In Canada, the largest insurance company in terms of total assets in 2018 was Manulife Financial with approximately 750 million Canadian dollars. Intact Group held the largest market share of the property and casualty insurance in 2018 with over 14 percent of direct premiums written in the Canadian market. The return on investment of property and casualty insurers has fallen since 1990. In 1993, the return on investments was 10.7 percent, whereas it was only two percent in 2018.
The global rise in technology is also having an impact on the Canadian insurance market.. In 2018, over 60 percent of Canadian Millennials believed in the safety of online insurance information. Telematics is a branch of information technology, which is increasingly being used by auto insurance companies to calculate premiums, track customer behavior and assess risk. In 2017, almost 80 percent of property and casualty insurance executives thought that telematics would have an impact on rating and pricing in the next five years.
