Canada

Axco provides details on the life insurance sector including Canadian market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Canada, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Canadian pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Canada report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

Canada has a large and mature life insurance market with high penetration. Growth is in the low single digits, 5% higher in 2019 to CAD 23.33bn (USD 18.35bn) over the previous year, slightly ahead of its longer-term 4.1% compound average annual growth rate since 2000.

Individual is the larger segment accounting for 81% of total written premium in 2019 with group the balancing 19%. Leading individual products by in force cover include term life insurance, followed by universal life then whole life. Disability covers are also significant and include individual income protection (disability income) and critical illness.

In the group segment, employer-sponsored protection covers ....

Canada's pensions system is developed and ranks highly in an international context for its adequacy, sustainability and integrity.

At the base of Canada's pension system is universal pillar I provision, comprising two main national programmes:

• Old Age Security (OAS), a universal state pension funded from government revenues

• Canada Pension Plan (CPP) (Quebec Pension Plan (QPP) in Quebec) funded by mandatory social insurance contributions on the working population.

Following an agreement between the federal government and the provinces ....

Canada has a universal publicly funded healthcare system known as Medicare, with treatment mostly free at the point of use. There are also specific public health programmes for native Canadians known as First Nations people and the armed forces.

The principles guiding Medicare are contained in the Canada Health Act (RSC 1985, c6) with health administration devolved to a provincial/territorial system of 13 Medicare insurance plans. Public health funding is split between federal and provincial governments.

Medicare provides comprehensive inpatient and outpatient cover, restricting private sector healthcare to ....