MSA Quarterly P&C Outlook Report

MSA, Canada's leading provider of insurance analytics, produces a quarterly analytical Outlook report covering the Canadian P&C industry.

Each issue contains insightful, thought-provoking research pieces covering various aspects of the industry. In addition to the articles, each issue also contains updated summary financial results for Canada's insurers and updated DBRS Rating Roundup all of which we're certain that you will find of great interest.

In This Issue:

  • Q1-2017: A Soggy Start
  • Communities, Governments and Industry… Under Water
  • President Trump’s Administration: The Impact on Financial Services and Regulation
  • Earthquake: Why it’s an economic disaster waiting to happen, and what we need to do about it
  • Quarterly CatIQ CatReview
  • DBRS Rating Roundup
  • First Quarter Company Results

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MSA's Glossary of Industry Terms, Abbreviations and Jargon.

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  • This report is subscribed to by approximately 1,400 industry professionals including most Canadian insurance/reinsurance executives, commercial brokers, retail brokers, adjusters, regulators, associations, auditors, analysts & TPA’s
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Back Issues:

To order back issues, please e-mail msaquarterly@msaresearch.com or call 416 368-0777 x25

Q4-2016   
  • 2016 – A Narrow Escape
  • DBRS Commentary: After Fort McMurray
  • Industry Realignment Continues Apace
  • External Adjusting – Throw the dog a bone so it will be there for the CATS
  • Quarterly CatIQ CatReview
  • DBRS Rating Roundup
  • Fourth Quarter and Year-end Company Results
Q3-2016   
  • Putting 2016 Behind Us
  • The 20% Fight Back
  • Block by Block: Blockchain’s Ambitious Potential to Reshape P&C Insurance
  • Building a Cyber Threat Response: How to Prepare Your Business for a Cyber Attack
  • Earthquakes in Eastern Canada - Really?
  • Quarterly CatIQ CatReview
  • S&P Rating Roundup
  • Third Quarter Company Results
Q2-2016   
  • Second Quarter Blues: In the Shadow of Fort Mac
  • The Fort Mac Body Blow
  • Will That Be the Insurance or the Non-insurance Rate?
  • New IFRS on Insurance Contracts: Time for Action
  • Quarterly CatIQ CatReview
  • S&P Rating Roundup
  • Second Quarter Company Results
Q1-2016   
  • Q1-2016 Nice While it Lasted
  • The Catastrophic Fort McMurray Wildfire
  • In the Line of Fire - Canadian Wildfire Risk
  • Quarterly CatIQ CatReview
  • S&P Rating Roundup
  • First Quarter Company Results
Q4-2015   
  • A Year-End Snapshot - A Good Result for Most
  • Aviva Goes to the Bank
  • Ontario Auto - E&O Potholes Ahead
  • Boom and Bust - Long Term ALAE Trends
  • Quarterly CatIQ CatReview
  • S&P Rating Roundup
  • Fourth Quarter and Year-End Company Results
Q3-2015   
  • 2015 Looking Good Despite Some Headwinds
  • P&C Insurance Industry vs. Banks and Lifecos - Poor Third Cousin No More
  • Canada's Mutual Admiration Societies
  • Quarterly CatIQ CatReview
  • S&P Rating Roundup
  • Third Quarter and Nine Month Company Results
 Q2-2015  
  • First Half of 2015 - Not Bad At All
  • Regulatory Update
  • M&A Frenzy
  • Q1-2015 P&C Regulator Report Changes: The Big Reveal!
  • Quarterly CatIQ CatReview
  • S&P Rating Roundup
  • Second Quarter Company Results
Q1-2015   
  • A Review of Q1-2015
  • ACE to Acquire Chubb: Creating a Global Giant
  • The New Wave: Flood Insurance for the Masses
  • Analysis of OSFI's New MCT
  • Q1-2015 P&C Regulator Report Changes: The Big Reveal!
  • Quarterly CatIQ CatReview
  • S&P Rating Roundup
  • First Quarter Company Results
Q4-2014     
  • Year-End 2014 - A Banner Year for Some... Less so for Others
  • Looking Back at the OMPP
  • Intact Pounces Again
  • Quarterly CatIQ CatReview
  • S&P Rating Roundup
  • Fourth Quarter and Year-End Company Results
Q3-2014     
  • Nine Months 2014 - With a View to Year-End
  • Regulatory Compliance Management ("RCM")
  • OSFI Wants to Know Who's Running the Show - In Advance!
  • Quarterly CatIQ CatWATCH
  • S&P Rating Roundup
  • Third Quarter Company Results
Q2-2014     
  • Six Months 2014 - Slim Pickings
  • Disjointed - A Look at Joint and Several Liability
  • Examining the Threats Posed by Climate Change
  • Quarterly CatIQ CatWATCH
  • S&P Rating Roundup
  • Second Quarter Company Results
Q1-2014

