Canada’s largest P&C insurers growing larger: AM Best
September 12, 2022 by Jason ContantCanada’s Top 10 property and casualty insurers control almost three-quarters of the marketplace, with the remaining participants competing for the balance of available premium, ratings agency AM Best said during an industry event Friday. The Top 10 P&C carriers control…
Intact’s game plan in personal auto
August 2, 2022 by Alyssa DiSabatinoIntact’s personal auto insurance premiums grew by 28% in 2022 Q2, but the company says its auto game plan is “not only pricing-driven,” the CEO reported during Intact’s recent earnings call. “Equally important is how we manage claims and our…
Claude Dussault to retire from Intact’s board
March 31, 2022 by Jason ContantClaude Dussault, chairman of the board of directors for Intact Financial Corporation (IFC), will retire at the end of his current term, although he will stay on in different roles with the company, Canada’s largest property and casualty insurer said…
How far Intact’s specialty reach has expanded
February 15, 2022 by Jason ContantIntact Financial Corporation CEO Charles Brindamour says Canada’s largest P&C insurer has established a “truly global platform” that can now reach 70% of the global specialty solutions market with the expertise it has on board. “The thing that I like…
Why Intact beat its own expectations in recent quarters
February 9, 2022 by Jason ContantIntact Financial Corporation expects its combined ratio to marginally improve in Canada as it continues to beat its own financial result expectations, the insurer’s chief financial officer says during an earnings call. Canada’s largest insurer saw operating direct premiums written…
Where Intact CEO sees personal home rates heading
February 7, 2022 by Jason ContantPersonal home insurance will continue to face a firm pricing environment for the foreseeable future, the CEO of Intact Financial Corporation said at a recent virtual conference. “You can expect a firm pricing environment, mid- to upper-single-digit range for the…
How Intact is faring with the RSA integration
February 3, 2022 by Jason ContantIntact Financial Corporation’s integration of RSA plc is on track, with earnings slightly better than originally anticipated, the insurer’s chief executive officer reports. The deal increases Intact’s specialty lines presence in North America by close to 30%, Intact Financial Corporation…
What Intact paid for Cats last quarter
January 12, 2022 by Jason ContantIntact paid out an estimated $186 million for catastrophe losses in 2021 Q4, the company reported. “Approximately 55% of the catastrophe losses were in our Canada segment, with half in personal property,” IFC says in a press release. “This mostly…
How much Intact has improved its personal property loss ratio
November 15, 2021 by Greg MeckbachAs home insurance prices continue to climb, Intact Financial Corp. reported an underwriting profit in personal property in the latest quarter, despite higher-than-normal weather catastrophe losses. The personal property line “should operate” with combined ratios below 95% “even with severe…
Why Intact is paying out less on total auto losses
November 10, 2021 by Greg MeckbachIntact Financial Corp. is maintaining a mid-80s combined ratio on its Canadian personal auto book of business, with a slight decrease in the severity of total losses. At Intact, the severity of claims on auto physical damage was 5% higher…
Intact discusses RSA talent, Wawanesa looks to expand footprint in Ontario
October 22, 2021 by Jason ContantLouis Gagnon, Intact Insurance’s president of Canadian operations, is pleased with the insurer’s integration of RSA into its operations and the calibre of talent it has acquired. At the beginning of June, Intact Financial Corporation and Danish insurer Tryg A/S…
Biggest insurers will soon control more of the market: A.M. Best
September 16, 2021 by Greg MeckbachCanada’s Top 5 property and casualty insurers control nearly half the market, with the largest increasing their market share further, an A.M. Best Company analyst said Wednesday. About two-thirds of direct premiums written, in Canadian P&C insurance, are controlled by…