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A first for the Co-operators from 2016

by

Charles Mathieu

August 2, 2019 09:30

Photo : Freepik

The combined ratio of the Co-operators during the second quarter of 2019 falls below the bar 100 % for the first time in two and a half years.

The insurer posted a combined ratio of 95.4 %. Aware of the same period of the previous year, it was from 107.8 %.

This result is explained by a growth in premiums and a decrease in the amount of claims. The very fact decrease in the claims ratio, ” says Co-operators in a press release.

Thus, it is the first time since the fourth quarter of 2016, the combined ratio is below 100 %. At this time, the ratio was 86.2 %.

Note that the average combined ratio from the first quarter of 2017 and 2019 is 104.6 %.

The net profit also increases

The net income of the Co-operators is also on the rise, because of $ 79.1 million. In 2018 during the second quarter, the company recorded a net loss of $ 4 million.

“An improvement in operating results combined with market returns, favourable has led to a significant increase in our net income compared to the second quarter of 2018, said Rob Wesseling, president and chief executive officer of Co-operators. We continue to focus our efforts to achieve a sustained growth in premiums and the customer, and manage all the costs related to claims proactively. “

During the six-month first months of 2019, the company generated a net profit of 100.9 million dollars, while during the first six months of 2018, the company recorded a deficit of $ 31.7 million.

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