  • Q1-2014 Not a Good Start to the Year
  • The Changing Face of the Canadian P&C Insurance Industry
  • The Long and Winding Road to IFRS 4
  • S&P Rating Roundup
  • First Quarter Company Results
Q4-2013

  • Year End Review - Year of the cat and Winter of Discontent
  • A New Behemoth - Desjardins Swallows State Farm
  • The Battle of the North Atlantic
  • The Expanding Scope of Director and Officer Liability: Recent Developments and Insights
  • S&P Rating Roundup
  • Fourth Quarter & Year-End Company Results
Q3-2013

  • Nine Month Results - Losses Concentrate the Mind
  • Following the Misfortunes
  • Take Me To There - Living in the 'Other World'
  • Ontario Auto: Up the Hill Backwards - Will it be Alright?
  • S&P Rating Roundup
  • Third Quarter & Nine Month Company Results
Q2-2013

  • Six Month Results - A Soggy Start
  • Alberta - The first Shoe to Drop
  • ILS: Developments and Prospects for a Canadian Market
  • Tweaking Earthquake Regulations
  • PCS - Canada Catastrophe News
  • S&P Rating Roundup
  • Second Quarter & Six Month Company Results
Q1-2013

  • First Quarter Results - Some Deterioration
  • Alberta Floods - Canada's Sandy
  • Ontario Auto - It's Déjà Vu All Over Again
  • TRaV+E-Lers - An Unlikely Affair
  • PCS-Canada Catastrophe News
  • S&P Ratings Roundup
  • First Quarter Company Results
Q4-2012

  • 2012 Year In Review: Turning the Corner... to Where?
  • A Tale of Greed and Loading GST/HST Imposed on Reinsurance
  • Ontario Auto - A Big Political Hot Potato
  • S&P Rating Roundup
  • Fourth Quarter Company Results
Q3-2012

