CLHIA-ACCAP

33 foreign companies do in Canada. For instance, during 2014, foreign companies operating in Canada through branches and subsidiaries collected premiums of $18.6 billion from Canadian clients, compared with the $61.6 billion generated by Canadian companies from foreign customers. Of total foreign premiums, 53 per cent come from the United States, 19 per cent from the United Kingdom and Europe, 16 per cent from Asia, and the remainder from the Caribbean and other Latin American countries. Benefit payments During the year, Canadian companies paid out $69.5 billion as benefits to policyholders and annuitants in other countries, almost one and a half times the payments of 10 years ago. Payments under international policies accounted for slightly less than half (48 per cent) of the worldwide total for the year. Assets At the end of 2014, the assets invested by Canadian life and health insurance providers on behalf of policyholders in other countries amounted to $728.8 billion, up 10.8 per cent over 2013 levels. The assets held for foreign operations represented just over half (51 per cent) of the worldwide total. For comparison, assets held for foreign policyholders and annuitants totalled $432.1 billion 10 years ago. Foreign operations The ability of Canadian insurers to do business abroad attests to the strength and international nature of the Canadian life and health insurance providers and to the confidence of foreign clients in the soundness of Canadian insurers and in the integrity of their regulation. The business done outside Canada has extended the Canadian companies' operational and policyholder bases, providing access to product and marketing developments in an evolving and challenging market. Canadian life and health insurance providers employ 107,400 people outside Canada through their branch and subsidiary operations: 14,900 in the United States and 92,500 elsewhere around the world. In addition, many jobs in the head offices of Canadian insurers with foreign operations relate in whole or in part to their foreign business. (Data are reported in Canadian dollars, unadjusted for foreign exchange fluctuations, which impacts growth comparisons of foreign operations of Canadian life and health insurers over the years.) Sources: OSFI, CLHIA 1 Includes premium equivalents for uninsured contracts administered by the industry 2 Includes premiums from the Caribbean and other Latin American countries International Operations by Region – 2014 (share of total premiums 1 ) UK & Europe 7.9% Canadian operations 59.0% Foreign operations 41.0% Other 2 5.0% Asia 6.6% United States 21.5% Total: $150.1 billion

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