Industry Analysis & Industry Trends
The industry experienced slow, steady growth over the past five years. Increased competition from insurance carriers that hire their own sales forces or use online platforms has threatened industry participants during this time, prompting brokers and agents to focus on expanding their level of expertise, as well as their product line to include risk management and insurance consulting services. However, economic improvements for households and businesses over the next five years are expected to push demand and industry revenue up... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Insurance Brokers and Agencies industry operates with a low level of market share concentration. The top four companies are estimated to account for 4.1% of total industry revenue in 2015. According to the latest available data from Statistics Canada, 57.0% of the industry's employer establishments rely on four or fewer individuals, with only 0.5% of these establishments employing 100 or more individuals. Consequently, the industry is highly fragmented, with a large number of enterprises relying on small workforces.
Yet, the industry's market share concentration has continued to increase, a trend that is anticipated to continue over the five years to 2020. Consolidation in the industry is most easily seen through the transactions of the largest players... purchase to read more