Industry
Canadian auto sales are expected to edge down to 1.94 million units in 2017, coming off four consecutive record years, according to the Scotiabank Global Auto Report, released on Tuesday. Despite the beginning of a sales recovery in the resource-rich provinces, gains in Alberta and Saskatchewan are expected to be more than offset by declines […]
By Canadian Underwriter | February 7, 2017
3 min read
Pembroke, Bermuda-based AXIS Capital Holdings Limited has reported a net income available to common shareholders for the fourth quarter of 2016 of US$131 million, comparable to a net income of US$135 million for the fourth quarter of 2015. Net income available to common shareholders for the full year 2016 was US$465 million, down from $602 […]
By Canadian Underwriter | February 6, 2017
4 min read
Laura Van Vliet, recipient of the CIP Society's 2016 Emerging Leader Award, understands how effort, heart and education can build a career.
By Angela Stelmakowich, Editor | February 3, 2017
6 min read
Belle River, Ont.-based Lanoue Insurance Brokers Ltd. announced on Friday that it will join BrokerLink, one of the largest Canadian property and casualty insurance brokerages. Serving Ontario’s Windsor/Essex area, the firm specializes in personal, commercial, farm and marine insurance. Terms of the transaction, finalized on Thursday, were not disclosed. “For over 65 years, Lanoue employees […]
By Canadian Underwriter | February 3, 2017
2 min read
New issuance volumes for insurance-linked securities (ILS) were atypical in 2016, Swiss Re reported on Friday, noting that for the first time, the third quarter was larger than the second quarter. While the second quarter is typically the busiest of the year due to the wind season in the United States and it was “surprisingly […]
Zug, Switzerland-based Allied World Assurance Company Holdings, AG has reported a combined ratio of 99.8% for the fourth quarter of 2016, ending Dec. 31, compared to 97% in the fourth quarter of 2015. Allied World, a global provider of property, casualty and specialty insurance and reinsurance solutions, released its financial results on Wednesday. It reported […]
By Canadian Underwriter | February 2, 2017
CALGARY – The rumble of crude-oil-laden rail cars though Canadian towns won’t be silenced any time soon, but progress on the Line 3, Trans Mountain and Keystone XL pipelines means there could be far fewer in the future. “Down the road, if all those pipelines get built, then crude by rail becomes probably a moot […]
By Jason Contant | February 1, 2017
Mergers and acquisitions (M&A) of insurance agencies last year were the second-highest ever in 2016 at 449 deals in Canada and the United States, a slight dip from the all-time record of 456 in 2015, according to OPTIS Partners’ annual report. The report was released on Tuesday by the Chicago-based OPTIS, an investment banking and […]
By Canadian Underwriter | February 1, 2017
The industry-wide combined ratio of the United States property & casualty insurance industry is estimated to have deteriorated by 2.4 points to 100.7% in 2016, A.M. Best Company Inc. said in a recent report. The decline in underwriting performance “was driven” by “a return of catastrophe losses to a more historically average level and a […]
By Canadian Underwriter | January 31, 2017
A week after American International Group Inc. announced it expects to report next month a “material prior year adverse development charge” for Q4 2016, A.M. Best Company Inc. has placed the long-term issuer credit rating of the New York City-based insurer under review “with negative implications.” In a press release Jan. 20, AIG said it […]
By Canadian Underwriter | January 27, 2017
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