Risk

Confiscation, expropriation and nationalization “still core” to political risk coverage: RIMS report

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

Risk

Fort McMurray wildfire adds 9.2 points to Northbridge Insurance’s Q2 combined ratio

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

Risk

Combined ratio for AIG up 3.3% in Q2 2016 to 102.1%

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 […]

By Canadian Underwriter | August 3, 2016

3 min read

Risk

Risk solutions revenue up 1% at Aon

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

3 min read

P&C combined ratio improves one point to 97.4% for CNA Financial, net income at US$209 million for Q2 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 […]

4 min read

Arthur J. Gallagher reports brokerage segment revenues up US$53.5 million in Q2

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 […]

2 min read

Revenue for Marsh’s U.S./Canada division up US$44 million to US$804 million in Q2 2016

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, […]

3 min read

Loss ratio up 3 points for Arch Capital

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 […]

4 min read

Q2 combined ratio up 5.3 points at Axis Capital

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. […]

3 min read

Jardine Lloyd Thompson Group’s £36.2 million profit for 2016 H1 half of prior-year period: interim results

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 […]

3 min read