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Market Report, "Canada Insurance Report Q3 2011", published

New Financial Services market report from Business Monitor International: "Canada Insurance Report Q3 2011"

 
PRLog - Jun. 27, 2011 - Key Insights And Key Risks

Over the last two years, a recurrent theme in BMI's reports on Canada's insurance sector has been its strength in global terms. This strength remains evident. The sector is of sufficient size that many players can achieve economies of scale, even if they focus on particular geographic areas or product niches. The sector is completely open to foreign competition, with the result that it has access to capital and world class products. By most metrics, the sector has remained resilient in the face of the brutal volatility in the financial markets and the recession in the US, following the global financial crisis in late 2008. Despite a complex regulatory structure that involves institutions at the federal and the provincial levels, the standard of oversight has been extremely good.

The latest results that have been published by the major listed life insurance companies, such as Great- West Lifeco, Manulife and Sun Life Financial, highlight these strengths. All three rank as large multinationals, with substantial operations in the US and other parts of the world. All three have grown their Canadian businesses through the development of new products. Taking a longer view, the Canadian life segment is remarkable for the steady growth in life density. This appears to be the result of the leading companies responding to the needs of their customers in the face of steady competition from the insurance arms of Canada's major banks and large foreign players.

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Full Report Details at
- http://www.fastmr.com/prod/204717_canada_insurance_report...
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If the life segment can be considered as a part of the broader market for organised savings that still demonstrably has scope for growth, the non-life segment should be seen as a marketplace with limited potential for organic expansion. Including accident and sickness insurance in the non-life segment, which we do for the sake of consistency with BMI's reports on the insurance sectors of other countries, non-life penetration has remained remarkably constant at about 3.5% of GDP for years. This suggests that there is a substantial element of non-discretionary use of non-life insurance in Canada. However, it also indicates that non-life penetration is unlikely to rise. Unlike the life segment, the non-life segment is fragmented. Leading local non-life players such as Intact, The Economical and Cooperators have improved their profitability but mainly through initiatives to boost efficiency and to improve loss ratios. In the next few months, the development of the auto insurance market in Ontario is something of a wildcard. The reforms introduced by the provincial government in September 2010 should limit the expansion of costs and claims, which had destroyed profitability in a highly regulated insurance market. However, it is too early to say for sure that the effects of the reforms will be substantial and lasting.

Report Table of Contents:

Executive Summary
- Table: Total Premiums, 2007-2015
- Key Insights And Key Risks
SWOT Analysis
- Canada Insurance Industry SWOT
- Canada Political SWOT
- Canada Economic SWOT
Life
- Developed States Life Sector Overview
- Table: Developed States Life Premiums, 2008-2015 (US$mn)
- Canada Life Sector Update
- Table: Breakdown Of Life Premiums, 2010 (CADmn)
- Life Industry Forecast Scenario
- Table: Total Life Premiums, 2007-2015
- Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Sector Key Drivers - Demographics, 2007-2015 ('000, unless otherwise stated)
Non-Life
- Developed States Non-Life Sector Overview
- Table: Developed States Non-Life Premiums, 2008-2015 (US$mn)
- Canada Non-Life Sector Update
- Table: Breakdown Of Non-Life Premiums, 2010 (CADmn)
- Non-Life Industry Forecast Scenario
- Table: Total Non-Life Premiums, 2007-2015
- Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Canada Economic Activity, 2007-2015
- Political Stability Outlook
- Table: Developed States Security Risk Ratings
- Healthcare
- Epidemiology
- Table: Insurance Sector Key Drivers - Disability-Adjusted Life Years, 2008-2015
- Motor
- Table: Insurance Sector Key Drivers - Autos, 2007-2015
Insurance Risk/Reward Ratings
- Table: Canada's Insurance Risk/Reward Ratings
- Table: Developed States Insurance Risk/Reward Ratings
Competitive Landscape
- Competitive Landscape Analysis
- Major Players In Canada's Insurance Sector
- Life Insurance Companies
- Non-Life Insurance Companies
Company Profiles
- Local Company Profiles
- Canada Life
- CIBC Life
Desjardins
- Economical
- Intact Financial Corporation
- Lombard
- London Life
- RBC Life
- Scotia Life
- Wawanesa
- Regional Company Profiles
- Aviva
- AXA Canada
- Chartis
- Chubb
- Manulife
- Royal & Sun Alliance
- Standard Life Canada
- State Farm
- Sun Life
BMI Methodology
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Indicators And Rationale
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

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Source:Fast Market Research
Phone:1.800.844.8156
Zip:01267
State/Province:Massachusetts - United States
Industry:Finance, Research, Banking
Tags:insurance, non-life, Canadian, reform, Healthcare, premiums, regulator, operate, insurers, investment
Shortcut:prlog.org/11559298
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