Industry
PartnerRe Ltd. reported a combined ratio of 87.7% during the three months ending June 30, a 20.6-point improvement over 108.3% during the same period in 2016, when Canada experienced its most expensive natural disaster ever and a loss from an energy client cost PartnerRe $42 million. Hamilton, Bermuda-based PartnerRe, which has a Canadian branch, reported […]
By Canadian Underwriter | August 1, 2017
3 min read
Jardine Lloyd Thompson Group PLC recently released its financial results for the first six months of this year, reporting a 3% drop, on a constant rate of exchange, of risk and insurance revenue in Canada. London-based JLT reported July 27 that worldwide, its risk and insurance revenue was £540.8 million for the first six months […]
By Canadian Underwriter | July 31, 2017
2 min read
Axis Capital Holdings Ltd. reported Wednesday a 4.6-point improvement in its Q2 combined ratio, from 102.2% in the second quarter of 2016 to 97.6% in the latest quarter. Pembroke, Bermuda-based Axis Capital writes both reinsurance and commercial primary insurance worldwide and has a Toronto office. Axis Capital reported July 26 that it had net premiums […]
By Canadian Underwriter | July 28, 2017
French reinsurer SCOR has reported a net income of 292 million euros for the first half of the year, up from 275 million euros in the first half of 2016. The company’s net combined ratio in P&C was 93.5% for the first six months of the year, ending June 30, down 0.3% from 93.8% in […]
By Canadian Underwriter | July 27, 2017
A report released April 11 by the Ontario finance ministry “contains many useful learnings” for British Columbia’s government-run auto insurer, Ernst & Young LLP suggested in a report released July 24. In Affordable and Effective Auto Insurance – a New Road Forward for British Columbia, EY commented that B.C.’s auto insurance system “has structural problems” […]
The process of suing for compensation for motor vehicle accidents “could be made far more efficient” in British Columbia, whose monopoly auto insurer’s basic accident benefits are “low compared to modern medical and rehabilitation costs” in care-based auto insurance schemes elsewhere, Ernst & Young LLP said in a report released this week. The report is […]
By Canadian Underwriter | July 26, 2017
4 min read
Chubb Limited has reported a P&C combined ratio of 88% for the second quarter of 2017 ending June 30, down 3.2 points from 91.2% in the same quarter last year. Chubb released its financial results on Tuesday. The insurer reported a net income of US$1.31 billion, up 79.6% from US$726 million in Q2 2016 and […]
The global insurance brokers sector will reach US$54.8 billion in 2021, according to data from research company MarketLine. The global insurance brokers sector has experienced “impressive growth” in recent years, registering a compound annual growth rate (CAGR) of 7% between 2012 and 2016 to reach a value of US$42.8 billion, MarketLine said in a blog […]
By Canadian Underwriter | July 25, 2017
Saskatchewan Government Insurance reported Thursday a consolidated loss ratio of 60.4% for the year ending March 31, 2017, while 77% of all eligible homeowner policies have optional water protection coverage introduced last year. SGI Canada – the trade name of Regina-based crown corporation SGI – introduced a new optional water protection coverage for home customers […]
By Canadian Underwriter | July 21, 2017
Solid net investment income was not enough to offset higher catastrophe losses and lower underlying underwriting gains, contributing to the Travelers Companies, Inc. witnessing lower net income for 2017 Q2 compared to 2016 Q2. Net income was US$595 million for the quarter ended June 30, 2017, compared to US$664 million for the same quarter of […]
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