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Property & Casualty Insurance

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Intact Financial says sees Q1 catastrophe losses of about $88 mln on pre-tax basis

Wednesday, 5 Apr 2017 05:01pm EDT

Intact Financial Corp : Intact Financial Corp - estimated catastrophe losses, net of reinsurance, for Q1 of 2017 of approximately $88 million on a pre-tax basis . Intact Financial - this year's winter conditions led to an increase in claims in all lines of business .Intact Financial - severe wind events in central and atlantic canada drove most of catastrophe losses in Q1.

UK insurer Saga's FY underlying pretax profit rises

Wednesday, 29 Mar 2017 02:00am EDT

Saga Plc : FY preliminary results for full year ended 31 january 2017 . FY underlying profit before tax £187.4 mln versus £177.4 mln year ago . Proposed full year dividend 8.5p versus 7.2p year ago . FY underlying profit before tax, excluding derivative gains and Ogden discount rate impact increased by 5.6% . FY strong performance in competitive environment with significant improvement in motor . FY broking profit per customer grew 5.7% to £46 (FY 2016: £43.5) . Confidence in continuing to deliver a consistent financial performance in 2017 is strong . Overall, we have seen a very positive start to year on motor premiums, with strong upwards movement on new business . Currently running in excess of claims inflation, and sets us on a strong footing to improve motor broking profits during year . Another tough year for home market, particularly given benign weather conditions over winter period . Travel insurance demand is stable . Overall, we remain positive on trading for our retail broking business for coming year .General economic confidence amongst our customers remains strong post Brexit vote.

Progressive Direct Insurance Company to sell Australian operations to Hollard Insurance Company

Tuesday, 21 Mar 2017 05:00pm EDT

Progressive Corp - : Progressive Direct Insurance Company enters into agreement to sell Australian operations to Hollard Insurance Company . Agreements also provide for PD Insurance Agency Pty Ltd, a new company created and partly owned by Hollard . Parties expect transfer will be effective in Q4 of 2017 .Says Hollard will acquire progressive's portfolio of insurance policies in Australia.


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