News

Precarious Optimism… Precarious Optimism… Image

Industry

Precarious Optimism…

With a return on equity (ROE) of just over 18%, negative claims cost growth, nearly an eight percentage point reduction in the combined ratio to 90.7%, and a healthy boost to companies’ surplus coffers, the Canadian property and casualty insurance industry has many reasons to be pleased with its 2004 performance. In fact, based on […]

By Sean van Zyl | March 31, 2005

4 min read

National Broker Review: Flying High? National Broker Review: Flying High? Image

Risk

National Broker Review: Flying High?

2005 would seem to be the "year of the broker" with total premiums in Canada having more than doubled over the past four years, prices now declining, and coverage availability rising in both personal and commercial lines. And, perhaps best of all, brokers countrywide report a significant drop in public hostility with much higher customer retention levels. The exuberance emanating from independent brokers suggests the profession is "flying high" after having been tested by what many in the insurance industry regard as the toughest market cycle yet experienced. However, brokers remain aware of the industry's vagarious business cycle - which like an unpredictable air current can cause those daring to ride it to soar or crash.

By Sean van Zyl, Editor | March 31, 2005

13 min read

45 Years – In Retrospect 45 Years – In Retrospect Image

Industry

45 Years – In Retrospect

After 45 years in the insurance industry - of which the last 13 years were committed to the multi functions of helmsman and "engine room mechanic" of Canada's largest provincial independent broker association, the Insurance Brokers Association of Ontario (IBAO) - Bob Carter has announced his retirement plans. And, in looking back to the "rockin' sixties" when he first entered the world of insurance, Carter believes the business has undergone dramatic change in virtually every aspect of its operation. But, the biggest change is the people in the industry, he observes, and how they interact today compared with the lighter times of yesteryears.

By Sean van Zyl, Editor | March 31, 2005

6 min read

Insurers’ 2004 performance suggests “growth peak” Insurers’ 2004 performance suggests “growth peak” Image

Risk

Insurers’ 2004 performance suggests “growth peak”

The final 2004 financial results of the Canadian property and casualty insurance industry – as compiled by the Insurance Bureau of Canada (IBC) – point to a future decline in premium growth as well as reduced operating margins, the bureau’s chief economist Jane Voll predicted at the recently held Swiss Re Co. of Canada annual […]

March 31, 2005

3 min read