Issue link: http://clhia.uberflip.com/i/563156
32 The Canadian life and health insurance industry has significant operations in international markets, through its foreign branches and subsidiaries. Canadian life and health insurers conduct business in more than 20 countries and territories around the world, providing financial protection to about 45 million people through life and health insurance policies and annuity contracts. These foreign operations account for 41 per cent of Canadian life and health insurers' worldwide premium revenues while at the same time providing significant diversification of their overall global activities. Three Canadian life and health insurers rank amongst the top 15 of the world's largest life insurers. Premiums During 2014, Canadian life and health insurance providers received nearly $61.6 billion in premiums and premium equivalents from outside Canada, up 9.4 per cent over 2013 levels and accounting for 41 per cent of their worldwide total. Canadian companies collect considerably more premiums abroad than Foreign Operations of Canadian Insurers Worldwide Operations of Canadian Life and Health Insurers (millions) Premium Income Assets Year In Outside World- In Outside World- Canada Canada wide Canada Canada wide 1960 $ 747 $ 393 $ 1,140 $ 6,081 $ 2,868 $ 8,949 1970 1,578 784 2,362 11,773 5,100 16,873 1980 6,623 2,720 9,343 35,663 12,312 47,975 1990 19,254 11,416 30,670 108,001 48,393 156,394 2000 41,540 49,421 90,961 254,048 263,358 517,406 2005 62,611 71,924 134,535 379,011 442,241 821,252 2006 66,738 79,196 145,934 413,694 514,758 928,452 2007 74,969 76,015 150,984 458,090 482,407 940,497 2008 78,243 71,707 149,950 431,212 519,180 950,392 2009 78,482 69,981 148,463 497,496 514,659 1,012,155 2010 78,904 63,150 142,054 534,385 526,369 1,060,754 2011 76,535 56,935 133,470 552,488 604,473 1,156,961 2012 78,264 48,413 126,677 596,722 606,239 1,202,961 2013 81,311 56,319 137,630 622,617 657,571 1,280,188 2014 88,488 61,589 150,077 689,839 728,837 1,418,676 Sources: OSFI, CLHIA Figures since 2000 report on the business of both federally-registered and provincially-incorporated insurance companies (life and property and casualty), fraternal benefit societies, and not-for-profit health care benefit providers such as provincial Blue Cross organizations. Earlier years include data for insurance companies only Branch and subsidiary operations are included since 1995 and branch business only in earlier years Premium equivalents for uninsured contracts are included since 2003 and premiums for insured business only in earlier years 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