Industry
Net written premiums in Canada were down 4% to 214 million pounds (£) for the first quarter of 2015 compared to the same quarter last year, RSA Group said on Thursday. Personal premiums in Canada were flat, with a 5% reduction in Motor offset by growth of 11% in Household, RSA said in a statement, […]
By Canadian Underwriter | May 7, 2015
2 min read
London, U.K.-based Aviva plc reported on Thursday that in Canada, the combined operating ratio (COR) improved 4.6 percentage points to 98.1% in Q1 2015 compared to 102.7% in Q1 2014, “reflecting better overall weather experience,” although claims frequency remained above long-term average. Net written premiums were also 1% lower, mainly due to selected exits from […]
Ingenie, an auto insurance provider for young drivers aged 16-24, announced on Thursday that it has appointed Lorie Phair as the CEO of ingenie Canada. “Traditionally, young drivers have been discriminated against and treated as a high risk by the insurance industry,” Phair said in a press release. “Our approach is to help young drivers […]
Munich Re has posted a consolidated profit of 790 million euros for the first quarter of 2015 – down 16% from 941 million euros in the same quarter of 2014 – but officials have voiced confidence that the company remains on track to achieve its annual target results. The operating result was down as well, […]
4 min read
Swiss businesses are ill prepared for cyberattacks, much too reactive in their approach and rely too heavily on technology while neglecting the human factor, according to a KPMG study released on Wednesday. The study, titled Clarity on Cyber Security, found that a majority (63%) of the companies surveyed indicated their organization could certainly be an […]
By Canadian Underwriter | May 6, 2015
3 min read
Intact Financial Corp., which has the greatest market share in the Canadian property & casualty insurance market, released Wednesday its financial results for the three months ending March 31, reporting a 5% increase, from Q1 2014, in direct premiums written, and a combined ratio of 93.4%, down 3.7 points from 97.1% in Q1 2014, while […]
6 min read
The Allstate Corporation, the United States’ largest publicly held personal lines insurer providing auto, home, life and other types of insurance to customers in the U.S. and Canada, reported a Property-Liability combined ratio of 93.7 in the first quarter of 2015, one point favorable to the prior year quarter. This resulted in underwriting income of […]
Nearly two-thirds of insurers expect that wearable technologies will be adopted broadly by the insurance industry in the next two years, according to a global survey released on Tuesday by Accenture, a management consulting, technology services and outsourcing company. The report, Accenture Technology Vision for Insurance 2015—Digital Insurance Era: Stretch Your Boundaries, highlights emerging developments […]
SCOR’s rigorous implementation of its strategic plan, coupled with profitable growth in both its Life and Property and Casualty businesses, helped propel the company’s net income for 2015 Q1 almost 30% higher than it was in 2014 Q1. The net income (consolidated net income, Group share) for the first quarter of 2015 was 175 million […]
The Co-operators announced on Tuesday that it has purchased a majority interest in The Edge Benefits, a Newmarket, Ont.-based company that provides self-employed and small business owners with lifestyle protection and complex living benefits solutions. The Cooperators said in a press release that the current management team will remain in place and The Edge Benefits […]
By Canadian Underwriter | May 5, 2015
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