Published on : Nov 19, 2018
Albany, New York, November 19, 2018: Owing to the geographical location of Canada, it has been prey to natural disasters. Property insurance accounted for the largest segment with respect to gross written premium. General insurance in Canada has less volatile underwriting results vis-à-vis the U.S. which can be attributed to the less threatening catastrophic experience and competitive dynamics. Nevertheless, the regulatory ambience in Canada plays an invaluable role in the stability of the market. This can be attributed to good corporate governance, sound ERM (Enterprise Risk Management) practice and prudent capital. These insights are according to the report titled “Strategic Market Intelligence General Insurance In Canada Key Trends And Opportunities To 2022,”which has been recently added to the repository of Market Research Hub.
Bush fire in May 2016 resulted in irreplaceable loss which accounted for CAD 3.8 billion. As reinsurer bore major portion of the loss, insurer capital strength was not impacted.
The surge in the growth of general insurance can be attributed to the increase in the demand for property insurance. This was mainly due to the repercussions of catastrophe, the awareness of property insurance and the exponential growth of housing market.
The advent of technology has had the impact on general insurance in Canada as the distribution channel is gradually shifting towards e-commerce. The other distribution channel are direct bancassuracne, agencies, direct marketing, and brokers, to name a few.
General Insurance in Canada: Key Trends and Opportunities to 2022: Report Content
The perusal of this report furnishes a thorough assessment on general insurance in Canada. Further, the report furnishes an in-depth analysis with regards to market size. Essentially, the report peruses major drivers, restraints, trends, predominant players in the market and product categories along with market estimation.
The report also shows the value for major performance indicators such as incurred loss, written premium, commissions and expenses, total investment income, net earned premium during the review period and assessment period, combined ratio and total assets. Besides, report also gives an exhaustive overview of the Canadian economy and gives thorough information on competitive landscape in Canada. Moreover, the report also incorporates details of government regulations and changes in the regulatory structure, FDI, investment opportunities, government initiatives and enterprise structure.
The report begins with the executive summary which illustrates regulatory structure, taxation regime, government initiatives and overall Canadian insurance industry. Besides, a comprehensive analysis of the competitive landscape highlights profiles of eminent players in the global market space. Moreover, the report also assesses the strategic moves, areas of interest, and developments undertaken by major players in the market.
General Insurance in Canada: Key Trends and Opportunities to 2022: Research Methodology
A robust research methodology has been adopted with respect to providing a research approach incorporating of secondary and primary research. The insights in the report is the result of an in-depth secondary research, primary interviews and in-house reviews by panel of experts.
The secondary research incorporates SEC filings, company websites and presentations by investors, industry white paper and statistical database. Besides, the primary research embodies face to face interviews, phonic interviews and e-mail interaction coupled with honest reviews of the shelf label market regardless of geographies. To provide the readers with authentic report, a panel of expert peruses and examines the data collected from various sources.
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