As the Alan Parson Project once sang, “What goes up, must come down,” and predictions about industry profitability made two years ago are unfortunately coming true — including a marked downward trend of financial results in 2023, says one veteran…
Reinsurers reached a tipping point during their January renewal cycle that saw primary insurers bearing larger-than-usual rate increases. Which had the industry asking: How much of these reinsurance increases will make their way down to consumers? And do insurers have…
The Canadian cyber market in general has suffered some “pretty bad loss ratios in the last couple of years,” said Jack Bottomley, senior consultant for cybersecurity with KPMG in Canada. Not long ago, the industry saw its cyber loss ratio…
Canada’s property and casualty insurers should see increased overall profitability and premium rate increases as the industry’s 2023 outlook trends to positive, ratings firm DBRS Morningstar said in a new report. “The credit rating trend for the majority of DBRS…
Good overall underwriting results and solid risk-adjusted capitalization left the industry in a resilient position in 2021, despite the headwinds Canada’s P&C industry has faced in the last two-and-a-half years, according to AM Best’s Canada Market Segment Report. Headwinds the…
Last year saw the lowest-ever combined ratio in the Canadian P&C insurance industry, making it the third most profitable year for Canada’s P&C insurance industry since 1975, according to the Property and Casualty Insurance Compensation Corporation (PACICC). “The 2021 industry…
The hard market may be the biggest challenge facing the broker channel, according to Canadian Underwriter‘s 2022 National Broker Survey, but statistics show it’s vastly improved the P&C industry’s financial health. Canada’s property and casualty insurance industry reported an underwriting…
Canada’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…
At 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…
Canada’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…
When 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 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…