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…
At 18%, the industry’s return on equity was sky-high for the first three quarters of 2021, but industry observers warn this could be cut in half in two years. While these high profits have reduced solvency risk for most…
Disciplined underwriting and strong investment returns contributed to Swiss Re recording net income of US$1.2 billion for the first half of 2017, although catastrophe claims served to reduce the total from the comparable period in 2016. Net income for Swiss…
The insurance industry in Canada saw a 6.6% hike in the combined operating ratio for the first quarter of 2017, from 94.7% in Q1 2016 to 101.3% in the first three months of this year, MSA Research Inc. president and…
The Fort McMurray wildfire and other large weather events combined with the lowest return on investment (ROI) in decades to produce a very difficult year for Canada’s p&c insurance industry in 2016, David McGown, senior vice president of strategic initiatives…
Lévis, Que.-based Desjardins General Insurance Group (DGIG) – a Desjardins Group subsidiary specializing in property and casualty insurance – has reported a net income of $12.1 million in the third quarter of 2016 ending Sept. 30, compared to a net…
The Co-operators General Insurance Company posted $16.3 million in consolidated net income for 2016 Q3 compared to a net loss of $21.4 million in the prior-year quarter. “During the quarter, there were no material changes to the company’s estimated net…
Aon Benfield is forecasting continued growth in direct homeowners insurance premiums in the United States for 2016, despite a decreasing return on equity (ROE) for insurers. Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, released its…
A proposal to require Ontario lawyers and paralegals to disclose how they calculate fees is supported by The Co-operators Group Ltd. Bill 12 – An Act to amend the Law Society Act, the Insurance Act and the Solicitors Act with…
About three-quarters of polled insurers south of the border “have lowered their target return-on-equity expectations to 10% or lower,” notes a new special report released Thursday by A.M. Best. The lowered expectations are “a reflection of highly competitive market conditions…