Keyword
Underwriting
Total revenues for Allianz Group up 3.5% to 95.5 billion euros in first nine months of 2015
November 6, 2015 by Canadian UnderwriterTotal revenues for Allianz Group rose 3.5% to 95.5 billion euros in the first nine months of the year, while net income increased 3.9% to 5.20 billion euros, the Munich, Germany-based international insurer said on Friday. Allianz said that operating…
Echelon Financial Holdings reports $3.7 million net loss for 2015 Q3 compared to $5.5 million net income in prior-year quarter
November 6, 2015 by Canadian UnderwriterEchelon Financial Holdings Inc. (EFH) has reported a net loss of $3.7 million for the three months ended Sept. 30, 2015 compared to net income of $5.5 million – a 167% decrease – for the same quarter in 2014. For…
Economical Insurance’s combined ratio improves 18.4 points in Q3 2015 to 89.8%
November 3, 2015 by Canadian UnderwriterWaterloo, Ont.-based property and casualty company Economical Insurance has reported a combined ratio of 89.8% for the third quarter of 2015 ending Sept. 30, an 18.4 point improvement from its Q3 2014 combined ratio of 108.2%. The personal auto combined…
AIG reports net loss of US$231 million in 2015 Q3, down from net income of $2.2 billion in 2014 Q3
November 3, 2015 by Canadian UnderwriterAmerican International Group, Inc. has reported the company has posted a net loss of US$231 million for the third quarter of 2015 compared to net income of $2.2 billion for the same quarter of 2014. “Compared to the prior-year quarter,…
CNA Financial Corporation’s P&C Operations’ combined ratio improves to 85.7% in Q3 2015 from 96.1%
November 2, 2015 by Canadian UnderwriterCNA Financial Corporation has reported Property & Casualty Operations’ combined ratio for the third quarter of 2015 was 85.7%, down from 96.1% from the third quarter of 2014. CNA announced its third quarter results on Monday, noting in a statement…
New demands under privacy act could pose some challenges
November 2, 2015 Angela Stelmakowich, EditorMost new requirements ushered in by the Canadian Digital Privacy Act (DPA) are very helpful and provide a fix, but a number could pose some challenges, including maintaining a record for every breach, John Beardwood, a partner with Fasken Martineau…
Fairfax reports underwriting profit down 15.1% for OdysseyRe, combined ratio improves 8.8 points at Northbridge Insurance
October 30, 2015 by Canadian UnderwriterExplosions Aug. 12 in the Chinese port of Tianjin contributed 9.5 points to OdysseyRe’s combined ratio in the quarter ending Sept., 30, the insurer’s parent company reported Thursday, while Toronto-based Northbridge Insurance had a 9.1% drop in Q3 net premiums…
The Co-operators experiences improvements in loss ratio for home, commercial and farm lines
October 30, 2015 by Canadian UnderwriterThe Co-operators General Insurance Company has reported a combined ratio of 104% for the third quarter of 2015, down from 109.2% in the third quarter of 2014. Co-operators General is part of The Co-operators Group Limited, a Canadian-owned co-operative. Through…
Consumer-based approach key, consolidation a potential threat to making Ontario auto insurance market competitive
October 30, 2015 Angela Stelmakowich, EditorTaking a consumer-based approach to auto insurance is what allowed New Jersey to punt the perennial political football from the state arena and create a truly competitive market – something that Holly Bakke suggests Ontario could accomplish as well. “What…
Understanding consumer view key to meeting expectations: Forgeron
October 29, 2015 Angela Stelmakowich, EditorConsidering things from the consumer perspective is important for insurers to truly understand – and, in turn, be able to respond to – ever-evolving consumer expectations, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), suggested Thursday at…
Arch reports growth in construction insurance business, increase in attritional large losses in reinsurance
October 29, 2015 by Canadian UnderwriterArch Capital Group Ltd. has reported a 2.2-point improvement in its Q3 insurance combined ratio and a 5.8-point deterioration in its reinsurance combined ratio, while Q3 gross written premiums increased 3.5% year over year. Hamilton, Bermuda-based Arch released Wednesday its…
Net premiums written for AXIS Capital’s Insurance segment up 5% in third quarter
October 28, 2015 by Canadian UnderwriterPembroke, Bermuda-based AXIS Capital Holdings Limited has reported a combined ratio of 96.6% for the third quarter of 2015, compared to 92.2% in Q3 2014, and net premiums written (NPW) for its Insurance segment of US$381 million, an increase of…