The 2016 Annual Superintendent of Insurance Report does not include all factors regarding profitability.
The fact is that the 2016 Annual Superintendent of Insurance Report cited by others includes premiums and direct claims costs. It does not include expenses such as commissions, taxes, salaries, adjusting expenses and other costs incurred to sell auto insurance or handle related claims in Newfoundland and Labrador.
Those expenses should be included in any discussion about business results or profitability. When those expenses are included, our expenses exceed premiums.
Vice-president of business development, Atlantic
Aviva Canada Inc.