Majority of Canadian P&C market reports 2009 underwriting loss: MSA Research

More than half (51%) of the 216 insurance companies reporting 2009 year-end data to MSA Research posted an underwriting income for the year.Eighty-eight of the 216 companies reported a combined ratio of 100% or more. MSA Research has posted a summary of the 2009 year-end results on its Web site (www.msaresearch.com). The summary represents about 95% of the Canadian market.A sampling of the 2009 year-end results of individual companies that reported more than $1 billion in net written premiums include (in alphabetical order):•    Aviva Insurance Company of CanadaNet Premium Written: $1.6 billionUnderwriting Income: $92.6 million lossNet Income: $15 millionCombined ratio: 106.4%

•    Co-Operators General Net Premium Written: $1.4 billionUnderwriting Income: $31.7 million lossNet Income: $74 millionCombined Ratio: 102.3%

•    Dominion of CanadaNet Premium Written: $1.1 billionUnderwriting Income: $144 million lossNet Income: $151 million lossCombined Ratio: 113.3%

•    Economical MutualNet Premium Written: $1.4 billionUnderwriting Income: $111.8 million lossNet Income: $24.1 million Combined Ratio: 107.9%

•    Intact Insurance CompanyNet Premium Written: $1.7 billionUnderwriting Income: $4.9 millionNet Income: $12.6 millionCombined Ratio: 99.7%

•    State Farm Mutual AutoNet Premiums Written: $1.4 billionUnderwriting Income: $478 million lossNet Income: $220 million lossCombined Ratio: 135.5%

•    Security National Insurance Company (TD Assurance)Net Premiums Written: $1.2 billionUnderwriting Income: $59 million lossNet Income: $68.6 million Combined Ratio: 105.1%

•    Wawanesa Mutual Insurance CompanyNet Premiums Written: $1.8 billionUnderwriting Income: $68 million lossNet Income: $99.6 millionCombined Ratio: 104.1%