Discover the booming Canadian insurance market! This in-depth analysis reveals key trends, growth drivers (like Insurtech and rising risk awareness), challenges, and leading players (Intact, Aviva, Desjardins, etc.) from 2019-2033. Learn about market size projections, CAGR, and segment breakdowns for property, auto, and other insurance types. Recent developments include: July 2021: Aon and Willis, the world's second and third-biggest commercial property and casualty brokerage, terminated their USD 30 billion combination agreement. The proposed agreement was initially announced in March of 2020., June 2021: Accelerant Holdings entered the Canadian market with a share purchase agreement that includes the parent company of Toronto-based Omega General Insurance Company. Accelerant will acquire from Till Omega Insurance Holdings, Inc. (OIH) and its two Toronto-based wholly-owned subsidiaries. Those subsidiaries include property and casualty insurance carrier Omega General Insurance Company and Focus Group Inc., a consulting and projecting management business that services local and international P&C insurance clients. Omega General offers customized insurance solutions within the Canadian marketplace, including fronting and run-off services for insurers/reinsurers.. Notable trends are: Increase in Adoption of Artificial Intelligence in Property and Casualty Insurance.

In 2023, Canada Travel Insurance Market reached a value of USD 542.9 million, and it is projected to surge to USD 1101.2 million by 2030

Graph and download economic data for Non-Life Insurance Premium Volume to GDP for Canada (DDDI10CAA156NWDB) from 1990 to 2020 about premium, life, Canada, insurance, and GDP.

In 2022, the net premiums written by property and casualty insurance in Canada amounted to approximately ** billion Canadian dollars. Despite the coronavirus (COVID-19) pandemic, in 2020, premiums rose by nearly *** billion Canadian dollars compared to the previous year, and over **** times higher than the **** billion Canadian dollars recorded for 1990.

This table contains 11 series, with data for years 1968 - 2009 (not all combinations necessarily have data for all years), and was last released on 2010-08-30. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Type of benefit and policy (11 items: Total; payments; Death and accidental death claims; Total; under life insurance; Disability benefits; income payments ...).

Graph and download economic data for Life Insurance Premium Volume to GDP for Canada (DDDI09CAA156NWDB) from 1992 to 2019 about premium, life, insurance, Canada, and GDP.

Dataset indicates the total number of contracts by fiscal year, total coverage provided for all plans under the Crop and Animal Insurance Act, total premiums, as well as all claims paid within each fiscal year and the loss ratio which is the total claims paid/premiums collected. Total premiums include the producer, provincial, and federal cost shares.

The Canada Cyber Liability Insurance Market Report Segments the Industry Into by Insurance Type (Standalone and Packaged), by Organization Size (Small Enterprises, Mid-Sized Enterprises, and More), by Distribution Channel (Brokers / Agents, Direct Sales, and More), by End-Use Industry (Financial Services, Healthcare, and More), and More Segments. The Market Forecasts are Provided in Terms of Value (USD).

This statistic shows the share of Millennials believing in safety of online insurance information in Canada in 2018. In that year, ** percent of Canadian Millennials believed that online insurance information was as safe as paper-based insurance information, whereas only ** percent of Canadians in general thought the same.

Number of employment insurance claims received by province and territory, last 5 months.

This table contains 37 series, with data for years 1973 - 1990 (not all combinations necessarily have data for all years), and is no longer being released. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada); Revenues and expenses (37 items: Net income;Net income before extraordinary transactions;Net income before taxes;Underwriting gain; ...).

Canada: Non-life insurance premium volume, percent of GDP: The latest value from 2020 is 3.32 percent, an increase from 2.76 percent in 2019. In comparison, the world average is 1.37 percent, based on data from 96 countries. Historically, the average for Canada from 1990 to 2020 is 2.48 percent. The minimum value, 2.1 percent, was reached in 2000 while the maximum of 3.32 percent was recorded in 2020.

The changes in the distribution of life insurance products in Canada occurred mostly in individual and group term insurance between 2006 and 2022, while individual whole life and universal life insurance remained relatively stable. In 2022, individual term life insurance accounted for ** percent of all life insurance coverage in Canada, an increase from ** percent in 2006. In contrast, the share of group term life insurance declined from ** percent in 2006 to ** percent in 2022.

This table contains 6 series, with data for years 1982 - 1997 (not all combinations necessarily have data for all years), and was last released on 2007-01-25. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Type of sales (6 items: Annualised premium sales; total; Premiums per $1000 insurance; total; Number of policies sold; total; Face amount sales; total ...).

United States Exports: Services: Canada: Insurance: Reinsurance data was reported at 958.000 USD mn in 2017. This records a decrease from the previous number of 1.210 USD bn for 2016. United States Exports: Services: Canada: Insurance: Reinsurance data is updated yearly, averaging 669.000 USD mn from Dec 1999 (Median) to 2017, with 19 observations. The data reached an all-time high of 1.210 USD bn in 2016 and a record low of 332.000 USD mn in 2002. United States Exports: Services: Canada: Insurance: Reinsurance data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.JA022: Trade Statistics: Services: Canada.

Canada Property and Casualty Insurance Market is Segmented by Line of Business (Auto, Personal, Commercial, and More), Distribution Channel (Brokers, Direct-To-Consumer, and More), End-User (Individuals & Households, Small & Medium-Sized Enterprises, and More), and Region. The Market Forecasts are Provided in Value (USD).

Approximately *** million Canadian dollars separated the largest and second-largest Canadian insurers in 2023 based on insurance revenue. In that year, Fairfax Financial was the largest insurance company in terms of revenue from insurance services and generated **** billion Canadian dollars in net insurance revenue. Desjardins Group followed behind with **** billion Canadian dollars in net insurance revenue. However, yet another competitor of Fairfax Financial was the biggest Canadian insurer by total assets in the same year.

United States Imports: Services: Canada: Insurance: Direct data was reported at 136.000 USD mn in 2016. This records an increase from the previous number of 128.000 USD mn for 2015. United States Imports: Services: Canada: Insurance: Direct data is updated yearly, averaging 319.000 USD mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 528.000 USD mn in 2009 and a record low of 12.000 USD mn in 1999. United States Imports: Services: Canada: Insurance: Direct data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.JA022: Trade Statistics: Services: Canada.

The Canadian insurance market is projected to be valued at CAD 70 billion in 2024, driven by factors such as increasing consumer awareness and the rising prevalence of industry-specific trends. The market is expected to grow at a CAGR of 3.5%, reaching approximately CAD 100 billion by 2034.

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