Non-Life Insurance in Canada, Key Trends and Opportunities to 2019

Transcription

1 Brochure More information from Non-Life Insurance in Canada, Key Trends and Opportunities to 2019 Description: The 'Non-Life Insurance in Canada, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Canadian non-life insurance segment, and a comparison of the Canadian insurance industry with its regional counterparts. It provides values for 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 ( ) and forecast period ( ). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Canadian economy and demographics, explains the various types of natural hazard and their impact on the Canadian insurance industry, and provides detailed information on the competitive landscape in the country. The report brings together 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 ' Non-Life Insurance in Canada, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Canada non-life insurance segment, including: - Canadian non-life insurance segment s detailed outlook by category - A comprehensive overview of the Canadian economy and demographics - A comparison of the Canadian insurance industry with its regional counterparts - Detailed analysis of natural hazards and their impact on the Candian insurance industry - Details of various distribution channels in the Canadian non-life insurance segment - Details of the competitive landscape in the non-life insurance segment in Canada - Details of regulatory policy applicable to the Canadian insurance industry Scope: This report provides a comprehensive analysis of the non-life insurance segment in Canada: - It provides historical values for the Canadian non-life insurance segment for the report s review period, and projected figures for the forecast period. - It offers a detailed analysis of the key categories in the Canadian non-life insurance segment, and market forecasts to It analyzes the various distribution channels for non-life insurance products in Canada. - It profiles the top non-life 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 non-life insurance segment, and each category within it. - Understand the demand-side dynamics, key market trends and growth opportunities in the Canadian non-

2 life insurance segment. - Assess the competitive dynamics in the non-life 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: - The Canadian non-life segment accounted for 36.5% of the industry s gross written premium in Canada is prone to natural disasters due to its geographical location. - Property insurance was the largest category in terms of gross written premium, and accounted for 43.7% of the segment s gross written premium in Motor insurance laws applicable to insurers operating in Canada are different in each province or territory. - The motor category accounted for 42.8% of the gross written premium that year, while liability accounted for 11.9% and marine, aviation and transit accounted for the remaining 1.6%. Contents: 1 Key Facts and Highlights 2 Executive Summary 3 Economy and Demographics 4 Segment Outlook 4.1 Regional Comparison 4.2 Segment Indicators Gross written premium and penetration Policies sold Claims Profitability Assets and investments 5 Outlook by Category 5.1 Property Insurance Product overview Premium Policies Claims Profitability 5.2 Motor Insurance Product overview Premium Policies Claims Profitability 5.3 Liability Insurance Product overview Premium Policies Claims Profitability 5.4 Marine, Aviation and Transit Insurance Product overview Premium Policies Claims Profitability 6 Distribution Channel Outlook 6.1 Analysis by Distribution Channel Insurance brokers

3 6.1.2 Agencies Direct marketing Bancassurance 7 Natural Hazards 7.1 Flood 7.2 Storm 7.3 Earthquake 7.4 Tornado 7.5 Exposure 8 Competitive Landscape 8.1 Company Rankings 8.2 Comparison of the Top Five Insurers Gross written premium 8.3 Company Profiles Intact Insurance Company - company overview Aviva Insurance Company of Canada - company overview Security National Insurance Company - company overview Lloyd's Underwriters - company overview The Wawanesa Mutual Insurance Company - company overview 9 Governance, Risk and Compliance 9.1 Legislation Overview and Historical Evolution 9.2 Latest Changes in Regulations 9.3 Legislation and Market Practice by Type of Insurance Life insurance Property insurance Motor insurance Liability insurance Marine, aviation and transit insurance Personal accident and health insurance 9.4 Compulsory Insurance Motor third-party liability insurance Marine liability insurance Workmen's compensation Aviation liability insurance 9.5 Supervision and Control International Association of Insurance Supervisors Office of the Superintendent of Financial Institutions Canada Canadian Council of Insurance Regulators Canadian Life and Health Insurance Association Inc Insurance Bureau of Canada 9.6 Non-Admitted Insurance Regulations Overview Intermediaries Market practices Fines and penalties 9.7 Company Registration and Operations Types of insurance organization Establishing a local company Foreign ownership Types of license Capital requirements Solvency margins Reserve requirements Investment regulations Statutory return requirements Fee structure 9.8 Taxation Insurance premium or policy taxation Withholding taxes on premium paid overseas Corporate tax VAT Captives 9.9 Legal System

