Industry
Arch Capital Group Ltd. has reported a net income of US$110.3 million for the second quarter of 2015 (ending June 30), compared to US$202.5 million for Q2 2014 and a combined underwriting ratio of 87.9%, compared to 86.2% for the same quarter in 2014. The company also reported on Wednesday an after-tax operating income of […]
By Canadian Underwriter | July 30, 2015
2 min read
Risks will drive a US$10 billion cyber insurance market by 2020, suggests ABI Research, a London, United Kingdom-based technology market intelligence company with offices in North America, Europe and Asia. With over 900 million reported records exposed in 2014, ABI Research said in a press release on Wednesday, “more companies are seriously starting to consider […]
3 min read
Swiss Re has reported a net income for the second quarter of US$820 million, compared to US$802 million in Q2 2014, driven by a strong increase in Life & Health Reinsurance. For the second quarter of 2015, Property & Casualty Reinsurance delivered a net income of US$453 million, compared to US$553 million for Q2 2014. […]
Kingsway Financial Services Inc. (KFS) is reporting an operating loss of US$2.499 million for the second quarter of 2015 compared to income of US$1.314 million for the same quarter of 2014, but adds the moves made in the second quarter to make the company simpler are positive for the future. The operating loss in 2015 […]
In a relatively stable insurance market, businesses paid nearly 1% (.99%) less in 2014 than they did in 2013 to cover the total cost of risk (TCOR) after three consecutive years of increases, according to the 2015 RIMS Benchmark Survey. Released on Wednesday, the survey – produced by RIMS, the Risk Management Society, and Advisen […]
By Canadian Underwriter | July 29, 2015
Arthur J. Gallagher & Co. released Tuesday its financial results for the second quarter, reporting a 24% year-over-year increase in adjusted brokerage revenues during a time when it made 13 acquisitions in its brokerage and risk management business. Itasca, Ill.-based Gallagher reported revenues of $1.371 billion in three months ending June 30, up 16.3% from […]
SCOR is on track to achieve targets in its “Optimal Dynamics” strategic plan, announcing Wednesday that its net income for the first half of 2015 was 327 million euros, 27.7% higher than it was for the first six months of 2014. The 327 million euros compares to 256 million euros for the first half of […]
London, United Kingdom-based Willis Group Holdings plc, the global risk advisory, re/insurance broking, and human capital and benefits firm, has reported a net income of US$70 million in the second quarter of 2015, ending June 30, compared to net income of US$47 million in the same quarter in the prior year quarter. Willis, which operates […]
Intact Financial Corporation’s net operating income for 2015 Q2 was $210 million – up 2% from the same quarter of 2014 – aided by all business lines contributing to organic growth in direct premium written (DPW) and higher underwriting income. Net operating income for the first six months of 2015 was also up, increasing 18% […]
4 min read
PartnerRe Ltd., a Pembroke, Bermuda-based reinsurer and commercial insurance carrier with a Toronto branch office, reported Monday it had a combined ratio in of 90.3% in the three months ending June 30, though Q2 revenues dropped 28.3% year over year. PartnerRe reported gross premiums written of $1.43 billion in Q2 2015, down 2% from $1.46 […]
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