Royal & SunAlliance Canada reported a strong performance in 2006, with premium growth of 9% and a combined operating ratio of 92%.
Royal & SunAlliance Canada reported an underwriting profit of Cdn$100 million, which is 75% above that of the previous year. Net written premiums were up 9%, to Cdn$1.4 billion, with Cdn$262 million in new business.
“We have performed significantly better than the industry average, reporting growth of 9%, compared to estimated average growth in the industry of about 3%, while continuing to deliver strong bottom line performance,” Royal & SunAlliance president and CEO Rowan Saunders said in a press release.
Personal insurance, including Johnson Inc., reported an underwriting profit of Cdn$83 million “due to a strong auto result and lower than expected weather claims,” the company reported.
The commercial insurance division posted 21% growth in 2006; an underwriting profit of Cdn$17 million was driven by strong growth in property, EBI and marine.
The commercial division in 2006 launched ClearSky Solutions, a suite of products designed around renewable energy (including wind energy). In the area of small business, the commercial team added products in light manufacturing and construction.