Property, Casualty and Direct Insurance in Canada
The Property, Casualty and Direct Insurance industry in Canada has grown steadily over the past five years and has benefited from gradual growth in Canadian disposable incomes, property values and residential values, which has enabled industry operators to charge higher premiums. Moreover, as the Canadian population has grown, aged, urbanized and gotten progressively wealthier, demand was boosted for property, casualty and direct insurance, due to an expansion in the industry's potential client base. Over the five years to 2023, the industry will continue to benefit from increased demand due to an expanding Canadian population and higher premium prices driven by anticipated growth in the household wealth and asset values.
Companies in this industry are engaged in underwriting insurance policies that protect individuals, businesses and agencies against losses that occur as a result of property damage, liability or other risks. Additionally, companies in this industry provide reinsurance service, assuming all or part of the risk associated with existing insurance policies. This industry does not include insurance or reinsurance coverage for life, disability, accidental death, dismemberment or health risks.
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.
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