Canada’s insurance industry will survive, says Moody’s

The outlook for Canada’s life industry is stable, says a new report by Moody’s.

Not only is our economy improving, says the ratings agency, but the country’s insurance industry is also structurally sound.

Read: Canadian economy is in transition

This year, companies have taken steps to hedge their market exposures. They’ve also realigned product offerings and are starting to look at possible growth areas.

Read:

• P&C insurers must harness new data
• Are you clients’ kids protected?

For example, insurers are considering how they can market insurance more effectively to younger Canadians. Providers like Desjardins and Equitable life are also offering up innovative new offerings like pet insurance and mobile hubs for customers.

Click here to request the full report.

Also read:

Paring insurance offerings put Canadians at risk

Use of insurance-comparison websites rising

Do client policies pass the exempt test?