Investor Presentation: Outperforming in the Next Decade
Page 17 | Investor Presentation
Q2-19 Commercial Lines
Performance
Commercial lines commentary:
Strong DPW growth of 11% with contributions from all segments,
led by rate increases deployed in hard market conditions. Growth
in specialty lines was in the mid-teens.
Combined ratio of 92.8% was solid, despite elevated large losses.
The underlying fundamentals of this business remain strong,
supported by hard market conditions and a high-quality portfolio.
[intact]
(in C$ millions, except as
otherwise noted)
Q2-2019
Q2-2018
Change
DPW
844
757
11%
Commercial P&C
566
517
9%
Commercial auto
278
240
16%
NEP
679
613
11%
Underwriting income
49
43
14%
(loss)
Claims ratio
58.6%
57.1%
1.5 pts
Expense ratio
34.2%
35.8%
(1.6) pts
Combined ratio
92.8%
92.9%
(0.1) pts
P&C United States' commentary:
Premiums of $425 million reflected strong growth of 10% on a constant
currency basis. Strong new business, rate increases and high retention
levels drove double-digit growth in lines not undergoing profitability
improvement plans.
Combined ratio was solid at 94.8% and reflected a strong performance
in lines not undergoing profitability improvement plans.
We continued to show good progress towards our goal of achieving a
sustainable combined ratio in the low-90s by the end of 2020.
1 P&C U.S. excludes the results of exited lines
(in C$ millions, except as
otherwise noted)
Q2-2019
Q2-2018
Change
DPW
425
374
14%
NEP
343
340
1%
Underwriting income
18
21
(3)
Claims ratio
56.2%
57.0%
(0.8) pts
Expense ratio
38.6%
36.8%
1.8 pts
Combined ratio
94.8%
93.8%
1.0 ptsView entire presentation