reports
- Marcos Alvarez
- Victor Adesanya
Co-operators General Insurance Company: Rating Report
On November 5, 2021, DBRS Limited (DBRS Morningstar) changed the trends on CGIC to Positive from Stable. DBRS Morningstar confirmed the Financial Strength Rating and Issuer Rating of the Company at A (low). DBRS Morningstar also confirmed the Non-Cumulative Preference Shares rating of the Company at Pfd-2 (low).
- Marcos Alvarez
- Nadja Dreff
Intact Financial Corporation Q3 2021 Earnings Reflect Mixed Impact of ...
In Q3 2021, Intact Financial Corporation reported net income of $300 million, a decrease of 10% relative to Q3 2020, despite a 26% gain in operating income that benefitted from the RSA acquisition completed on June 1, 2021. Net income was lower as a result of higher non-operating costs, including those related to the RSA acquisition but also reflecting losses from a venture investment.
- Ross Abercromby
- Victor Adesanya
- Marcos Alvarez
- Nadja Dreff
Climate Change Can Threaten the Insurability of Some Property Risks in...
Canadian property and casualty (P&C) insurers have demonstrated financial resilience in handling ever-increasing weather-related losses through effective risk management. However, as climate risk increases and severe weather events become more correlated around the world, insurance and reinsurance companies may opt to withdraw property insurance coverage in regions they deem too costly to insure, or they may avoid insuring certain risks altogether. As a result, the availability of insurance (i.e...
- Marcos Alvarez
- Nadja Dreff
- Victor Adesanya
Intact Financial Corporation Posts Strong Q2 2021 Following RSA Acquis...
Intact Financial Corporation (Intact or the Company) reported excellent Q2 2021 net income of $573 million, an increase of 118% relative to Q2 2020 driven primarily by the RSA acquisition and an improved underwriting performance. Positively, even when excluding the impact of the acquisition, organic revenue growth was strong in both Canada and the U.S.
- Marcos Alvarez
- Victor Adesanya
Intact Financial Corporation: Excellent Underwriting Performance Resul...
Intact Financial Corporation (the Company) reported a Q1 2021 net income of $514 million, about a fourfold increase over Q1 2020 results. The improvement in earnings primarily reflected solid underwriting income across the Company’s insurance operations in Canada and the U.S. (especially personal property). This was supported by stable investment and distribution income.
- Marcos Alvarez
- Victor Adesanya
Intact Financial Corporation: Strong Q4 2020 Performance Driven by Res...
Intact Financial Corporation reported strong Q4 2020 net income of $378 million, a 58% increase compared with Q4 2019. The improvement in earnings primarily reflected very strong underwriting income from the Company’s insurance operations in the U.S. and Canada (especially personal lines), supported by stable investment and distribution income. Net income for the full year increased by 44% to $1.1 billion for 2020, compared with $754 million in 2019.
- Marcos Alvarez
- Victor Adesanya
Intact Financial Corporation and Affiliates: Rating Report
On November 19, 2020, DBRS Limited (DBRS Morningstar) confirmed all ratings of Intact Financial Corporation (Intact or the Company) and its operating insurance subsidiaries, including Intact’s Issuer Rating at “A” and the Financial Strength Rating of its main subsidiaries in Canada at AA (low), following the Company’s announcement that, together with Tryg A/S (Tryg), it has reached an agreement to acquire RSA Insurance Group Plc. (RSA).
7661599Z INTACT FINANCIAL CORP PFD.
IFC_pa INTACT FINANCIAL CORPORATION
IFC_pc JEVCO INSURANCE COMPANY
IIC NOVEX INSURANCE COMPANY
IIC/LV NORDIC INSURANCE COMPANY
3521548Z THE
5121338Z TRAFALGAR INSURANCE COMPANY OF CANADA
7355151Z BELAIR INSURANCE COMPANY INC.
