Life and Health Industry plays a very important role meeting finance needs of various
level of government (3 levels of government 1. pension
3. prisons, hospitals)
Government gets money from issue bonds, Life and Health Insurance Industry buys
2.2 million for 2008
Life and Health Industry’s investment -government 18%
-corp. Securities 40% 证证证证
-Mutual Funds 19%
-Real estate + mortgage 16% 证证证
Insurance Industry in Canada is financially strong and it is a highly competitive
120 companies in Canada 87% of product from Canadian.
Insurance in Canada is internationally successful
72 billions in new premium come into insurance in Canada
36 billion comes from international
Insurance and Health Industry contribute to small companies in Canada.
1. Commercial Mortgages
2. Life and Health Industry provide products, which business can trap and make
them stay through agent.
3. Life and Health Industry provide consulting services.
Major employers 132,000 jobs and over 10,000 are in Waterloo
Two primary form of insurance:
Individual Coverage: 1. Term 2. Permanent (whole life)
Insurance coverage $165,000 average amount group + individual
Group Coverage: 1. employer 62% 2. Creditor 31% 3.Association 7%
Canadian Life and Health Insurance industry:
1. GWL (Great West Life) Group 2. Manual Life 17%
- GWL 11% 3. Sun Life financial 16%
- Canada Life 7%