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Life Insurance & Annuities in Canada - Industry Market Research Report

Publisher IBISWorld
Published Sep 23, 2024
Length 76 Pages
SKU # IBSS19342913

Description

Life Insurance & Annuities in Canada - Industry Market Research Report


Life Insurance & Annuities in Canada

Insurers in Canada have experienced steady growth amid the COVID-19 pandemic. Industry operators accept liability for annuities and life insurance policies, disability income and accidental death and dismemberment insurance policies, while also investing the premiums received by clients into a variety of financial securities. The industry has mainly suffered from the negative economic effects caused by the coronavirus pandemic, such as volatile interest rates and an increase in the morbidity rate. Despite this, revenue still grew at a CAGR of 2.5% to $114.3 billion, including a 1.9% rise in 2023 alone, when profit reached 0.9%. However, growth was limited due to the decrease in investment income and increase in claim payouts from the pandemic, which forced industry operators to pay consumers more while earning less interest on their invested capital. This has placed a significant strain on industry profit, which has decreased throughout 2023.

The Life Insurance and Annuities industry in Canada 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.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."

Table of Contents

76 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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