Industry
RICHMOND HILL, Ont. – The latest DesRosiers Automotive report shows new vehicle sales in Canada saw a 2.6 per cent decline in July compared to the same month last year. The Richmond Hill, Ont.-based market research group says 173,304 vehicles were purchased last month, the second month where sales were down – the last being […]
By The Canadian Press | August 5, 2016
1 min read
Markel Corporation has reported a 3 point drop in its combined ratio for the second quarter of 2016 ending June 30, from 96% in Q2 2015 to 93% in the most recent quarter, despite a US$25.3 million underwriting loss related to the Fort McMurray wildfire. For the first six months of the year, the combined […]
By Canadian Underwriter | August 3, 2016
2 min read
Risk professionals would do well to consider "taking risk" as part of the risk management role. The art of taking that risk, however, demands risk professionals of all types have an understanding of conditions, influences and a clear plan on how best to go about meeting that objective.
By Jessica Wasserman, Office of Compliance and Risk Management, New York University | August 1, 2016
6 min read
Swiss Re Ltd. reported Friday its combined ratio in property and casualty reinsurance deteriorated 8.1 points, from 92.9% in the second quarter of 2015 to 101% in the three months ending June 30, due in part to losses from wildfires in Northern Alberta and earthquakes in Japan. “The first two quarters of 2016 were mainly […]
By Canadian Underwriter | July 31, 2016
3 min read
Global insurance and reinsurance company XL Group plc reported on Wednesday that its P&C combined ratio climbed 6.1 points in the second quarter of 2016 to 96%, while net income attributable to ordinary shareholders of US$43.8 million for the quarter decreased drastically compared to US$915 million in the prior year quarter. XL said in a […]
By Canadian Underwriter | July 28, 2016
Aspen Insurance Holdings Limited has reported a combined ratio of 100.7% for the second quarter of 2016 compared with 93.6% for the second quarter of 2015. Hamilton, Bermuda-based Aspen Insurance also reported a net income after tax of US$64.9 million and operating income after tax of US$34.1 million for the second quarter of 2016. Gross […]
4 min read
The Managing General Agent (MGA) market has continued to grow at a rate exceeding that of the property-casualty market overall, according to a new study by Conning, Inc., a Hartford, Conn.-based global investment management firm. “In our analysis of the MGA and program market, we found continued strong growth in excess of the overall property-casualty market, along with […]
By Canadian Underwriter | July 25, 2016
CALGARY – Analysts predict oil prices driven higher by production stoppages during the Fort McMurray, Alta., wildfires in May will bolster the bottom lines of Canadian oil and gas companies as they report financial results starting this week. Western Canada Select, the benchmark price for blended oilsands bitumen, rose by 58 per cent in the […]
By Jason Contant | July 21, 2016
Allied World Assurance Company Holdings AG reported Tuesday a 7.2-point improvement in its combined ratio, while the Fort McMurray, Alberta wildfires cost the carrier about $10.3 million and hail storms in Texas cost its reinsurance segment about $6 million and its primary insurance segment about $4.6 million. All figures are in United States dollars. Zug, […]
By Canadian Underwriter | July 20, 2016
Saskatchewan Government Insurance announced Monday that the province’s Auto Fund had an underwriting loss of $11.1 million for the 15 months ending March 31, 2016, while SGI Canada, the competitive arm of SGI, had underwriting income of $42 million during the same period. SGI Canada offers P&C insurance in Saskatchewan, Manitoba, British Columbia and Alberta […]
By Canadian Underwriter | July 19, 2016
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