Canada Insurance, Companies & Insurance Quote
Insurance in Canada has shown impressive performance with life insurance premiums growth reaching over $12.5 billion showing an increase of 4.9% and the other health and disability products showed $19.2 billion showing an increase of 6.2%.
The records of 2003 year end shows $1.318 billion individual life insurance, $1.166 billion group life insurances revealing 17.5 million Canadians own life insurances.
The health and life insurance sector in Canada includes P&C (property and casualty) Insurance and general insurance.
The major three P&C companies are ING Canada with $7.2 billion, Royal & Sun Alliance with $4.0 billion and Aviva Canada Inc with $5.8 billion. Referring to major three companies showing profits before tax are Chubb Insurance of Canada with $73.5million, Factory Mutual Insurance with $74.4 million and Aviva with $73.3 million.
Referring to net premiums ING is $2.0 billion, CGU group $1.8 billion and co-operators group with $1.3 billion.
Other Insurance operations
Insurance in Canada comprises of Health Insurance, Property Insurance, Liability Insurance, Property Insurance and Casualty Insurance.
There are foreign branches as well as subsidiary operations accounting for life insurance ownership to $1861 billion, showing premiums of $54.6 billion, assets for $296.4 billion and benefit payments for $40.8 billion. Property insurance offers protection to buildings, contents wrapping the homeowners and tenants.
Liability insurance protects the buyer from legal liability as it compensates the buyer for any injury suffered. Property and casualty insurance offers protection for homes, commercial enterprises and motor vehicles. Insurance in Canada includes Marine and aircraft insurance that provides protection for cargo, vessels and to passengers.
There are enough companies to offer insurance in Canada namely Assumption Life is a life insurance provider in Canada having more than 75,000 policies and operates over 1 billion dollars of assets. Another very well known insurance provider in Canada is Aviva Canada, the next property & casualty insurer with gross written premium $3.155B.
Canada insurance includes Desjardins Financial Security, a leading financial institution offering individual and group health and life insurance, besides retirement saving products.
Empire Life also offers group and individual life and health insurance products. Fairfax Financial offers life insurance as well as reinsurance, insurance claims management and investment management.