17986Z INTACT INSURANCE COMPANY
- Marcos Alvarez
- Victor Adesanya
Co-operators General Insurance Company: Rating Report
On November 13, 2020, DBRS Limited (DBRS Morningstar) confirmed the Financial Strength Rating and Issuer Rating of Co-operators General Insurance Company at A (low). DBRS also confirmed the Non-Cumulative Preference Shares rating of the Company at Pfd-2 (low). All trends are Stable.
- Michael Driscoll
- Victor Adesanya
7661599Z INTACT FINANCIAL CORP PFD.
IFC_pa INTACT FINANCIAL CORPORATION
IFC_pc JEVCO INSURANCE COMPANY
IIC NOVEX INSURANCE COMPANY
IIC/LV NORDIC INSURANCE COMPANY
3521548Z THE
5121338Z TRAFALGAR INSURANCE COMPANY OF CANADA
7355151Z BELAIR INSURANCE COMPANY INC.
17986Z INTACT INSURANCE COMPANY
- Marcos Alvarez
- Victor Adesanya
- Marcos Alvarez
- Victor Adesanya
Reinsurers' H1 2020 Earnings Recover From Q1 Market Volatility, But Un...
The majority of property and casualty reinsurance providers have reported half year results for 2020, and it is apparent that many have recovered from the effects of the financial market's volatility that followed the lockdown of global economies in the first quarter of the year due to the Coronavirus Disease (COVID-19) pandemic.
CCS.PR.C CO-OPERATORS GENERAL INSURANCE CO. PFD. C
61926Z CO-OPERATORS GENERAL INSURANCE COMPANY
312791Z FAIRFAX FINANCIAL HOLDINGS LTD PFD.
FFH_pk. FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FRFZF FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FFH_pd FAIRFAX FINANCIAL PFD F
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH_ph FAIRFAX FINANCIAL HOLDINGS LTD
FAXRF FAIRFAX FIN PR J PFD.
FFH_pj FAIRFAX FIN PR M PFD.
FRFXF INTACT INSURANCE COMPANY
- Marcos Alvarez
- Victor Adesanya
IFC CO-OPERATORS FINANCIAL SERVICES LIMITED
312791 CO-OPERATORS GENERAL INSURANCE CO. PFD. C
CCS.PR.C CO-OPERATORS GENERAL INSURANCE COMPANY
61926Z FAIRFAX FINANCIAL HOLDINGS LTD PFD.
312791Z FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FFH_pk. FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FRFZF FAIRFAX FINANCIAL PFD F
FFH_pd FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS LTD
FFH_ph FAIRFAX FIN PR J PFD.
FAXRF FAIRFAX FIN PR M PFD.
FFH_pj INTACT FARM INSURANCE INC.
FRFXF INTACT FINANCIAL CORP PFD.
FFH_pm INTACT FINANCIAL CORPORATION
FFH/SV INTACT INSURANCE COMPANY
- Marcos Alvarez
- Victor Adesanya
Expected Busy Hurricane Season Likely to Add to U.S. P&C Insurers' Woe...
As if the ongoing disruptions caused by the negative impacts of the Coronavirus Disease (COVID-19) pandemic were not enough to keep property and casualty (P&C) insurers busy in 2020, on May 21, 2020,forecasters in the Climate Prediction Center of the National Oceanic and Atmospheric Administration (NOAA) predicted that the Atlantic hurricane season, which runs from June 1 through November 30 each year, will have above-normal hurricane activity in 2020. The forecast envisages a 60% chance of an a...
IFC CO-OPERATORS FINANCIAL SERVICES LIMITED
312791 CO-OPERATORS GENERAL INSURANCE CO. PFD. C
CCS.PR.C CO-OPERATORS GENERAL INSURANCE COMPANY
61926Z FAIRFAX FINANCIAL HOLDINGS LTD PFD.
312791Z FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FFH_pk. FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FRFZF FAIRFAX FINANCIAL PFD F
FFH_pd FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS LTD
FFH_ph FAIRFAX FIN PR J PFD.
FAXRF FAIRFAX FIN PR M PFD.
FFH_pj INTACT FARM INSURANCE INC.
