Risk
An organization’s exposure to political risk depends on the independence of the judiciary in the countries in which it operates, and risk managers should not assume that only emerging markets have political risk, Risk and Insurance Management Society (RIMS) Inc. suggested in a recent report. “The paradigm dividing the world into developed and developing countries […]
By Canadian Underwriter | August 4, 2016
3 min read
The recent wildfire in and near Fort McMurray, Alberta resulted in net incurred losses of $13.5 million for OdysseyRe and $20.9 million for Northbridge Insurance, the carriers’ parent company reported recently. All figures are in United States dollars. Fairfax Financial Holdings Ltd. released July 28 its financial results for the quarter and six months ending […]
By Canadian Underwriter | August 3, 2016
4 min read
American International Group, Inc. (AIG) has reported a 3.3% deterioration in its combined ratio for the second quarter of 2016, from 98.8% in Q2 2015 to 102.1% in the most recent quarter, reflecting underwriting loss driven by higher catastrophe losses, among other factors. AIG reported its financial results on Tuesday. Property casualty pre-tax operating income […]
Aon plc reported a 1% increase in retail brokerage revenue for the three months ending June 30 compared to the same period in 2015. London-based Aon released Friday its financial results for the second quarter. In risk solutions (which includes its retail brokerage and reinsurance brokerage), Aon reported revenue of $1.847 billion in the most […]
By Canadian Underwriter | August 2, 2016
CNA Financial Corporation has announced a one point improvement in its P&C combined ratio for the second quarter of 2016 ending June 30, from 98.4% last year to 97.4% in the most recent quarter. For the first six months of the year, the company’s combined ratio improved from 98.6% in H1 2015 to 96.8% in […]
Itasca, Ill.-based Arthur J. Gallagher & Co. (AJG) released its financial results on Thursday, announcing that its brokerage segment revenues were up to US$939.1 million as reported in the second quarter of 2016 from US$885.6 in Q2 2015. For the first half of 2016 ending June 30, brokerage revenues were US$1.76 billion, compared to US$1.63 […]
By Canadian Underwriter | July 29, 2016
2 min read
Marsh & McLennan Companies, Inc. (MMC) has reported that revenue for the United States/Canada division of Marsh was up to US$804 million for the second quarter of 2016 ending June 30, from US$760 in the same quarter in 2015. For the first six months of the year, revenue for the U.S./Canada division was US$1.505 billion, […]
Arch Capital Group Ltd. reported Wednesday a 1.4-point increase in its second-quarter combined ratio and 42% increase in net income, with growth in its travel, construction and national accounts. Pembroke, Bermuda-based Arch Capital’s operations include commercial insurer Arch Insurance Canada Ltd. and the Canadian branch of Arch Reinsurance Company. During the three months ending June […]
By Canadian Underwriter | July 28, 2016
Reinsurance provider and commercial specialty carrier Axis Capital Holdings Ltd. reported Tuesday its financial results for the second quarter, reporting a 76% increase in net income but a combined ratio of 102.2%, after large losses including the Alberta wildfires and the earthquake in April in Ecuador. Pembroke, Bermuda-based Axis Capital has an office in Toronto. […]
By Canadian Underwriter | July 27, 2016
Collaboration among its Specialty operations around the world is driving organic revenue growth for Jardine Lloyd Thompson Group plc (JLT), but the £36.2 million in profit for the first half of 2016 is half the £77.7 million for the same period of 2015. The company’s profit before tax (PBT) dropped 46% to £55.2 million for […]
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