Canadian Life Insurance Market: Q2 2024 Sales Results
Canadian life insurance market new annualized premium grew 10% to C$522 mn ($387 mn) in Q2 2024 compared to the same period last year. Policy count also increased 4%
Insurance is a way to manage your risk. When you buy insurance, you purchase protection against unexpected financial losses. The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Canadian life insurance market new annualized premium grew 10% to C$522 mn ($387 mn) in Q2 2024 compared to the same period last year. Policy count also increased 4%
4 years after the pandemic began in 2020, many countries still report higher death rates. For Life and Health (L&H) insurance, this poses a challenge
Artificial intelligence promises to revolutionize how P&C insurance business gets done. The exact ways AI will influence business are unknown
U.S. property and casualty (P&C) insurance industry achieved its best underwriting performance in over 15 years in 2024. The industry has turned a corner
The mid-year 2024 results for North American property and casualty insurers indicate strong operating returns across sectors. Improved underwriting results and higher investment income
Total U.S. life insurance new annualized premium fell 1% in the H1 2024 to $7.4 bn and policies sold remained flat. The total number of policies sold in the 2024
The cancellation of major tour events, like concerts, poses significant financial risks for insurance industry. This impact is especially evident with high-profile artists
The world undergoes constant change and this gives rise to “emerging risks”. Thechanging risks are difficult to quantify, yet can have significant impact on the insurance industry
Western insurers have provided coverage for Rosneft tankers transporting sub-sanctioned Russian crude… despite the risks linked to the G7 price cap
The improving 2024 results for U.S. personal auto insurers are expected to persist through the rest of 2024 and into 2025. Significant price hikes and easing claims severity
US life insurers experienced a relatively stable second quarter, showing higher year-over-year earnings and unveiling strategic updates for select companies
Global natural disaster losses in the first half of 2024 reached $120 bn, down from 2023, which saw $140 bn in losses due to a severe earthquake in Turkey and Syria
Reduced investment in supply chains lowers their resilience to natural disasters, unexpected technology outages, and political events, increasing the risk
Increasing use of artificial intelligence triggers claims across many lines of business. Insurers will need to understand of intended effects
Natural disasters amplified by climate change continue to take a bitter toll on the global economy, caused $350 bn in economic losses, with insurance covering just over $100 bn
1H 2024 saw multiple notable natural catastrophe events, which drove total year-to-date economic losses above at least $117 bn
Life insurers’ risk appetite is returning rapidly as interest rates remain higher for longer. Stock insurers are regaining appetite for asset-intensive business
Severe convective storm (SCS) losses in the US continued to dominate global insured losses in 2024, following a highly active period for the peril
The rise in U.S. homeowners insurance costs have been driven by a combination of increasing natural catastrophe losses and extraordinary inflation
The global insurance industry has reached a new equilibrium after the challenges of recent years. The global economy has surprised on the upside
The 2024 Atlantic hurricane season officially began and has already been active. Business owners found that 91% identified specific weather or natural hazards as risk
The total economic loss from global natural catastrophes for H1 2024 was estimated at $128 bn, insured losses totalled at $61 bn
Aon released 2024 Global Benefits Trends Study. The study indicates global minimum benefits standards are becoming standard for multinationals
Insured losses from Hurricane Berylcould have surged if the Category 1 hurricane had struck a densely populated Texas city like Corpus Christi or Galveston
The U.S. property and casualty insurance market is set for a return to underwriting profitability and significant improvements in return on capital