4 9.9.1 Introduction Access to court Alternative dispute resolution 10 Databook 10.1 Policies and Premium 11 Definitions and Methodology 11.1 Definitions 11.2 Methodology 12 About 12.1 Contact 12.2 About 12.3 Services 12.4 Disclaimer List of Tables Table 1: Canadian Non-Life Insurance - Key Facts, 2014 Table 2: Canadian Non-Life Insurance - Segment Shares of the Top Insurers, 2014 Table 3: Canadian Government Credit Ratings Table 4: Canadian Non-Life Insurance - Gross Written Premium (CAD Billion and US$ Billion), Table 5: Canadian Non-Life Insurance - Penetration (%), Table 6: Canadian Non-Life Insurance - Gross Written Premium (CAD Billion and US$ Billion), Table 7: Canadian Non-Life Insurance - Penetration (%), Table 8: Canadian Non-Life Insurance -Premium per Capita (CAD and US$), Table 9: Canadian Non-Life Insurance -Premium per Capita (CAD and US$), Table 10: Canadian Non-Life Insurance - Number of Policies Sold (Thousand), Table 11: Canadian Non-Life Insurance - Number of Policies Sold (Thousand), Table 12: Canadian Non-Life Insurance - Paid Claims (CAD Billion and US$ Billion), Table 13: Canadian Non-Life Insurance - Paid Claims (CAD Billion and US$ Billion), Table 14: Canadian Non-Life Insurance - Profitability Ratio (%), Table 15: Canadian Non-Life Insurance - Profitability Ratio (%), Table 16: Canadian Non-Life Insurance - Total Assets (CAD Billion and US$ Billion), Table 17: Canadian Non-Life Insurance - Total Assets (CAD Billion and US$ Billion), Table 18: Canadian Non-Life Insurance - Total Investment Income (CAD Billion and US$ Billion), Table 19: Canadian Non-Life Insurance - Total Investment Income (CAD Billion and US$ Billion), Table 20: Canadian Non-Life Insurance - Investment Portfolio (CAD Billion), Table 21: Canadian Non-Life Insurance - Investment Portfolio (CAD Billion), Table 22: Canadian Non-Life Insurance - Gross Written Premium by Category (CAD Million), Table 23: Canadian Non-Life Insurance - Gross Written Premium by Category (CAD Million), Table 24: Canadian Property Insurance - Gross Written Premium by Sub-Category (CAD Million), Table 25: Canadian Property Insurance - Gross Written Premium by Sub-Category (CAD Million), Table 26: Canadian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), Table 27: Canadian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), Table 28: Canadian Property Insurance - Paid Claims (CAD Billion and US$ Billion), Table 29: Canadian Property Insurance - Paid Claims (CAD Billion and US$ Billion), Table 30: Canadian Property Insurance - Loss Ratio (%), Table 31: Canadian Property Insurance - Loss Ratio (%), Table 32: Canadian Motor Insurance - Gross Written Premium by Sub-Category (CAD Million), Table 33: Canadian Motor Insurance - Gross Written Premium by Sub-Category (CAD Million), Table 34: Canadian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), Table 35: Canadian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), Table 36: Canadian Motor Insurance - Paid Claims (CAD Billion and US$ Billion), Table 37: Canadian Motor Insurance - Paid Claims (CAD Billion and US$ Billion), Table 38: Canadian Motor Insurance - Loss Ratio (%), Table 39: Canadian Motor Insurance - Loss Ratio (%), Table 40: Canadian Liability Insurance - Gross Written Premium (CAD Million), Table 41: Canadian Liability Insurance - Gross Written Premium (CAD Million), Table 42: Canadian Liability Insurance - Number of Policies Sold (Thousand), Table 43: Canadian Liability Insurance - Number of Policies Sold (Thousand), Table 44: Canadian Liability Insurance - Paid Claims (CAD Billion and US$ Billion), Table 45: Canadian Liability Insurance - Paid Claims (CAD Billion and US$ Billion), Table 46: Canadian Liability Insurance - Loss Ratio (%), Table 47: Canadian Liability Insurance - Loss Ratio (%), Table 48: Canadian Marine, Aviation and Transit Insurance - Gross Written Premium (CAD Million),

