ADMS 1010 Lecture : Week 10 - Confederation Life and RBC [p1]
20 Jan 2012
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Document Summary
Profile of the financial services industry in canada. The financial services sector is incredibly varied. The financial services sector is a significant contributor to canada s economic growth, employing over 750,000 canadians in 2007. 6% of canada s gross domestic product in 2007 (up from 5% in 2000) and contributed approximately billion to gdp. Over billion in acquisitions have happened outside of canada by our financial services sector, which is widely considered one of the most highly developed financial services sectors in the world. This is anchored by what is deemed to be the world s strongest banking system. Foreign investment in our financial services sector is high, accounting for billion in 2006. Canadian life and health insurance companies sell their policies outside of canada as well, accounting for an additional . 7 billion in premiums generated outside of the country.
