Industry | 2009.09.05
A.M. Best Special Report: Canada’s Insurers Face Significant Challenges Following Difficult 2008
OLDWICK, N.J.--(BUSINESS WIRE)--Canada’s insurance markets were not able to fully escape the brunt of the global financial crisis in 2008. Capitalization declined for the property/casualty (P/C) industry partly due to weaker investment results and underwriting losses. Life insurers opted to preserve or rebuild capital to maintain their financial strength while “de-risking” their product portfolios. Storm losses and higher incurred claims drove the P/C industry to a net underwri
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