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Canada Insurance Report Q1 2013 - Product Image

Canada Insurance Report Q1 2013

  • Published: November 2012
  • Region: Canada
  • 76 pages
  • Business Monitor International


  • Company Profiles
  • Economical Insurance
  • Great-West Lifeco Inc
  • Manulife Financial
  • RBC Insurance
  • RSA
  • MORE

Key Insights And Key Risks

Although the details vary from quarter to quarter, newsflow from Canada’s insurance sector continues, in late-2012, to highlight its strength and dynamism. In both the non-life and the life segment, the main players have scale, access to capital (even if they are mutuals), financial strength, well recognised brands,
and clearly enunciated strategies for growth. In each case, business is developing as a result of at least one of the following factors: increased numbers of policies and policy-holders; firming prices; changes to distribution arrangements; product innovation; acquisition of rival businesses in Canada, and expansion in markets overseas in ways that exploit the competitive advantage of the company in question. As has been the case for a while, a major challenge comes from pervasive low interest rates and, for some companies,
the general volatility of equity markets.

The comments of the major life companies in relation to their operations through the first six months of the year highlight how demand for long-term savings products continues to grow. In part because of the general shift from defined benefit to defined contribution READ MORE >

Executive Summary 5
Table: Total Premiums, 2010-2017 5

Key Insights And Key Risks 5

SWOT Analysis 7

Canada Insurance Industry SWOT 7

Canada Political SWOT 8

Canada Economic SWOT 8

Life Sector Overview 9

Developed States Life Sector Overview 9
Table: Developed States Life Premiums 2010-2017 9

Canada Life Sector Update 10
Table: Breakdown Of Life Premiums, 2010 (CADmn) 11

Life Industry Forecast Scenario 13
Table: Total Life Premiums, 2010-2017 13

Growth Drivers And Risk Management Projections 14

Population 14
Table: Insurance Key Drivers, Demographics, 2010-2017 14

Non-Life Sector 16

Developed States Non-Life Sector Overview 16
Table: Developed States Non-Life Premiums, 2010-2017 (US$mn) 16

Canada Non-Life Sector Update 18
Table: Breakdown Of Non-Life Premiums, 2010 (CADmn) 18

Non-Life Industry Forecast Scenario 20
Table: Total Non-Life Premiums, 2010-2017 20

Growth Drivers And Risk Management Projections 21

Macroeconomic Outlook 21
Table: Canada – GDP By Expenditure, Real Growth %, 2008-2016 23
Table: Canada Macroeconomic Data And Forecasts 2010-2017 24

Political Stability Outlook 24
Table: Developed States Security Risk Ratings (scores out of 100, with 100 the best) 26

Healthcare 26
Table: Sustainability Of Public Health Expenditure And Pharmaceutical Approval Indicators 27

Epidemiology 28
Table: Canada Insurance Key Drivers – Disease Adjusted Life Years, 2010-2017 29

Motor 30

Insurance Risk/Reward Ratings 32
Table: Canada’s Insurance Risk/Reward Rating 32
Table: Developed States Insurance Risk/Reward Ratings 33

Competitive Landscape 34

Major Players In Canada’s Insurance Sector 35

Life Insurance Companies 35

Non-Life Insurance Companies 36

Company Profiles 40

Desjardins Financial Security/Desjardins General Insurance 40

Economical Insurance 42

Fairfax Financial Holdings 44

Great-West Lifeco Inc 48

Intact Financial Corporation 51

Manulife Financial 53

RBC Insurance 56

RSA 58

Standard Life 60

Sun Life Financial 63

Wawanesa Insurance 66

Demographic Outlook 68
Table: Canada's Population By Age Group, 1990-2020 ('000) 69
Table: Canada's Population By Age Group, 1990-2020 (% of total) 70
Table: Canada's Key Population Ratios, 1990-2020 71
Table: Canada's Rural And Urban Population, 1990-2020 71

BMI Methodology 72

Insurance Risk/Reward Ratings 73
Table: Insurance Risk/Reward Indicators And Rationale 74
Table: Weighting Of Indicators 75

Company Profiles
Desjardins Financial Security/Desjardins General Insurance
Economical Insurance
Fairfax Financial Holdings
Great-West Lifeco Inc
Intact Financial Corporation
Manulife Financial
RBC Insurance
Standard Life
Sun Life Financial
Wawanesa Insurance

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