Boston, MA -- (SBWIRE) -- 03/26/2014 -- The Canadian personal accident and health insurance segment grew from CAD16.1 billion (US$15.1 billion) in 2008 to CAD20.5 billion (US$20.6 billion) in 2012, at a review-period CAGR of 6.3%. The growth resulted from an increased number of outbound travelers from Canada, rising demand for private health insurance products as a result of inadequate publicly funded healthcare and a rising elderly population which consumes more health insurance products. These factors, coupled with the improving business and environmental conditions in the US, the largest trading partner and importer of Canada's goods, is expected to support the growth of the Canadian personal accident and health insurance segment over the forecast period (2013-2017). As such, the Canadian personal accident and health segment is expected to grow at a CAGR of 5.8% over the forecast period.

Key Highlights

- The Canadian personal accident and health segment rose from CAD16.1 billion (US$15.1 billion) in 2008 to CAD20.5 billion (US$20.6 billion) in 2012, at a CAGR of 6.3% during the review period.
- The growth was a product of the increased number of outbound travelers from Canada, rising demand for private health insurance products from an inadequate public system, and the rising elderly population.
- The health category is controlled by the public sector, while private health insurers complement the public healthcare system by providing non-urgent and elective treatments.
- The main distribution channels for personal accident and health insurers in Canada are agencies, brokers and direct marketing
- The personal accident and health segment is competitive with the presence of both domestic and overseas businesses.

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Canada:

- It provides historical values for the Canadian personal accident and health insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key categories in the Canadian personal accident and health insurance segment, along with market forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for personal accident and health insurance products in Canada.
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Canada for the personal accident and health insurance segment.
- It provides a detailed analysis of the reinsurance segment in Canada and its growth prospects.

Companies Mentioned in this Report: Manulife Financial Corporation, Sun Life Assurance Company of Canada, The Great-West Life Assurance Company, The Canada Life Assurance Company, London Life Insurance Company, Munich Reinsurance Company

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Insurance research reports at Fast Market Research

You may also be interested in these related reports:

- Personal Accident and Health Insurance in Thailand, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in Austria, Key Trends and Opportunities to 2017: Despite being the smallest insurance segment in Austria, personal and health registered the fastest growth.
- Personal Accident and Health Insurance in South Africa, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in India, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in the Netherlands, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in Singapore, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in Russia, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in Mexico, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in Ireland, Key Trends and Opportunities to 2017