Industry
Berkshire Hathaway Inc. has reported insurance premiums earned for 2016 of US$45.88 billion, up from US$41.29 billion in 2015. Omaha-Neb.-based Berkshire Hathaway has also reported Insurance-underwriting operating earnings of US$548 million for the fourth quarter of 2016 ending Dec. 31, up dramatically from US$306 million in the same quarter in 2015. For the full year […]
By Canadian Underwriter | February 27, 2017
2 min read
RSA Group has reported a record Group underwriting profit of 380 million pounds for 2016 – up 73% from 220 million pounds in 2015 – and a record Group combined ratio of 94.2% compared to 96.9% in 2015. RSA also reported in its financial results released on Thursday a Group operating profit of 655 million […]
By Canadian Underwriter | February 24, 2017
3 min read
PartnerRe Ltd., which has a Toronto branch office, reported an eight-point deterioration in its combined ratio, from 85.6% in 2015 to 93.6% in 2016, while the net loss in Q4 2016 was US$173.7 million. In addition to reinsurance, Hamilton, Bermuda-based PartnerRe writes commercial auto, agriculture, aviation/space, credit/surety, engineering, energy and marine, among others. Net premiums […]
By Canadian Underwriter | February 23, 2017
Mike Robinson, president and CEO of PBL Insurance Limited, has been named chairman of the Canadian Broker Network (CBN), a network of independent insurance brokers. Robinson takes the reins from Tim Miller, president of Capri Insurance Services, who as chairman, “focused his energy on fostering higher levels of collaboration between the members, growing the membership […]
Toronto-based Fairfax Financial Holdings has released its most recent financial results for the fourth quarter and full-year 2016 ending Dec. 31, reporting a combined ratio for its insurance and reinsurance operations of 92.5% on a consolidated basis. This result produced an underwriting profit of US$575.9 million, compared to a combined ratio of 89.9% and underwriting […]
By Canadian Underwriter | February 17, 2017
It was a mixed bag for Echelon Financial Holdings Inc. (EFH) in the fourth quarter of 2016, with strong commercial lines results and lower personal lines results combining to contribute to a 70% drop in net income to about $2.6 million compared to 2015 Q4. Specifically, net income in 2016 Q4 was approximately $2.6 million […]
4 min read
Industrial Alliance Insurance and Financial Services Inc. has reported a net income attributed to common shareholders of $155 million in the fourth quarter of 2016 ending Dec. 31, up dramatically from net income of $4.2 million in the same quarter of 2015. Year-to-date net income was $553.7 million compared to $386.4 million in 2015. Quebec […]
By Canadian Underwriter | February 16, 2017
Arch Capital Group Ltd. reported Monday a combined ratio of 99.4% in insurance during the last three months of 2016 due in part to Hurricane Matthew, while net favorable development, due in part to better than expected claims emergence in short-tail business, reduced its loss ratio in reinsurance during the last three months of 2016. […]
By Canadian Underwriter | February 14, 2017
Markel Corp. reported this week a 7.8% increase in net premiums written while the combined ratio deteriorated by three points in 2016 as the Richmond, Va.-based insurer experienced a $46.6-million underwriting loss related to Hurricane Matthew. Markel released Wednesday its financial results for 2016. Net premiums written were $839.1 million in the latest quarter, up […]
By Canadian Underwriter | February 10, 2017
Wildfires in Tennessee, an earthquake in New Zealand, Hurricane Matthew and energy-related losses all contributed to a 20.2-point deterioration in the fourth-quarter loss ratio in reinsurance for Aspen Insurance Holdings Ltd., while in primary insurance, Aspen reported a combined ratio of 109.1% in Q4 as net premiums written in marine, aviation and energy dropped more […]
By Canadian Underwriter | February 9, 2017
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