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Canada Insurance Report Q2 2016

  • March 2016
  • -
  • Business Monitor International
  • -
  • 55 pages

Includes 3 FREE quarterly updates

BMI View: We continue to hold a positive and stable outlook for the Canadian insurance industry. TheCanadian insurance industry is large and well developed, and benefits from the presence of some of theleading global insurers, particularly robust in the life sector. The Canadian financial sector, supporting theinsurance industry is well capitalized and robust. The regulatory environment supporting the Canadianinsurance sector is strong and the industry also benefits from access to international capital markets whichserve to make this an attractive investment destination. Nevertheless, currency fluctuations will result inshort-term declines in premiums measured in US dollars. However, in local currency terms both the life andnon-life sector will see sustained growth in premiums throughout our current forecast period through to2020.

Key Updates And Forecasts

- We expect to see solid growth in both life and non-life premiums in 2016 and over the course of ourforecast period, out to 2020. In 2016, we expect total insurance industry premiums of CADCAD124.2bn,jumping to CAD140.8bn by end of 2020. In US dollar terms, premiums will see a decline in 2016 due tocurrency fluctuations. We expect total underwritten premiums to amount to USD92bn, posting a -2.7% yo-y decline.

- Life premiums will post a local currency growth of 3.2% in 2016, jumping to CAD77bn. Measured in USdollars, growth will be -3% at USD57bn.

- Non-life premiums will jump by 4% in local currency to reach CAD47.3bn in 2016, measured in USdollars, we are expecting a decline of -2.3% with premiums amounting to USD35.1bn.

Table Of Contents

Canada Insurance Report Q2 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Canada 2013-2020) 7
SWOT 8
Insurance 8
Industry Forecast 10
Life Premiums Forecast 10
Latest Updates 10
Structural Trends 10
Table: Life Premiums (Canada 2013-2020) 13
Table: Life Insurance Claims (Canada 2008-2015) 14
Non-Life Premiums Forecast 14
Latest Updates 14
Structural Trends 14
Table: Non-Life Premiums (Canada 2013-2020) 17
Table: Non-Life Insurance Claims (Canada 2009-2015) 19
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums by Product Line (Canada 2013-2020) 27
Industry Risk Reward Index 28
Developed States Insurance Risk/Reward Index 28
Table: Developed States Insurance Risk/Reward Index - Q216 29
Market Overview 30
Life Market Overview 30
The Product Offering 30
The Competitive Landscape 31
Non-Life Market Overview 33
The Product Offering 33
The Competitive Landscape 34
Company Profile 36
Great-West Lifeco Inc 36
Intact Financial Corporation 39
Manulife Financial 41
Sun Life Financial 43
Wawanesa Insurance 45
Desjardins 47
Methodology 49
Industry Forecast Methodology 49
Risk/Reward Index Methodology 52
Table: Indicators 54
Table: Weighting of Indicators 55

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