Canada Insurance Report Q4 2016

Publisher Name :
Date: 28-Sep-2016
No. of pages: 63

BMI View: Canada's insurance market is highly developed, with users availing themselves of a wide range

of products and insurance solutions. Though mature and relatively consolidated, we forecast robust growth

in premiums across both the life and non-life market segments in local currency terms through the forecast

period to 2020. Our outlook reflects a relatively robust macroeconomic backdrop and a favourable

environment for businesses and consumers, supported by low interest rates and steady growth in GDP. That

said, the potential for a prolonged downturn in global energy and commodities markets presents an element

of downside risk to our forecasts. While the maturity of Canada's insurance sector has created high barriers

to entry, we expect existing multinationals to continue to look for ways to strengthen their footprint through

mergers and acquisitions over the coming quarters. This is particularly likely in the non-life segment, which

is more fragmented than the life market.

Key Updates And Forecasts

? In August 2016, a report from the C.D. Howe Institute highlighted the potential risk to Canadian insurers

posed by a major earthquake in the country, the claims resulting from which would exceed the financial

capacity of the sector. The report stated that Canada's property and casualty insurers were capable of

handling claims of up to CAD30bn, after which one or more national insurers would fail. The report

follows reports of significant damage incurred by the Fort McMurray wildfires in May 2016, which were

estimated to have caused about USD6.9bn worth of damage. The catastrophe is expected to lead to a

spike in claims and payouts for local insurers.

Canada Insurance Report Q4 2016

Table of Contents

BMI Industry View 7
Table: Headline Insurance Forecasts (Canada 2013-2020) 7
Industry Forecast 11
Life Premiums Forecast 11
Click here to enter text 11
Table: Life Premiums (Canada 2013-2020) 14
Table: Life Insurance Claims (Canada 2008-2015) 15
Non-Life Premiums Forecast 16
Click here to enter text 16
Table: Non-Life Premiums (Canada 2013-2020) 19
Table: Non-Life Insurance Claims (Canada 2009-2015) 21
Non-Life Sub-Sector Forecast 22
Table: Non-Life Insurance Premiums By Product Line (Canada 2013-2020) 30
Industry Risk Reward Index 32
Developed States Insurance Risk/Reward Index 32
Table: Developed States Insurance Risk/Reward Index - Q416 33
Market Overview 34
Life Market Overview 34
Product Offering 34
Competitive Landscape 34
Table: Company Performance -- Life Insurance Market (USDmn) 2011-2015 37
Non-Life Market Overview 39
Product Offering 39
Competitive Landscape 39
Table: Company Performance - Non-Life Insurance Market (USDmn) 2011-2015 42
Company Profile 44
Desjardins 44
Great-West Lifeco Inc 46
Intact Financial Corporation 49
Manulife Financial 51
Sun Life Financial 53
Wawanesa Insurance 55
Methodology 57
Industry Forecast Methodology 57
Risk/Reward Index Methodology 60
Table: Indicators 62
Table: Weighting of Indicators 63

List of Tables

Table: Headline Insurance Forecasts (Canada 2013-2020)
Table: Life Premiums (Canada 2013-2020)
Table: Life Insurance Claims (Canada 2008-2015)
Table: Non-Life Premiums (Canada 2013-2020)
Table: Non-Life Insurance Claims (Canada 2009-2015)
Table: Non-Life Insurance Premiums By Product Line (Canada 2013-2020)
Table: Developed States Insurance Risk/Reward Index - Q416
Table: Company Performance -- Life Insurance Market (USDmn) 2011-2015
Table: Company Performance - Non-Life Insurance Market (USDmn) 2011-2015
Table: Indicators
Table: Weighting of Indicators
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