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Personal Accident and Health Insurance in Canada, Key Trends and Opportunities to 2020

  • ID: 4022599
  • Report
  • December 2016
  • Region: Canada
  • 118 pages
  • Timetric
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FEATURED COMPANIES

  • Sun Life Financial Inc.
  • Transamerica Life Canada
  • MORE
The 'Personal Accident and Health Insurance in Canada Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Canadian personal accident and health insurance segment, and a comparison of the Canadian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Canadian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together The research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary:

The 'Personal Accident and Health Insurance in Canada Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Canadian personal accident and health insurance segment, including:

- An overview of the Canadian personal accident and health insurance segment

- The Canadian personal accident and health insurance segment’s growth prospects by category

- A comprehensive overview of the Canadian economy and demographics

- A comparison of the Canadian personal accident and health insurance segment with its regional counterparts

- The various distribution channels in the Canadian personal accident and health insurance segment

- Details of the competitive landscape in the personal accident and health insurance segment in Canada

- Details of regulatory policy applicable to the Canadian insurance industry

Scope:

This report provides a comprehensive analysis of the personal accident and health insurance segment in Canada:

- It provides historical values for the Canadian personal accident and health insurance segment for the report’s 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

- It offers a detailed analysis of the key categories in the Canadian personal accident and health insurance segment, and market forecasts to 2020.

- It provides a comparison of the Canadian personal accident and health insurance segment with its regional counterparts

- It provides an overview of the various distribution channels for personal accident and health insurance products in Canada.

- It profiles the top personal accident and health insurance companies in Canada, and outlines the key regulations affecting them.

Reasons To Buy:

- Make strategic business decisions using in-depth historic and forecast market data related to the Canadian personal accident and health insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Canadian personal accident and health insurance segment.

- Assess the competitive dynamics in the personal accident and health insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Canadian insurance industry, and their impact on companies and the industry's future.

Key Highlights:

- Canada witnessed a steady increase in healthcare spending during the review period.

- The leading cost drivers in health spending are drugs, hospitals and physicians, which accounted for 60.7% of the total health expenditures in 2015.

- Rising outbound tourism is expected to drive demand for travel insurance.

- Life expectancy in Canada rose from 81.4 years in 2011 to 81.8 years in 2015, and is projected to increase further over the forecast period.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Sun Life Financial Inc.
  • Transamerica Life Canada
  • MORE
1 KEY FACTS AND HIGHLIGHTS
2 EXECUTIVE SUMMARY
3 ECONOMY AND DEMOGRAPHICS
4 SEGMENT OUTLOOK
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 DISTRIBUTION CHANNEL OUTLOOK
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Manulife Financial Corporation - company overview
6.1.2 The Great-West Life Assurance Company - company overview
6.1.3 Sun Life Financial Inc - company overview
6.1.4 The Standard Life Assurance Company of Canada - company overview
6.1.5 RBC Life Insurance Company - company overview
6.1.6 Co-operators Life Insurance Company - company overview
6.1.7 BMO Life Insurance Company - company overview
6.1.8 The Empire Life Insurance Company - company overview
6.1.9 Transamerica Life Canada - company overview
6.1.10 The Equitable Life Insurance Company of Canada - company overview
7 GOVERNANCE, RISK AND COMPLIANCE
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulation
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Motor third-party liability insurance
7.4.2 Marine liability insurance
7.4.3 Workmen's compensation
7.4.4 Aviation liability insurance
7.4.5 Liability insurance for ships with respect to oil pollution
7.4.6 Professional indemnity insurance for insurance brokers
7.4.7 Liability insurance for medical malpractice
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors
7.5.2 Office of the Superintendent of Financial Institutions Canada
7.5.3 Canadian Council of Insurance Regulators
7.5.4 Canadian Life and Health Insurance Association Inc
7.5.5 Insurance Bureau of Canada
7.6 Non-Admitted Insurance Regulations
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and penalties
7.7 Company Registration and Operations
7.7.1 Type of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margins
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)
8 DATABOOK
8.1 Policies and Premium
8.1.1 Claims and expenses
8.1.2 Assets and investments
9 DEFINITIONS AND METHODOLOGY
9.1 Definitions
9.2 Methodology
10 ABOUT
10.1 Contact
10.2 About
10.3 Services
10.4 Disclaimer

