Canada Insurance Report Q3 2016 - New Report Available
New Financial Services research report from Business Monitor International is now available from Fast Market Research
[ClickPress, Tue Jul 19 2016] 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 fluct uations 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% y-o-y decline.
Full Report Details at
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.
The Canada Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Canada Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Canadian insurance industry.
Benchmark BMI's independent insurance industry forecasts for Canada to test other views - a key input for successful budgeting and strategic business planning in Canada's insurance market.
Target business opportunities and risks in Canada through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
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