FRFXF INTACT FINANCIAL CORP PFD.
FFH_pm INTACT FINANCIAL CORPORATION
FFH/SV INTACT INSURANCE COMPANY
- Elisabeth Rudman
- Marcos Alvarez
Severe Weather-Related Losses Compound Canadian P&C Insurance Companie...
On June 13 and 14, 2020, a series of extreme thunderstorms struck southern Alberta, Canada, resulting in hail and flooding that caused extensive damage. According to preliminary estimates by the Insurance Bureau of Canada, the thunderstorms caused approximately $1.2 billion in insured losses, with total economic losses exceeding $1.7 billion as thousands of vehicles, homes, and agricultural lands sustained significant damage. This natural catastrophe became Canada's most expensive thunderstorm-r...
IFC CO-OPERATORS FINANCIAL SERVICES LIMITED
312791 CO-OPERATORS GENERAL INSURANCE CO. PFD. C
CCS.PR.C CO-OPERATORS GENERAL INSURANCE COMPANY
61926Z FAIRFAX FINANCIAL HOLDINGS LTD PFD.
312791Z FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FFH_pk. FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FRFZF FAIRFAX FINANCIAL PFD F
FFH_pd FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS LTD
FFH_ph FAIRFAX FIN PR J PFD.
FAXRF FAIRFAX FIN PR M PFD.
FFH_pj FEDERATED INSURANCE COMPANY OF CANADA
FRFXF NORTHBRIDGE GENERAL INSURANCE CORPORATION
FFH_pm INTACT FARM INSURANCE INC.
FFH/SV INTACT FINANCIAL CORP PFD.
160570Z INTACT FINANCIAL CORPORATION
6877669Z JEVCO INSURANCE COMPANY
7663495Z NOVEX INSURANCE COMPANY
7661599Z NORDIC INSURANCE COMPANY
IFC_pa THE
IFC_pc TRAFALGAR INSURANCE COMPANY OF CANADA
IIC BELAIR INSURANCE COMPANY INC.
IIC/LV INTACT INSURANCE COMPANY
- Hema Singh
- Marcos Alvarez
Intact Financial Corporation: Q1 2020 Results Reflect Equity Impairmen...
Intact Financial Corporation's (Intact or the Company) net income of $107 million remains sound but was down from Q1 2019 driven by a nonoperating charge of $96 million of equity impairments, mainly related to the energy sector.
- Elisabeth Rudman
- Marcos Alvarez
Coronavirus: GDP Contraction Will Affect Canadian P&C Insurance Premiu...
Given the relative maturity of the P&C insurance market in Canada there is a direct relationship between economic activity and premium levels. Based on DBRS Morningstar's latest moderate macroeconomic scenario for Canada in 2020, we expect that the growth of P&C insurance premiums in Canada will be severely limited and could even turn negative. Alternatively, under an adverse scenario, we anticipate that the volume of P&C insurance premiums will drop in 2020. Both scenarios contrast with strong ...
IFC CO-OPERATORS FINANCIAL SERVICES LIMITED
312791 CO-OPERATORS GENERAL INSURANCE CO. PFD. C
CCS.PR.C CO-OPERATORS GENERAL INSURANCE COMPANY
61926Z FAIRFAX FINANCIAL HOLDINGS LTD PFD.
312791Z FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FFH_pk. FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FRFZF FAIRFAX FINANCIAL PFD F
FFH_pd FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS LTD
FFH_ph FAIRFAX FIN PR J PFD.
FAXRF FAIRFAX FIN PR M PFD.
FFH_pj NORTHBRIDGE GENERAL INSURANCE CORPORATION
FRFXF INTACT FARM INSURANCE INC.
FFH_pm INTACT FINANCIAL CORP PFD.
FFH/SV INTACT FINANCIAL CORPORATION
160570Z JEVCO INSURANCE COMPANY
7663495Z NOVEX INSURANCE COMPANY
7661599Z NORDIC INSURANCE COMPANY
IFC_pa THE
IFC_pc TRAFALGAR INSURANCE COMPANY OF CANADA
IIC BELAIR INSURANCE COMPANY INC.
