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U.S. yearend figures dismal

May 1, 2000 by Canadian Underwriter

For the 1999 financial year the U.S. property and casualty insurance industry produced a disappointing 6.6% rate of return compared with 9.2% for 1998 and 11.9% for the year prior. The industry’s drop in shareholder returns for the year was…

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High Impact Ahead

May 1, 2000 Sean van Zyl, Editor

With the growth of property and casualty insurance industry earnings having plummeted to almost a 20-year low on the back of poor investment returns and intense rate competition — which saw last year’s annual rate of premium growth clock in…

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Slow and steady wins the race

May 1, 2000 Paul Kovacs, Senior vice president at the Insurance Bureau of Ca

In April, the Canadian government stopped underwriting domestic credit insurance. This is a welcome response to our ongoing industry lobby. This breakthrough shows that a persistent and sustained effort is the key to eventually convince governments to also exit other insurance businesses across Canada.

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U.S. Insurers look beyond the ratio

March 1, 2000 Lowell Conn & Sean van Zyl

U.S. insurers are fortifying themselves for lower profitability and a higher operating ratio in the coming year, a survey revealed at the 2000 Property & Casualty Insurance Joint Industry Forum recently in New York City. Industry chiefs insist that, despite heightened merger and acquisition in the year ahead, the overcapitalized insurance environment could soon be swept away by an abundance of cost-absorptive changes.

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The Technology PINCH

March 1, 2000 Laird Laundy, an independent insurance consultant

Generally speaking, I am an optimist about the role technology plays in our society, but I am certainly not an unabashed enthusiast. I often find, as I deal with various service suppliers, especially call-centers, that the cutting edge is not so much a finely honed blade as a blunt cleaver in need of a good refurbishing.

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U.S. fin-reform focuses CEO strategy planning

March 1, 2000 Sean van Zyl, Editor

The repeal of the U.S. Glass-Steagall legislation toward the end of last year has opened what many in the property and casualty insurance industry see as a “Pandora’s box”. The legislation was replaced with the Financial Services Modernization Act of…

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The Political Lobbying War Heats UP

March 1, 2000 Sean van Zyl

Control over the distribution of insurance products is once again back on the property and casualty insurance industry’s radar screen as the federal government’s proposed white paper on financial services competition is set to go forward before parliament for legislative…

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Developing niche lines of business: The garage sale closed

March 1, 2000 by Lowell Conn

When the “garage sale” begins and market players undercut one another, nowhere is the reverberations felt any stronger than the specialty lines business. Niche operators want the message to be clear: “Stay out of out of our business”. More to…

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Kingsway reports fourth quarter loss

March 1, 2000 by Canadian Underwriter

Kingsway Financial Services Inc. (TSE: KFS) has announced a fourth quarter 1999 loss of 40 to 45 cents per share. The company expects to report a combined ratio of approximately 102% for fiscal 1999, a marked increase from 1998’s year-end…

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GETTING TO GRIPS WITH CLAIMCOSTS

January 1, 2000 Sean van Zyl, Editor

With little room to maneuver on premium growth and enhancing investment returns, property and casualty insurers are likely to turn their attention in the year ahead to better risk selection and improved claims handling efficiency to boost bottom-line performance, industry…

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Commercial Risk Under JIT

January 1, 2000 by Canadian Underwriter

The “just-in-time” (JIT) efficiency supply process has over recent years become more than just a popular fad among manufacturers, it has become an engraved business philosophy having produced significant operating savings to companies. However, when evaluating commercial coverages, insurers need to carefully weigh up all the risk factors associated with JIT.

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Investments plague Canadian and U.S. insurers

January 1, 2000 by Canadian Underwriter

The 1999 third quarter returns for both Canadian and U.S. property and casualty insurers show little improvement in net earnings, with the return on investment of both sectors now hovering at around the 7% mark. The real problem child surfacing…