Industry Analysis & Industry Trends
Consistent increases in premiums derived from the Life Insurance and Annuities industry's traditional products and strong returns from equity markets have aided industry performance over the five years to 2016. Part of this increase in demand for industry products is related to the continued aging of the domestic population, with older individuals more intently focused on retirement and estate planning. Additionally, over the five years to 2021, industry revenue is forecast to rise. Despite a small dip in concentration levels in recent years, the industry is anticipated to remain dominated by Great-West Lifeco, Manulife and Sun Life, commonly referred to as the “big... purchase to read more
Industry Report - Industry Locations Chapter
The distribution of industry establishments closely follows domestic population trends. For example, Ontario is anticipated to account for 35.5% of industry establishments and 38.5% of the Canadian population in 2016. To take advantage of this large population base, some of the industry’s largest players focus on the province for revenue. For example, Manulife Financial and Sun Life Financial are each headquartered in Toronto.
Similar to Ontario, Quebec maintains a significant share of the industry’s establishments due to its substantial population size. In 2016, Quebec is expected to represent 24.1% of industry establishments and 23.0% of the domestic population... purchase to read more