Canadian Underwriter

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Hannover Re sees dip in net income, lower gross written premiums for 2016 H1 compared to 2015 H1

August 4, 2016 by Canadian Underwriter

Hannover Re saw net income fall 8.6% to 486.1 million euros for the first half of 2016 from 531.9 million euros in the prior-year half, but remains confident the company is on track to achieve its full-year target of at

News Insurance

Markel reports 3-point drop in combined ratio in Q2 2016 to 93%, US$25.3 million underwriting loss related to Fort McMurray wildfire

August 3, 2016 by Canadian Underwriter

Markel Corporation has reported a 3 point drop in its combined ratio for the second quarter of 2016 ending June 30, from 96% in Q2 2015 to 93% in the most recent quarter, despite a US$25.3 million underwriting loss related

News Earnings / RatingsInsurance

Fort McMurray wildfire adds 9.2 points to Northbridge Insurance’s Q2 combined ratio

August 3, 2016 by Canadian Underwriter

The recent wildfire in and near Fort McMurray, Alberta resulted in net incurred losses of $13.5 million for OdysseyRe and $20.9 million for Northbridge Insurance, the carriers’ parent company reported recently. All figures are in United States dollars. Fairfax Financial

News AssociationsInsuranceLegislation / RegulationMarkets / CoveragesProfessional Development

Mutual insurers seeing revival in recent years: Swiss Re sigma report

August 2, 2016 by Canadian Underwriter

Mutual insurers’ share of the overall insurance market increased from 24% of direct premiums written in 2007 to just over 26% in 2014, reversing some of the declines of previous decades, according to Swiss Re’s latest sigma report. Released on

News Earnings / RatingsInsuranceMergers and Aqcuisitions

P&C combined ratio improves one point to 97.4% for CNA Financial, net income at US$209 million for Q2 2016

August 2, 2016 by Canadian Underwriter

CNA Financial Corporation has announced a one point improvement in its P&C combined ratio for the second quarter of 2016 ending June 30, from 98.4% last year to 97.4% in the most recent quarter. For the first six months of

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Loss ratio up 3 points for Arch Capital

July 28, 2016 by Canadian Underwriter

Arch Capital Group Ltd. reported Wednesday a 1.4-point increase in its second-quarter combined ratio and 42% increase in net income, with growth in its travel, construction and national accounts. Pembroke, Bermuda-based Arch Capital’s operations include commercial insurer Arch Insurance Canada

News Earnings / RatingsInsurance

Kingsway Financial Services reports operating loss of US$1.1 million for Q2 2016, slight operating income for underwriting segment

July 22, 2016 by Canadian Underwriter

Toronto-based Kingsway Financial Services Inc. has reported an operating loss of US$1.1 million for the second quarter of 2016 ending June 30, compared to US$2.5 million for the second quarter of 2015. Kingsway released its financial results on Friday, indicating

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Berkshire Hathaway Specialty Insurance enters into transactional liability insurance market in Canada and the U.S.

July 19, 2016 by Canadian Underwriter

Berkshire Hathaway Specialty Insurance (BHSI) announced on Tuesday that it has expanded into the transactional liability insurance market in Canada and the United States. BHSI also said in a press release that it has named Robert Underhill as senior vice

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Q1 claims costs up 48.1% at Manitoba Public Insurance

July 19, 2016 by Canadian Underwriter

Manitoba Public Insurance Corp., the crown corporation that writes auto insurance in the province, reported Friday its underwriting loss was $33.8 million during the three months ending May 31. MPI had reported underwriting income of $40.73 million in the three

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Chubb introduces insurance product for private Canadian companies

July 18, 2016 by Canadian Underwriter

Chubb Ltd. announced on Monday that it has launched a modular insurance policy designed specifically for Canadian privately owned companies. ForeFront Portfolio addresses the broad range of liability risks faced by Canadian private companies in an increasingly risky and litigious

News CatastrophesInsuranceMergers and AqcuisitionsTechnology

Impact Forecasting launches new cat modelling platform, including new flood models for Canada

July 12, 2016 by Canadian Underwriter

Impact Forecasting announced on Tuesday that it has launched ELEMENTS 10, its complete catastrophe modelling platform, which includes new flood models for Canada. ELEMENTS 10 offers the ability to run insurers’ own or third-party model, plus access to new flood

News InsuranceMergers and Aqcuisitions

Written premium prices on Canadian commercial policies in Q1 2016 up 1.2% from prior year quarter: Willis Towers Watson survey

July 11, 2016 by Canadian Underwriter

Written premium price levels charged on insurance policies underwritten during the first quarter of 2016 increased 1.2% from the prior year quarter, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey – Canada (CLIPS Canada). The most recent survey,