5 Table 49: Canadian Marine, Aviation and Transit Insurance - Gross Written Premium (CAD Million), Table 50: Canadian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), Table 51: Canadian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), Table 52: Canadian Marine, Aviation and Transit Insurance - Paid Claims (CAD Thousand and US$ Thousand), Table 53: Canadian Marine, Aviation and Transit Insurance - Paid Claims (CAD Thousand and US$ Thousand), Table 54: Canadian Marine, Aviation and Transit Insurance - Loss Ratio (%), Table 55: Canadian Marine, Aviation and Transit Insurance - Loss Ratio (%), Table 56: Canadian Non-Life Insurance - Direct Written Premium by Distribution Channel (CAD Billion), Table 57: Canadian Non-Life Insurance - Direct Written Premium by Distribution Channel (CAD Billion), Table 58: Canadian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), Table 59: Canadian Average Annual Loss by Hazard (US$ Million), Table 60: Shares of Top Non-Life Insurers in Canada (%), 2014 Table 61: Intact Insurance Company - Key Facts Table 62: Intact Insurance Company - Key Financials (CAD Million), Table 63: Aviva Insurance Company of Canada - Key Facts Table 64: Aviva Insurance Company of Canada - Key Financials (CAD Million), Table 65: Security National Insurance Company - Key Facts Table 66: Security National Insurance Company - Key Financials (CAD Million), Table 67: Lloyd s Underwriters - Key Facts Table 68: Lloyd s Underwriters - Key Financials (CAD Million), Table 69: Wawanesa Mutual Insurance Company - Key Facts Table 70: Wawanesa Mutual Insurance Company - Key Financials (CAD Million), Table 71: Canada - Insurance Regulatory Framework Key Features Table 72: Canada - Life Insurance Regulatory Framework Table 73: Canada - Property Insurance Regulatory Framework Table 74: Canada - Motor Insurance Regulatory Framework Table 75: Canada - Liability Insurance Regulatory Framework Table 76: Canada - Legislations Governing Automobile Insurance in Each Province and Territory Table 77: Canada - Workmen's Compensation Table 78: Canada - Minimum Cover for Aircraft Public Liability Per Accident Per Aircraft Table 79: Canada - Minimum Cover for Single-Limit Aircraft Liability Per Accident Per Aircraft Table 80: Canada - Non-Admitted Insurance Regulatory Framework Table 81: Canada - Capital Requirement for Insurers in Each Province and Territory Table 82: Canada - Solvency Margin Requirements for Federally Regulated Insurance Companies Table 83: Canada - Insurance Premium Taxation Table 84: Canada - Corporate Tax Rates for the Financial Year 2015 Table 85: Canadian Insurance Industry - Policies and Premium, Table 86: Canadian Insurance Industry - Policies and Premium, Table 87: Canadian Non-Life Insurance - Policies and Premium, Table 88: Canadian Non-Life Insurance - Policies and Premium, Table 89: Canadian Non-Life Insurance - Property Insurance Policies and Premium, Table 90: Canadian Non-Life Insurance - Property Insurance Policies and Premium, Table 91: Canadian Non-Life Insurance - Motor Insurance Policies and Premium, Table 92: Canadian Non-Life Insurance - Motor Insurance Policies and Premium, Table 93: Canadian Non-Life Insurance - Liability Insurance Policies and Premium, Table 94: Canadian Non-Life Insurance - Liability Insurance Policies and Premium, Table 95: Canadian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, Table 96: Canadian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, Table 97: Canadian Non-Life Insurance - Gross Written Premium by Sub-Category (CAD Million), Table 98: Canadian Non-Life Insurance - Gross Written Premium by Sub-Category (CAD Million), Table 99: Canadian Non-Life Insurance - Direct Written Premium by Sub-Category (CAD Million), Table 100: Canadian Non-Life Insurance - Direct Written Premium by Sub-Category (CAD Million), Table 101: Canadian Non-Life Insurance - Penetration by Sub-Category (%), Table 102: Canadian Non-Life Insurance - Penetration by Sub-Category (%), Table 103: Canadian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), Table 104: Canadian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), Table 105: Insurance Industry Definitions

