DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/l45nv2/life_insurance_in) has announced the addition of the "Life Insurance in Canada, Key Trends and Opportunities to 2018" report to their offering.
Life insurance is the largest segment in the Canadian insurance industry, accounting for 39.8% of its gross written premium in 2013. It is also the most developed segment, with a penetration rate of 2.3% in 2013. However, the segment posted a compound annual growth rate (CAGR) of -0.2% during the review period (2009-2013). The segment's decline was associated with prolonged low interest rates, rising levels of household debt and weak economic development. With insurers adopting innovative pricing and risk-averse strategies for their products, a rise in employment and an increase in consumer confidence is expected to increase the segment over the forecast period.
- The segment declined in the review period due to a prolonged period of low interest rates, rising levels of household debt and weak economic development.
- On October 7, 2014, the Ministry of State (Finance) announced that Sun Life, Great West Life, Manulife, Standard Life and Industrial Alliance were eligible to issue Pooled Registered Pension Plans (PRPPs) to employees working in companies in federally regulated provinces
- The life segment is sufficiently capitalized, with the three-largest life insurers ranking among the world's top 15 in terms of stock market capitalization.
- The sluggish economic environment and historic low interest rates have forced insurers to adopt innovative strategies. Insurers will expand their product offerings through government approvals for pooled registered pension plans (PRPPs) and voluntary retirement savings plans (VRSPs) by private insurers.
Key Topics Covered:
1 Key Facts and Events
2 Executive Summary
4 Canadian Insurance Industry Attractiveness
5 Life Insurance Outlook
6 Analysis by Distribution Channel
7 Governance, Risk and Compliance
8 Competitive Landscape and Strategic Insights
- Manulife Financial Corporation
- Great-West Life Assurance Company
- Sun Life Financial Inc.
- RBC Life Insurance Company
- Standard Life Assurance Company of Canada
- Transamerica Life Canada
- Empire Life Insurance Company
- Co-operators Life Insurance Company
- BMO Life Insurance Company
- Equitable Life Insurance Company of Canada
For more information visit http://www.researchandmarkets.com/research/l45nv2/life_insurance_in