24 Canadian Life & Health Insurance Facts // 2020 Edition
Notes
* the industry's contribution
is especially high for health
insurance, accounting for over
50% of value-add generated.
See Piling On - How Provincial
Taxation of Insurance
Premiums Costs Consumers,
CD Howe Institute.
International operations
** Includes the Caribbean
and Latin American
Canada's insurers provide coverage and services to 65 million
people in over 20 jurisdictions. In fact, three of Canada's life
and health insurers rank among the top 15 largest in the world.
Source of premiums
Revenue from premiums outside of North America
have more than doubled since 2014
Canadian life and health insurers are
trusted at home and around the globe
Assets held by Canadian life and health insurers on behalf
of policyholders outside of Canada amounted to over $950
billion at the end of 2019, up 31 per cent from five years ago.
Canadian insurers' foreign assets
continue to grow
2014 2016
2018
2015 2017 2019
$
70B
$
35B
57.9%
Canada USA Asia Europe Other**
11.1%
11.1%
8.1%
11.8%
countries &
territories
20
people employed
outside of
Canada
190,000
people protected
outside of
Canada
65M