IIC/LV INTACT INSURANCE COMPANY
- Marcos Alvarez
- Victor Adesanya
P&C Insurance: Regulatory Oversight Essential for Broad Adoption of ES...
DBRS Limited (DBRS Morningstar) released a commentary entitled “P&C Insurance: Regulatory Oversight Essential for Broad Adoption of ESG Reporting Principles,†which discusses the importance of environmental, social, and governance (ESG) risk factors in assessing the financial strength of a property and casualty insurance company, as well as the need for standardization to facilitate comparability across geographic regions and between companies operating in similar sectors.
IFC CO-OPERATORS FINANCIAL SERVICES LIMITED
312791 CO-OPERATORS GENERAL INSURANCE CO. PFD. C
CCS.PR.C CO-OPERATORS GENERAL INSURANCE COMPANY
61926Z FAIRFAX FINANCIAL HOLDINGS LTD PFD.
312791Z FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FFH_pk. FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FRFZF FAIRFAX FINANCIAL PFD F
FFH_pd FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS LTD
FFH_ph FAIRFAX FIN PR J PFD.
FAXRF FAIRFAX FIN PR M PFD.
FFH_pj INTACT FARM INSURANCE INC.
FRFXF INTACT FINANCIAL CORP PFD.
FFH_pm INTACT FINANCIAL CORPORATION
FFH/SV INTACT INSURANCE COMPANY
- Elisabeth Rudman
- Marcos Alvarez
P&C Insurance: The Conundrum of Business Interruption Coverage during ...
DBRS Limited (DBRS Morningstar) released a commentary entitled “P&C Insurance: The Conundrum of Business Interruption Coverage during the Coronavirus Pandemic†that discusses the impact of retroactively forcing property and casualty (P&C) insurance companies to assume business interruption losses in contracts that originally excluded pandemics as a covered peril.
IFC CO-OPERATORS FINANCIAL SERVICES LIMITED
312791 CO-OPERATORS GENERAL INSURANCE CO. PFD. C
CCS.PR.C CO-OPERATORS GENERAL INSURANCE COMPANY
61926Z FAIRFAX FINANCIAL HOLDINGS LTD PFD.
312791Z FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FFH_pk. FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FRFZF FAIRFAX FINANCIAL PFD F
FFH_pd FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS LTD
FFH_ph FAIRFAX FIN PR J PFD.
FAXRF FAIRFAX FIN PR M PFD.
FFH_pj NORTHBRIDGE GENERAL INSURANCE CORPORATION
FRFXF INTACT FINANCIAL CORP PFD.
FFH_pm INTACT FINANCIAL CORPORATION
FFH/SV INTACT INSURANCE COMPANY
- Elisabeth Rudman
- Marcos Alvarez
IFC CO-OPERATORS FINANCIAL SERVICES LIMITED
312791 CO-OPERATORS GENERAL INSURANCE CO. PFD. C
CCS.PR.C CO-OPERATORS GENERAL INSURANCE COMPANY
61926Z FAIRFAX FINANCIAL HOLDINGS LTD PFD.
312791Z FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES C
FFH_pk. FAIRFAX FINANCIAL HOLDINGS PR D PFD.
FRFZF FAIRFAX FINANCIAL PFD F
FFH_pd FAIRFAX FINANCIAL HOLDINGS LTD. PFD. SERIES E
FFH.PR.F FAIRFAX FINANCIAL HOLDINGS PR H PFD.
FFH.PR.E FAIRFAX FINANCIAL HOLDINGS LTD
FFH_ph FAIRFAX FIN PR J PFD.
FAXRF FAIRFAX FIN PR M PFD.
FFH_pj NORTHBRIDGE GENERAL INSURANCE CORPORATION
FRFXF INTACT FINANCIAL CORP PFD.
FFH_pm INTACT FINANCIAL CORPORATION
FFH/SV INTACT INSURANCE COMPANY
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