  • Nine Months 2012 – Making it to the Finish Line
  • When the Music Stops – Broker M&A Activity
  • Analysis of P&C Policy Acquisition Expenses
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • Third Quarter Company Results
  Q2-2012
  • Six Months 2012 – So far so good.
  • The Hitchhiker’s Guide to the Expanding Galaxy of Corporate Governance and Risk Management Expectations.
  • Will that be a Branch or a Sub, Ma’am?
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • Second Quarter Company Results
  Q1-2012
  • Q1-2012 – Off to a Decent Start… Now Keep it Up.
  • P&C Insurance Capital Rules – The Times They Are A-Changin’
  • Do UC what IC? RSA’s Acquisition of Union Canadienne
  • Intact’s Quebec Impact
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • First Quarter Company Results
  Q4-2011
  • Year-end 2011 – A better year… if you ignore the CATs
  • Alberta – A dangerous land for property writers
  • Ontario Auto – Far from calm
  • Investment Yields – Been down so long, but which way is up?
  • Working with MSA Researcher 2011 year-end P&C investment data
  • PCS-Canada catastrophe news
  • S&P Rating Roundup
  • Fourth Quarter and year-end 2011 Company Results
  Q3-2011
  • Q3-2011 – Traction still proving elusive
  • Ontario Auto – Under review with negative implications
  • Change for Change’s Sake? An analysis of revisions to the MCT/BAAT tests.
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • Third Quarter and Nine-Month 2011 Company Results
  Q2-2011
  • Q2 2011 - Neither Moribund nor Turnaround
  • Reinsurers - Taking it on the Chin
  • Key Principles for a Canadian ILS Regulatory Regime
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • Second Quarter and Six-Month 2011 Company Results
  Q1-2011
  • Q1-2011 - A Tale of Two Markets
  • Intact Takes a Commanding Position
  • Intact/AXA Side Shows
  • A Survey of Personal Lines in Atlantic Canada
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • First Quarter Company Results 
 Q4-2010  
  • 2010 - An Industry Odyssey
  • Ontario Auto - The Calm Before the Storm
  • Distracted Driving - Is the Big Picture Missing?
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • Fourth Quarter and Year-End Company Results
 Q3-2010  
  • Nine Months - Modest Improvement... For Some
  • The Battle for The Economical Insurance Group
  • Winners and Losers - Varying Strategies Yield Varying Results
  • Yes G-Can!  The Sale of GCAN to RSA
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • Third Quarter and Nine-Month Company Results
 Q2-2010  
  • Q2-2010 - Running to Stand Still
  • Insurance Linked Securities: The State of Canadian Insurance Law and Regulation
  • Cost-Saving Changes in Canada's Arbitration Clause
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • Second Quarter Company Results
 Q1-2010
  • Q1-2010 - Not out of the Woods
  • Part XIII - First Cut
  • Banks - Playing for Keeps
  • M&A in the Canadian P&C Industry - A Family History
  • Introducing the Baron Index
  • PCS-Canada Catastrophe News
  • S&P Rating Roundup
  • First Quarter Company Results
 Q4-2009
  • Analysis of Year-End 2009 and Outlook for 2010
  • Ontario Auto - The Seven Year Itch
  • Commercial Lines - Does Size Matter?
  • S&P Rating Roundup
  • Summarized fourth quarter and year-end company results
 Q3-2009
  • A review of nine-month 2009 results
  • Property Losses - A Mounting Problem
  • Significant M&A in 2010 - Is the Window Closing?
  • S&P Rating Roundup
  • Third quarter company results
 Q2-2009
  • A review of second quarter 2009 results
  • Bank Holdup - Flaherty's Move
  • Credit Where Credit is Due - Credit Scoring in Personal Lines
  • Extracts from S&P's 2009 Global Reinsurance Highlights
  • S&P Rating Roundup
  • Second quarter company results
 Q1-2009
  • A review of first quarter 2009 results
  • Looking for the hard market
  • Are the tanks empty? An analysis of industry reserves
  • Reinsurers - more risk, less reward
  • The case for personal lines credit scoring
  • S&P Rating Roundup
  • First quarter company results

Correction Notice: Please note that the 'PY Rolling ROE after OCI

column in the company results table should be disregarded due to a calculation error. Please contact us to obtain a corrected version of that table. We apologize for any inconvenience.

