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Canadian Property And Casualty Insurers' Credit Fundamentals Are Stable Despite Challenges, Report Says Dec 11
Standard & Poors, Dec 2011
Abstract
TORONTO (Standard & Poor's) Dec. 12, 2011--As 2011 winds down, Canadian property and casualty (P&C) insurers can list some notable lows and highs during the year, including unusually large catastrophe losses from wildfires in Slave Lake, Alta., and improved performance in the Ontario auto segment, thanks to provincial reforms. Canadian P&C insurers expected Ontario auto reforms and higher pricing in personal lines to lift industry underwriting results going into 2011, but high catastrophe activity, relative softness in commercial lines pricing, and low interest rates offset the results, Standard & Poor's notes in a report released today. As of third-quarter 2011, the industry net performance seems to be tracking pretty much at the same level as that of the prior year...
Action: General Comment
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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