Canadian Life Insurance New Premium Rises to $478 mn in Q3 2024
Total new annualized premium for Canadian life insurance increased 4% to $478 mn in Q3 2024. Despite the rise in premium, the policy count dropped 17%
A life insurance policy guarantees the insurer pays a sum of money to named beneficiaries when the insured dies in exchange for the premiums paid by the policyholder during their lifetime. The life insurance application must accurately disclose the insured’s past and current health conditions and high-risk activities to enforce the contract.
Life insurance provides financial protection for your family in the event of your passing. Your beneficiaries will receive money to use as they see fit, ensuring security in a difficult time. For a life insurance policy to remain in force, the policyholder must pay a single premium upfront or pay regular premiums over time.
Term life insurance policies expire after a certain number of years. Permanent life insurance policies remain active until the insured dies, stops paying premiums, or surrenders the policy.
Total new annualized premium for Canadian life insurance increased 4% to $478 mn in Q3 2024. Despite the rise in premium, the policy count dropped 17%
Global life insurance premiums are projected to grow at an annual rate of 3% in 2025 and 2026, more than double the average growth of the past decade
Gross written premiums in the Central and Eastern Europe region totaled €26.35 bn, marking a 7.6% year-on-year increase. Insurance claims paid stayed €11.9 bn
U.S. life insurers are prepared for lower interest rates, with stable earnings and capital that will remain within rating thresholds
German life insurer ratings remain unaffected by reductions in Solvency II (S2) transitional measures, despite higher bond yields, focuses on fundamental S2
Total annuity sales in the U.S. reached $114.6 bn in the third quarter of 2024, marking a 29% year-over-year increase. This represents the 16th straight quarter of growth
Canada’s life and annuity insurance sector’s solid performance, boosted by economic growth and favorable interest rates
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
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
US life insurers experienced a relatively stable second quarter, showing higher year-over-year earnings and unveiling strategic updates for select companies
Life insurers’ risk appetite is returning rapidly as interest rates remain higher for longer. Stock insurers are regaining appetite for asset-intensive business
The low interest rate years were challenging for people trying to save for retirement. Low rates made savings products and life insurance less appealing
While life insurers’ exposures to illiquid assets have been rising, it does not necessarily lead to unmeasured risks. Private and illiquid credit cannot be traded or sold
Higher interest rates improve the outlook for life insurers. Demand for savings-related products is surging, with US fixed annuity sales
The life insurance industry in 2024 looks very different to 15 years ago. Low interest rates from 2008 until the inflation surge after 2021 put huge strain on the traditional life
The surge in interest rates to 15-year highs significantly improves the outlook for life and annuity insurance. The life insurance industry today looks very different to 15 years ago
In the insurance industry, understanding of the risks related to climate change is mostly concentrated in P&C business lines as well as investments
UK life insurance sector are likely to pass on more of the interest they earn on customer cash balances to protect their reputations as customer fairness regulation
US life insurers are expected to see a benefit to investment income amid high interest rates in 2024, but investors will likely still be watching for potential issues
Life insurance costs and concerns for millennials plus types of insurance most important to young people. 26% of millennials had trouble affording their insurance
US Life insurers’ significant capital and short-term liquidity make them unlikely to be forced sellers of real estate assets at distressed valuations
Private credit investments are increasingly important to the business models and investment strategies of US life insurers
Ratings of U.S. life insurers are not currently at risk from commercial real estate (CRE) exposure, given stable investment portfolios comprised of high-quality
Rising interest rates are expected to continue to reduce investment maintenance reserve (IMR) balances for U.S. life insurers
The Australian Prudential Regulation Authority (APRA) has released its quarterly general and life insurance performance statistics