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Life Insurance & Annuities in Canada: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Life Insurance & Annuities in Canada Market Research Report | NAICS 52411aCA | Jun 2016

Long lifeline: Rising interest rates and a growing distance from the recession will aid the industry

IBISWorld’s Life Insurance & Annuities market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Industry Statistics & Market Size
Revenue
$96bn
Annual Growth 11-16
3.4%
Annual Growth 16-21
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Profit
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Employment
47,750
Businesses
61
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

Ontario

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.

Quebec

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

 


Industry ProductsRelated ReportsTable of Contents

What is the Life Insurance & Annuities Industry?

This industry accepts liability under annuities and life, disability income and accidental death and dismemberment insurance policies. Enterprises include fraternal organizations, privately held insurers, publicly traded insurers and mutual insurance companies.

Industry Products
Group annuitiesIndividual annuitiesGroup life insurance premiumsIndividual life insurance premiumsInvestment income and other products
 
Industry Activities
Underwriting group life policiesUnderwriting individual life policiesUnderwriting group annuitiesUnderwriting individual annuitiesInvesting insurance premiums


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