional performance in China, although growth weakened in advanced economies, Swiss Re Institute suggests in its latest sigma…
U.S. P&C insurance industry’s net income drops 42.2% to US$7.7 billion in Q1 2017
June 26, 2017 by Canadian UnderwriterThe private property and casualty insurance industry in the United States saw its net income after taxes drop to US$7.7 billion in the first quarter of 2017 from US$13.4 billion in Q1 2016, a 42.2% decline, according to ISO, a…
43% of companies achieving positive outcomes from digital transformation investments: XL Catlin-sponsored survey
June 14, 2017 by Canadian UnderwriterMore than four in 10 companies surveyed for an XL Catlin-sponsored study have reported achieving positive outcomes from digital transformation investments, especially those using digital technology at all levels of operations, from supply chains and distribution networks to compliance activities…
Soft pricing in global reinsurance market to continue for at least the rest of 2017: Fitch
May 16, 2017 by Canadian UnderwriterThe 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…
161 companies have exited Canadian P&C market in past 20 years, 96% voluntarily: PACICC
April 13, 2017 Jason Contant, Online EditorOver the past 20 years, 161 different insurance companies have exited the Canadian P&C market, 96% of which were voluntary exits, according to a new report from the Property and Casualty Insurance Compensation Corporation (PACICC). The report, the 11th in…