List of Tables
Table 1: Canadian Personal Accident and Health Insurance - Key Facts, 2015
Table 2: Canadian Leading Companies in Canadian Personal Accident and Health Insurance Segment, 2014
Table 3: Canadian Government Credit Ratings
Table 4: Canadian Personal Accident and Health Insurance - Gross Written Premium (CAD Billion and US$ Billion), 2011-2015
Table 5: Canadian Personal Accident and Health Insurance - Penetration (%), 2011-2015
Table 6: Canadian Personal Accident and Health Insurance - Gross Written Premium (CAD Billion and US$ Billion), 2015-2020
Table 7: Canadian Personal Accident and Health Insurance - Penetration (%), 2015-2020
Table 8: Canadian Personal Accident and Health Insurance - Premium per Capita (CAD and US$), 2011-2015
Table 9: Canadian Personal Accident and Health Insurance - Premium per Capita (CAD and US$), 2015-2020
Table 10: Canadian Personal Accident and Health Insurance - Paid Claims (CAD Billion and US$ Billion), 2011-2015
Table 11: Canadian Personal Accident and Health Insurance - Paid Claims (CAD Billion and US$ Billion), 2015-2020
Table 12: Canadian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015
Table 13: Canadian Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020
Table 14: Canadian Personal Accident and Health Insurance - Total Assets (CAD Billion and US$ Billion), 2011-2015
Table 15: Canadian Personal Accident and Health Insurance - Total Assets (CAD Billion and US$ Billion), 2015-2020
Table 16: Canadian Personal Accident and Health Insurance - Total Investment Income (CAD Billion and US$ Billion), 2011-2015
Table 17: Canadian Personal Accident and Health Insurance - Total Investment Income (CAD Billion and US$ Billion), 2015-2020
Table 18: Canadian Personal Accident and Health Insurance - Investment Portfolio (CAD Billion), 2011-2015
Table 19: Canadian Personal Accident and Health Insurance - Investment Portfolio (CAD Billion), 2015-2020
Table 20: Canadian Leading Companies in Canadian Personal Accident and Health Insurance Segment, 2014
Table 21: Manulife Financial Corporation - Key Facts
Table 22: Manulife Financial Corporation - Key Financials (CAD Million), 2010-2014
Table 23: The Great-West Life Assurance Company - Key Facts
Table 24: The Great-West Life Assurance Company - Key Financials (CAD Million), 2010-2014
Table 25: Sun Life Financial Inc. - Key Facts
Table 26: Sun Life Financial Inc. - Key Financials (CAD Million), 2010-2014
Table 27: The Standard Life Assurance Company of Canada - Key Facts
Table 28: The Standard Life Assurance Company of Canada - Key Financials (CAD Million), 2010-2014
Table 29: RBC Life Insurance Company - Key Facts
Table 30: RBC Life Insurance Company - Key Financials (CAD Million), 2010-2014
Table 31: Co-operators Life Insurance Company - Key Facts
Table 32: Co-operators Life Insurance Company - Key Financials (CAD Million), 2010-2014
Table 33: BMO Life Insurance Company - Key Facts
Table 34: BMO Life Insurance Company - Key Financials (CAD Million), 2010-2014
Table 35: The Empire Life Insurance Company - Key Facts
Table 36: BMO Life Insurance Company - Key Financials (CAD Million), 2010-2014
Table 37: Transamerica Life Canada - Key Facts
Table 38: Transamerica Life Canada - Key Financials (CAD Million), 2010-2014
Table 39: The Equitable Life Insurance Company of Canada - Key Facts
Table 40: The Equitable Life Insurance Company of Canada - Key Financials (CAD Million), 2010-2014
Table 41: Canada - Insurance Regulatory Framework Key Features
Table 42: Canada - Life Insurance Regulatory Framework
Table 43: Canada - Property Insurance Regulatory Framework
Table 44: Canada - Motor Insurance Regulatory Framework
Table 45: Canada - Liability Insurance Regulatory Framework
Table 46: Canada - Legislations Governing Automobile Insurance in Each Province and Territory
Table 47: Canada - Workmen's Compensation
Table 48: Canada - Minimum Cover for Aircraft Public Liability Per Accident Per Aircraft
Table 49: Canada - - Minimum Cover for Aircraft Public Liability Per Accident Per Aircraft
Table 50: Canada - Non-Admitted Insurance Regulatory Framework
Table 51: Canada - Capital Requirement for Insurers in Each Province and Territory
Table 52: Canada - Solvency Margin Requirements for Federally Regulated Insurance Companies
Table 53: Canada - Insurance Premium Taxation
Table 54: Canada - Corporate Tax Rates for the Financial Year 2016
Table 55: Canadian Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015
Table 56: Canadian Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020
Table 57: Canadian Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 58: Canadian Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 59: Canadian Personal Accident and Health Insurance - Assets and Investments, 2011-2015
Table 60: Canadian Personal Accident and Health Insurance - Assets and Investments, 2015-2020
Table 61: Insurance Industry Definitions

List of Figures
Figure 1: Canadian Real GDP (CAD Trillion), 2011-2020
Figure 2: Canadian Consumer Price Inflation (%), 2011-2020
Figure 3: Canadian Current Account Balance as Percentage of GDP (%), 2011-2015
Figure 4: CAD-US$ Exchange Rate, 2011-2020
Figure 5: Canadian Unemployment Rate, 2011-2020
Figure 6: Canadian Population by Age Group, 1991-2025
Figure 7: Canadian Personal Accident and Health Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Canadian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Canadian Personal Accident and Health Insurance - Gross Written Premium (CAD Billion), 2011-2020
Figure 10: Canadian Personal Accident and Health Insurance - Penetration (%), 2011-2020
Figure 11: Canadian Personal Accident and Health Insurance - Premium per Capita (CAD), 2011-2020
Figure 12: Canadian Personal Accident and Health Insurance - Paid Claims (CAD Billion), 2011-2020
Figure 13: Canadian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2020
Figure 14: Canadian Personal Accident and Health Insurance - Total Assets (CAD Billion), 2011-2020
Figure 15: Canadian Personal Accident and Health Insurance - Total Investment Income (CAD Billion), 2011-2020
Figure 16: Canadian Personal Accident and Health Insurance - Investment Portfolio (CAD Billion), 2011-2020
Figure 17: Canadian Personal Accident and Health Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 18: Canada - Insurance Supervision and Control at Various Levels
Figure 19: Canada - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 20: Canada - Solvency Framework in Different Provinces and Territories
Figure 21: Canada - Judiciary System
Note: Product cover images may vary from those shown
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  • Manulife Financial Corporation
  • The Great-West Life Assurance Company
  • Sun Life Financial Inc.
  • The Standard Life Assurance Company of Canada
  • RBC Life Insurance Company
  • Co-operators Life Insurance Company
  • BMO Life Insurance Company
  • The Empire Life Insurance Company
  • Transamerica Life Canada
  • The Equitable Life Insurance Company of Canada
Note: Product cover images may vary from those shown
4 of 4
Note: Product cover images may vary from those shown
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