Canadian Life and Health Insurance Association Inc.

Canadian Life and Health Insurance Association Inc.

December 07, 2010 11:11 ET

Canadian Life and Health Insurance Industry 2009 Statistics Reflect Strong Performance

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2010) - The Canadian life and health insurance industry turned in yet another strong performance in 2009, despite the challenging economic and financial market conditions during the first half of the year. "Last year's strong performance reflects the fact that the industry continues to offer Canadians products and services that they value, and demonstrates the industry's importance to Canada's economic well-being," noted Frank Swedlove, President of the Canadian Life and Health Insurance Association (CLHIA).

  • By the end of 2009, industry assets in Canada rebounded by 15.5 per cent to a record high of $474.9 billion.
  • Total premiums and premium equivalents (all lines of business) rose 3.7 per cent to $79.1 billion.
  • Annuity premiums rose to $36.4 billion (up 4.7 per cent over the high levels of the previous year).
  • Premiums for supplementary health and disability insurance products rose 3.4 per cent to almost $27.6 billion.
  • Life insurance premiums increased 1.6 per cent to exceed $15.1 billion.

The Canadian life and health insurance industry provides a wide range of financial security products, including life insurance, annuities (including RRSPs, RRIFs and pensions) and supplementary health insurance, to about 26 million Canadians. Established in 1894, the CLHIA is a voluntary association whose member companies account for 99 per cent of Canada's life and health insurance business.

Contact Information

  • Media enquiries and for a copy of the industry's annual
    Canadian Life and Health Insurance Facts, contact:
    Wendy Hope
    Vice President, External Relations
    (416) 777-2221 or (613) 230-0031