September 27, 2021

Best’s Market Segment Report: Canada’s Property/Casualty Insurance Segment Resilient Against Pandemic; Life/Annuity Outlook Back to Stable

OLDWICK, N.J.–()–Canada insurance companies’ ability to absorb the volatility caused by the pandemic has led AM Best to maintain its stable outlook on the country’s property/casualty segment and revise its life/annuity outlook back to stable from negative. Additionally, according to AM Best’s annual review of Canada’s insurance industry, short- to medium-term economic prospects are positive, with government measures likely to cushion any future jolts.

In its new Best’s Market Segment Report, titled, “Canada Insurance: P/C Segment Remains Resilient, L/A Segment Outlook Turns to Stable,” AM Best states that the country’s overall insurance industry remains well-capitalized. The underwriting performance of Canada’s property/casualty industry overall has been consistent in recent years, and even through year-end 2020, despite the unique…

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