Canada Insurance Report Q2 2016

Date: March 9, 2016
Pages: 55
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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BMI View: We continue to hold a positive and stable outlook for the Canadian insurance industry. The Canadian insurance industry is large and well developed, and benefits from the presence of some of the leading global insurers, particularly robust in the life sector. The Canadian financial sector, supporting the insurance industry is well capitalized and robust. The regulatory environment supporting the Canadian insurance sector is strong and the industry also benefits from access to international capital markets which serve to make this an attractive investment destination. Nevertheless, currency fluctuations will result in short-term declines in premiums measured in US dollars. However, in local currency terms both the life and non-life sector will see sustained growth in premiums throughout our current forecast period through to 2020.

Key Updates And Forecasts
  • We expect to see solid growth in both life and non-life premiums in 2016 and over the course of our forecast 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 to currency 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 US dollars, growth will be -3% at USD57bn.
  • Non-life premiums will jump by 4% in local currency to reach CAD47.3bn in 2016, measured in US dollars, we are expecting a decline of -2.3% with premiums amounting to USD35.1bn.
BMI Industry View
  Table: Headline Insurance Forecasts (Canada 2013-2020)
Industry Forecast
Life Premiums Forecast
Latest Updates
Structural Trends
  Table: Life Premiums (Canada 2013-2020)
  Table: Life Insurance Claims (Canada 2008-2015)
Non-Life Premiums Forecast
Latest Updates
Structural Trends
  Table: Non-Life Premiums (Canada 2013-2020)
  Table: Non-Life Insurance Claims (Canada 2009-2015)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (Canada 2013-2020)
Industry Risk Reward Index
Developed States Insurance Risk/Reward Index
  Table: Developed States Insurance Risk/Reward Index - Q216
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Company Profile
Great-West Lifeco Inc
Intact Financial Corporation
Manulife Financial
Sun Life Financial
Wawanesa Insurance
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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