 Q4-2008
  • A detailed analysis of year-end results
  • A review of Kingsway Financial and Intact Financial Corp
  • An analysis of the Ontario auto insurance crisis
  • S&P Rating Roundup
  • Year-end and fourth quarter company results
 Q3-2008
  • An Analysis of Nine-Month results – Other Comprehensive….Losses
  • Capital Crunch, MCT Compression and Liquidity Squeeze
  • A Review of Property Results – Subprime Underwriting
  • S&P Rating Roundup
  • Nine-Month Company Results
  Q2-2008
  • An analysis of second quarter 2008 results.
  • AIG's Canadian Operations - Financial Condition and Outlook.
  • Kingsway's Sale of York Fire and Casualty to La Capitale.
  • Extracts from S&P's Global Reinsurance Highlights.
  • Standard and Poor’s Rating Roundup.
  • Summarized second quarter 2008 financial results.
 Q1-2008
  • An analysis of first quarter 2008 results.
  • A report on Alberta auto in the wake of the Wittmann ruling.
  • A review of the Canadian reinsurance sector.
  • A snapshot of the brokered market.
  • Standard and Poor’s Rating Roundup.
  • Summarized first quarter 2008 financial results.
 Q4-2007
  • A review of year-end 2007 results and outlook for 2008.
  • A detailed analysis of the Ontario auto situation.
  • Capital Questions for Insurance Boards.
  • Standard and Poor’s Rating Roundup.
  • Summarized year-end 2007 financial results.
 Q3-2007
  • A review of nine-month 2007 results.
  • Fair value accounting and insurance metrics.
  • Shifting sands - implications of changes in accounting standards.
  • R&SA's acquisition of CNS - an analysis.
  • Standard and Poor’s Rating Roundup.
  • Nine-Month Company Results - Comparative financial results through September 30, 2007   
 Q2-2007
  • A review of second quarter 2007 results.
  • An analysis of adjustment expenses over time.
  • Fair value accounting – take two. Teething problems.
  • Global reinsurance overview from Standard and Poor’s.
  • Standard and Poor’s Rating Roundup.
  • Six-Month Company Results - Comparative financial results through June 30, 2007 
 Q1-2007
  • A Shaky Start- Review of first quarter results
  • Fair Value Accounting – Out of the Gate. How insurers managed the new accounting standard.
  • Unanticipated Consequences of Regulation.
  • Inside/Outside – Upside/Downside. OSFI’s incoming regime for the regulation of foreign insurers. An analysis.
  • S&P Rating Roundup
  • Three-Month Company Results - Comparative financial results through March 31, 2007
 Q4-2006
  •  Year-End Review – Healthy Results – Questionable Sustainability.
  • Capital Quandary – More over-capitalized than ever. What to do?
  • 2006 Top Market Rankings – Top writers by line by province.
  • A Case for Minor Lines – A review of developments in minor industry lines.
  • Standard and Poor’s Rating Roundup.
  • Summarized year-end and fourth quarter 2006 financial results for the majority of Canadian insurers.
 Q3-2006
  • A Detailed Survey of Commercial Lines.
  • An Analysis of Profit Segmentation in Advance of Year-End.
  • S&P Ratings Roundup.
  • Nine-Month 2006 Company Results
 Q2-2006
  • An analysis of six-month results.
  • New Fair Value Accounting - Mountain or molehill?
  • Fair Value Accounting - An analyst's diliemma.
  • Give and Take - A study of net, gross and ceded loss ratios.
  • S&P Ratings Roundup. 
  • Six-Month 2006 Company Results.
 Q1-2006
  • Auto reforms. Are they working or not?
  • A summary of auto product reforms.
  • S&P commentary report. Stable outlook for global reinsurers.
  • S&P Ratings Roundup.
  • Three-Month 2006 Company Results.
 Q4-2005
  • The In-Between Time. 2005 in review and outlook for '06.
  • The M&A Logjam - Buyers galore. Sellers scarce.
  • 2005 Rankings - Top markets by line by region.
  • Direct Writers Gaining Ground.
  • S&P Ratings Roundup.
  • Twelve-Month 2005 Company Results.
Q3-2005
  • Bancassurance
  • Now Closer Than Ever. 
  • Reserving Trends. 
  • The Big Deal, Swiss Re's Acquisition of GE ERC.
  • Q3 Results - An Analysis.
  • Nine-Month 2005 Company Results.
Q2-2005
  • Invested Assets
  • Risk with Modest Reward.
  • Swimming in Capital...Again. 
  • Q2 Results 
  • Maintaining Discipline.
  • Six-Month 2005 Company Results.
Q1-2005
  • Auto Insurance 
  • True Reform or the Road to Government-run insurance?
  • Q1 Results 
  • Marred by Suncor Energy Loss. 
  • Tech Tips 
  • Understanding Loss Development Charts. 
  • Three-Month 2005 Company Results.
Q4-2004
  • Preparing for the Down Cycle
  • An analysis of 2004 results.
  • Commercial Lines 
  • Landing softly? 
  • 2004 Rankings 
  • Top markets by line in each region. 
  • Twelve-Month Company Results.
Q3-2004
  • Lowering Expenses a Recipe for Success?
  • In Search of Scale. 
  • A Survey of the Canadian Reinsurance Sector. 
  • Nine-Month Company Results.
Q2-2004
  • Market Outlook
  • Efficiencies Missing in Action 
  • Where Have All the Claims Gone? 
  • Six-Month Company Results 

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