Insurance and Pension Funding in Canada: ISIC 66

Country Report

About This Report

Dec 2017

Industry’s turnover expected to see 3% CAGR over 2016-2021, driven by improving macroeconomic developments over the medium term, and anticipated rise in health insurance

Costs and expenses grow faster than turnover, resulting in weaker profitability indicators

Life and health insurance premiums continue to rise in 2016, while annuity premiums drop slightly

Increasing popularity of life and extended health insurance drive industry’s growth in 2016

Insurance and pension funding industry in Canada grows by 2% in 2016 to CAD51.7 billion

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After moderate growth in 2016, industry’s performance set to accelerate
Insurance benefits anticipated to increase over forecast period
Rising costs, low interest rates and increases in insurance benefit payments hurt industry’s profitability

Competitive Landscape

Continuing consolidation in competitive environment

Industry Overview

Chart 1 Production vs Nominal GDP 2001–2021
Table 1 Key Industry Indicators 2011–2016
Table 2 Key Industry Indicators: Annual Growth 2012–2016


Table 3 Number of Companies by Employment Size 2011–2016
Table 4 Number of Companies by Employment Size: Annual Growth 2012–2016
Table 5 Number of Companies by Employment Size: Share of Total 2011–2016
Table 6 Production by Employment Size 2011–2016
Table 7 Production by Employment Size: Annual Growth 2012–2016
Table 8 Production by Employment Size: Share of Total 2011–2016
Table 9 Industry Leaders: Company Production Shares in 2016

Import and Export

Chart 2 Import vs Export Growth 2001-2016
Table 10 Import and Export 2011–2016

Market and Buyers

Table 11 Key Market Indicators 2011–2016
Table 12 Key Market Indicators: Annual Growth 2012–2016


Chart 3 Household Expenditure on Insurance and Pension Funding vs GDP 2001–2021
Chart 4 Household Expenditure on Insurance and Pension Funding vs Population 2001–2021
Table 13 Households: Key Statistics 2011–2016


Table 14 Supply Structure 2011–2016
Table 15 Supply Structure: Annual Growth 2012–2016
Table 16 Supply Structure:Share of Total 2011–2016

Labour Costs

Chart 5 Number of Employees vs Average Salary 2001–2016
Chart 6 Output per Employee vs Average Salary 2001–2016
Table 17 Key Statistics 2011–2016

Industry Attractiveness Index

Chart 7 Attractiveness Index of Insurance and Pension Funding Among Other Canada Industries
Chart 8 Binary Diagram of Attractiveness Index
Table 18 Attractiveness Index Composition

Attractiveness Index: Explanation

Future Outlook

Table 19 Forecasts 2017–2022


Insurance and Pension Funding
Life Insurance
Non-life Insurance
Pension Funding