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A.M. BestTV: Canada Insurance Market Bucks TrendsThis episode of A.M.BestTV highlights A.M. Best's 2015 Insurance Market Briefing - Canada, which recently took place in Toronto. At this annual briefing, senior A.M. Best analysts expressed the view that Canada's market continues to be one of the most stable markets worldwide. Click on http://www.ambest.com/v.asp?v=mbc915 to view the entire program. The briefing examined the impact of current economic conditions and rating trends on the property/casualty (P/C), life and reinsurance segments of the Canadian market. "It is a market that changes just like every other one and the dialog here today is very forthcoming and valuable for A.M. Best," said Group Vice President Anthony Diodato. "Despite all these headwinds that companies are up against the Canadian market is one of A.M. Best's most stable for rating distribution," said Chief Rating Officer Stefan Holzberger. Although the Canadian market has its challenges, A.M. Best maintains a stable outlook for the Canadian P/C and life segments. "Companies are looking for scale, access to distribution and are rebranding themselves to be more appealing. As for cyber risk, it is not a matter of if, but when a company will be hacked, and from an insurance perspective, potential premium growth could be explosive and market opportunity very expansive," stated Senior Financial Analyst Jackie Lentz. Discussing the Canada life insurance sector, Senior Financial Analyst Richard McMillian noted how "Canadian life insurers are investing heavily in life management and starting new products based on the current low interest rate environment." Senior Financial Analyst Gale Guerra said she sees positive signals in the Canadian reinsurance industry as "primary companies retain more, alternative capacity continues to be provided by the capital markets and the broadening of terms and conditions, which really helps reinsurers maintain their market share and retain clients." To access a copy of A.M. Best's Canada special report, which also includes details on the P/C auto segment and regulatory changes that are impacting the entire industry, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=241407. Other persons appearing in this episode:
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A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
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