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Originally Posted by macker
Not the P&C insurers in Canada.....Take for example the largest P&C insurer in Canada's latest earnings.....they lost 36.3 million.... http://www.newswire.ca/en/releases/a.../13/c2325.html
The perception is that they are making billions but the reality is that they are losing millions.... |
Well, true, but they aren't losing the money because of insurance settlements.
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The decline in net income was driven by an $82.9 million pre-tax non-recurring investment loss resulting from the implementation of a hedging program aimed at reducing market risk and maintaining the company's financial strength and flexibility.
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I'm not sure a rate increase to me should be covering their stock market losses.
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