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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 | Mar 2017

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

IBISWorld’s Life Insurance & Annuities market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Industry Statistics & Market Size
Revenue
$96bn
Annual Growth 12-17
1.6%
Annual Growth 17-22
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Profit
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Employment
45,115
Businesses
66
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 2017. Historically low interest rates have subdued the industry's investment gains in recent years. Since 2013, bond yields have sharply increased which bolsters the fair values of the industry's existing fixed-income securities, this trend has been a key driver for strong growth throughout the year. Despite a small dip in concentration levels in recent years, the industry is anticipated to remain dominated by the “big three" companies over the five years to 2022... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Life Insurance and Annuities industry operates with a moderate to high level of market share concentration. In 2017, the top three companies are estimated to account for 42.2% of the market, up from 38.7% in 2012. Regardless of this dip in concentration in recent years, the industry continues to be dominated by three large players, commonly referred to as the “big three.” Great-West Lifeco, Manulife Financial and Sun Life Financial are each expected to represent about 10.0% of the domestic life insurance and annuities market in 2017.

In recent years, these companies have been particularly damaged by accounting changes, historically low bond yields and demographic changes. Yet.. 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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