Canada’s solvency regulator released the property and casualty insurance industry’s first-quarter financial results for 2023, and under IFRS 17 reporting standards, the results look – er, different. Gone are the industry’s familiar financial metrics and key performance indicators (KPIs), such…
Despite an 8% increase in direct premiums written in 2022, and generally stabilizing—if not decreasing—loss ratios in several key business lines, Canadian P&C insurers’ net investment returns took a huge hit from the impact of rising interest rates last year,…
COVID-19 last year might have been the end of the world as we know it, to riff on a song by R.E.M., but Canada’s P&C insurance industry is doing fine — financially, at least. After a full year of the…