6 List of Figures Figure 1: Canadian Real GDP (CAD Billion), Figure 2: CAD - US$ Exchange Rate, Figure 3: Canadian Consumer Price Inflation, Figure 4: Canadian Current Account Balance as Percentage of GDP (%), Figure 5: Canadian Unemployment Rate, Figure 6: Canadian Population by Age Group, Figure 7: Canadian Non-Life Insurance Penetration - Regional Comparison (%), 2014 Figure 8: Canadian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014 Figure 9: Canadian Non-Life Insurance - Gross Written Premium (CAD Billion), Figure 10: Canadian Non-Life Insurance - Penetration (%), Figure 11: Canadian Non-Life Insurance - Premium per Capita (CAD), Figure 12: Canadian Non-Life Insurance - Number of Policies Sold (Thousand), Figure 13: Canadian Non-Life Insurance - Paid Claims (CAD Billion), Figure 14: Canadian Non-Life Insurance - Profitability Ratio (%), Figure 15: Canadian Non-Life Insurance - Total Assets (CAD Billion), Figure 16: Canadian Non-Life Insurance - Total Investment Income (CAD Billion), Figure 17: Canadian Non-Life Insurance - Investment Portfolio (CAD Billion), Figure 18: Canadian Non-Life Insurance - Investment Portfolio Dynamics by Category, Figure 19: Canadian Non-Life Insurance - Gross Written Premium by Category (CAD Million), Figure 20: Canadian Non-Life Insurance - Gross Written Premium Dynamics by Category, Figure 21: Canadian Property Insurance - Construction Value Output by Project Type (CAD Million), Figure 22: Canadian Property Insurance - Gross Written Premium by Sub-Category (CAD Million), Figure 23: Canadian Property Insurance - Gross Written Premium Dynamics by Sub-Category, Figure 24: Canadian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), Figure 25: Canadian Property Insurance - Paid Claims (CAD Billion), Figure 26: Canadian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (CAD Billion and %), Figure 27: Canadian Total New Vehicle Sales by Category (%), 2014 Figure 28: Canadian Motor Insurance - Gross Written Premium by Sub-Category (CAD Million), Figure 29: Canadian Motor Insurance - Gross Written Premium Dynamics by Sub-Category, Figure 30: Canadian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), Figure 31: Canadian Motor Insurance - Paid Claims (CAD Billion), Figure 32: Canadian Motor Insurance- Earned Premium, Incurred Loss and Loss Ratio (CAD Billion and %), Figure 33: Canadian Liability Insurance - Gross Written Premium (CAD Million), Figure 34: Canadian Liability Insurance - Number of Policies Sold (Thousand), Figure 35: Canadian Liability Insurance - Paid Claims (CAD Billion), Figure 36: Canadian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (CAD Billion and %), Figure 37: Canadian Marine, Aviation and Transit Insurance - Gross Written Premium (CAD Million), Figure 38: Canadian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), Figure 39: Canadian Marine, Aviation and Transit Insurance - Paid Claims (CAD Thousand), Figure 40: Canadian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (CAD Million and %), Figure 41: Canadian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010, 2014 and 2019 Figure 42: Canadian - Frequency and Combined Economic Losses of Natural Disasters by Type, Figure 43: Shares of Top Non-Life Insurers in Canada (%), 2014 Figure 44: Canadian Non-Life Insurance - Gross Written Premium Growth of Top Insurers Relative to Segment Overall (%), Figure 45: Canada - Insurance Supervision and Control at Various Levels Figure 46: Canada - Insurance Regulatory Frameworks for Company Registration and Operation Figure 47: Canada - Solvency Framework in Different Provinces and Territories Figure 48: Canada - Judiciary System Ordering: Order Online -

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