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Life Insurance in Canada

August 2020 | 45 pages | ID: L0308123882EN
MarketLine

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Life Insurance in Canada

SUMMARY

Life Insurance in Canada industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2015-19, and forecast to 2024). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

KEY HIGHLIGHTS
  • The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2018 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
  • The Canadian life insurance market had total gross written premiums of $54.0bn in 2018, representing a compound annual growth rate (CAGR) of 5.4% between 2014 and 2018.
  • High levels of household disposable income alongside with low consumer confidence and low interest rates than the previous years, boosted sales for life insurance products.
  • The Canadian life insurance market has witnessed overall healthy growth in recent years as the country's average wage increased by 7.2% between 2014 and 2018, and grew 1.2% when adjusted for inflation.
SCOPE
  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Canada
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Canada
  • Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the Canada life insurance market with five year forecasts
REASONS TO BUY
  • What was the size of the Canada life insurance market by value in 2019?
  • What will be the size of the Canada life insurance market in 2024?
  • What factors are affecting the strength of competition in the Canada life insurance market?
  • How has the market performed over the last five years?
  • Who are the top competitiors in Canada's life insurance market?
1 EXECUTIVE SUMMARY

1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape

2 MARKET OVERVIEW

2.1. Market definition
2.2. Market analysis

3 MARKET DATA

3.1. Market value

4 MARKET SEGMENTATION

4.1. Category segmentation
4.2. Geography segmentation

5 MARKET OUTLOOK

5.1. Market value forecast

6 FIVE FORCES ANALYSIS

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 COMPETITIVE LANDSCAPE

7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What is the rational for the recent M&A activity?

8 COMPANY PROFILES

8.1. Chubb Ltd
8.2. CIGNA HealthCare
8.3. MetLife Inc
8.4. Globe Life Inc

9 MACROECONOMIC INDICATORS

9.1. Country data

10 APPENDIX

10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine

LIST OF TABLES

Table 1: Canada life insurance market value: $ billion, 2014-18
Table 2: Canada life insurance market category segmentation: $ billion, 2018
Table 3: Canada life insurance market geography segmentation: $ billion, 2018
Table 4: Canada life insurance market value forecast: $ billion, 2018-23
Table 5: Canada life insurance market share: % share, by value, 2018
Table 6: Chubb Ltd: key facts
Table 7: Chubb Ltd: Annual Financial Ratios
Table 8: Chubb Ltd: Key Employees
Table 9: Chubb Ltd: Key Employees Continued
Table 10: Chubb Ltd: Key Employees Continued
Table 11: Chubb Ltd: Key Employees Continued
Table 12: CIGNA HealthCare: key facts
Table 13: CIGNA HealthCare: Key Employees
Table 14: MetLife Inc: key facts
Table 15: MetLife Inc: Annual Financial Ratios
Table 16: MetLife Inc: Key Employees
Table 17: MetLife Inc: Key Employees Continued
Table 18: Globe Life Inc: key facts
Table 19: Globe Life Inc: Annual Financial Ratios
Table 20: Globe Life Inc: Key Employees
Table 21: Globe Life Inc: Key Employees Continued
Table 22: Canada size of population (million), 2014-18
Table 23: Canada gdp (constant 2005 prices, $ billion), 2014-18
Table 24: Canada gdp (current prices, $ billion), 2014-18
Table 25: Canada inflation, 2014-18
Table 26: Canada consumer price index (absolute), 2014-18
Table 27: Canada exchange rate, 2015-19

LIST OF FIGURES

Figure 1: Canada life insurance market value: $ billion, 2014-18
Figure 2: Canada life insurance market category segmentation: % share, by value, 2018
Figure 3: Canada life insurance market geography segmentation: % share, by value, 2018
Figure 4: Canada life insurance market value forecast: $ billion, 2018-23
Figure 5: Forces driving competition in the life insurance market in Canada, 2018
Figure 6: Drivers of buyer power in the life insurance market in Canada, 2018
Figure 7: Drivers of supplier power in the life insurance market in Canada, 2018
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Canada, 2018
Figure 9: Factors influencing the threat of substitutes in the life insurance market in Canada, 2018
Figure 10: Drivers of degree of rivalry in the life insurance market in Canada, 2018
Figure 11: Canada life insurance market share: % share, by value, 2018


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