Industry
The Canadian property and casualty insurance industry saw solid results for both direct premiums written (DPW) and net premiums written (NPW) in 2016, but that was countered by big decreases in both net income and underwriting income, note new figures released this week by MSA Research Inc. The figures reflect year-end 2016 financial data on […]
By Canadian Underwriter | March 22, 2017
1 min read
MSA Research Inc. (MSA) announced on Monday that it will carry exclusively the insurer ratings of DBRS Ltd. on its MSA Research Platform and printed reports. With this partnership, up-to-date ratings from DBRS will now be available at the fingertips of the “overwhelming majority” of players involved in the Canadian insurance market, including insurers, reinsurers, […]
By Canadian Underwriter | March 21, 2017
2 min read
Canada’s network of independent insurance brokers, the Canadian Broker Network (CBN), announced on Tuesday that Cal LeGrow Insurance Ltd., from St. John’s, Newfoundland, has joined the network. “We are thrilled to have Cal LeGrow join CBN,” Lorie Phair, managing director of CBN, said in a press release. “Their reputation in the Maritimes as professional brokerage […]
A survey indicates that most renters in Alberta, Ontario and British Columbia have home insurance, Square One Insurance Services Inc. suggested Monday. The Vancouver based firm “recently surveyed over 1,500 renters in British Columbia, Alberta and Ontario.” More than a third (35%) of Alberta renters do not have home insurance, while 46% and 43% in […]
By Canadian Underwriter | March 20, 2017
TORONTO – Stock indexes in Toronto and New York surged, while the loonie rose nearly a full U.S. cent, after the U.S. Federal Reserve raised its benchmark interest rate for the second time in three months. As widely expected, the central bank hiked its key short-term rate by a quarter-point to a range of 0.75 […]
By The Canadian Press | March 15, 2017
A new website from the non-profit Home Fire Sprinkler Coalition (HFSC) – HomeFireSprinklerCanada.ca – seeks to help increase interest in the life-saving benefits of installed home fire sprinklers in new construction homes. In partnership with and funding from the Co-operators Group Limited and national trade contractor’s association Canadian Automatic Sprinkler Association (CASA), the HFSC website […]
By Canadian Underwriter | March 14, 2017
Commercial insurance prices in the United States were almost flat during 2016 Q4, with price increases of less than 1% for the fifth straight quarter, Willis Towers Watson (WTW) reports in its latest Commercial Lines Insurance Pricing Survey (CLIPS). CLIPS compared commercial insurance prices charged on policies written during the 2016 Q4 to those charged […]
By Canadian Underwriter | March 13, 2017
Fairfax Financial Holdings Limited and Allied World Assurance Company Holdings jointly announced Friday that the former has exercised its option to increase the cash consideration component of its US$4.9 billion cash and stock offer to Allied World shareholders. In exercising the option, Fairfax Financial Holdings has upped the cash consideration component of its offer by […]
The largest single loss for Hannover Re last year was the Fort McMurray wildfire, with a “net strain” of 127.9 million euros, the reinsurer reported on Thursday. Hannover Re released its financial results on Thursday, reporting a Group net income of 1.17 billion euros for the 2016 financial year and a Property & Casualty reinsurance […]
By Canadian Underwriter | March 10, 2017
A bill tabled Wednesday in the Ontario legislature, by a backbench Liberal MPP, would limit lawyers’ contingency fees in the province, for personal injury claims, to 15%. If passed into law, Bill 103 would stipulate that “contingency fees be capped at 15%,” said Mike Colle, Member of Provincial Parliament for Eglinton-Lawrence. Insurance Brokers Association of […]
3 min read
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