FINANCIAL STATEMENTS SUPERINTENDENT S REPORT ON INSURANCE

Transcription

1 FINANCIAL STATEMENTS SUPERINTENDENT S REPORT ON INSURANCE 213

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3 TABLE OF CONTENTS SUPERINTENDENT S REPORT ON INSURANCE 213 The following information was obtained from the annual flings and, in the case of federally registered insurers, from the Ofce of the Superintendent of Financial Institutions. While every efort has been made to ensure the accuracy of this report, decisions should not be made solely on the information contained in it. Other sources should also be consulted. Any material changes to this information will be reported to the Minister of Finance and published in The Ontario Gazette. The information is organized by type of insurer, and insurers are listed alphabetically within each group. Letter to Minister of Finance 2 Summary Financial Information 3 Insurer Statistics 4 Premium Statistics 5 Property and Casualty Insurance Companies 6 Life Insurance Companies 15 Reinsurance Companies 17 Reciprocal or Interinsurance Exchanges 19 Fraternal Societies 2 Financial Summary Notes 21 Superintendent s Report on Insurance 213 1

4 LETTER TO MINISTER OF FINANCE The Honourable Charles Sousa Minister of Finance 7 Queen s Park Crescent Toronto ON M7A 1Y7 Dear Minister: I am pleased to present the 135 th annual report under Section 36 of the Insurance Act for the year ended December 31, 213. Prior to the creation of the Financial Services Commission of Ontario, this report was issued by the Superintendent of Insurance. In addition to the information contained in this report, a listing of all licensed insurers is published each July in The Ontario Gazette. This list contains the names of the insurers, their addresses, telephone numbers, chief agents, and the classes for which they are licensed. During the year, information concerning newly licensed insurers and changes to existing licences is also published in Bulletins issued by the Financial Services Commission of Ontario. Any broker or member of the public can verify whether a particular insurer is licensed by calling our ofces at This information is also available on the Commission s Internet site News releases and warning notices containing other information of public interest are made throughout the year. These announcements efectively reach a large number of Ontario residents. Information is also supplied to industry trade associations for inclusion in their publications to reach more specialized audiences. The Financial Services Commission of Ontario issues Bulletins as required to provide information to insurers and other individuals interested in the insurance industry. Yours sincerely, Philip Howell Chief Executive Ofcer and Superintendent of Financial Services 2 Financial Services Commission of Ontario

5 SUMMARY FINANCIAL INFORMATION SUMMARY OF COMPANIES LICENCED BY TYPE OF BUSINESS ACTIVITY as of December 31, 213, and December 31, 212 Analysis of 213 total Business Type Additions Withdrawals Ontario Extra Provincial Federal Property & Casualty Companies Life Insurance Companies Reinsurance Companies Reciprocal Exchanges Fraternal Societies s Notes: 1 Companies writing both property & casualty and life business are listed under Life in the above summary. Their fnancial performance is shown separately by business type in the following report. 2 Branch operations are included in the Federal totals. 3 The Superintendent s Report 213 records fgures as of the end of the calendar year (December 31, 213), based on the companies annual flings. The Financial Services Commission of Ontario Annual Report records fgures as of the end of the fscal year (March 31, 214). Superintendent s Report on Insurance 213 3

6 INSURER STATISTICS TO GAUGE THE LEVEL OF COMPETITION, FSCO calculates how many companies represent 8 percent of the market for key products. These fgures are based on individual companies rather than groups of afliated companies. 213 Life Insurers Number of companies representing 8% of the Ontario market share 213 Property and Casualty Insurers Number of companies representing 8% of market share 8% of market share Marine Title Surety Mortgage Liability Legal Expense Hail Fidelity Credit Boiler & Machinery Automobile Property No. of companies % of Ontario market share No. of companies Life 7 Accident & Sickness 5 Annuity 6 4 Financial Services Commission of Ontario

7 PREMIUM STATISTICS INSURANCE IS A 43 BILLION BUSINESS in Ontario. In 213, of the the total premium dollar volume, 51.2 percent went to the property and casualty (including automobile) insurance industry and 47.9 percent went to the life insurance industry. 213 Premium Volume in Ontario The broad pattern among life insurance companies likewise remained constant. Of the 2.5 billion spent on premiums to the life insurers, 15 percent went to buy annuities, 41 percent to purchase individual and group life coverage and 44 percent to obtain accident and sickness insurance. 213 Life Insurance Companies Written Premiums in Ontario Premium Volume 1% 42,858 (million) Life Insurance Companies 47.9% 2,514 Property & Casualty Insurance Companies 51.2% 21,956 Other.9% 388 1% 2,514 (million) Life - Individual Annuities -Individual Accident & Sickness - Individual Life - Group Annuities - Group Accident & Sickness - Group 29.8% 6.3% 5.6% 11.1% 8.6% 38.6% Premium Volume 6,33 1,299 1,169 2,294 1,786 7,932 Property and casualty insurers received 22 billion in premiums in 213. The split among automobile, property and liability insurance remained constant compared to Property & Casualty Insurance Companies Written Premiums in Ontario by Line 1% 21,956 (million) Premium Volume Automobile 56.3% 12,356 Property 26.2% 5,743 Liability 11.6% 2,555 Other 5.9% 1,32 Superintendent s Report on Insurance 213 5

8 PROPERTY AND CASUALTY INSURANCE COMPANIES year ended December 31, 213 Written Premiums Assets to Earned Premium % ONTARIO ALGOMA MUTUAL 1,375 6,742 23,932 17,62 6,33 6% 136 AMHERST ISLAND MUTUAL , ,184 33% 125 AYR FARMERS MUTUAL 24,11 8,291 73,225 31,946 41,279 43% 4,326 BAY OF QUINTE MUTUAL INSURANCE CO. 21,94 14,574 54,515 25,83 29,432 5% 2,322 BERTIE AND CLINTON MUTUAL 12,669 5,995 65,83 3,59 35,771 49% 2,247 BRANT MUTUAL 6,211 3,182 18,35 11,353 6,952 51% 239 CAA (ONTARIO) 195, ,21 495, ,8 119,491 59% 22,435 CARADOC DELAWARE MUTUAL FIRE 1, ,771 1,826 6,945 46% 313 CAYUGA MUTUAL 8,1 3,65 28,567 13,377 15,19 31% 2,41 COACHMAN 58,13 38, ,97 158,949 56,148 58% 12,73 DUFFERIN MUTUAL 5,645 3,32 27,396 21,278 6,118 39% 632 DUMFRIES MUTUAL 13,996 4,471 54,265 24,441 29,824 39% 3,535 ERIE MUTUAL FIRE 5,957 2,688 23,324 6,635 16,689 54% 29 FARMERS MUTUAL INSURANCE COMPANY (LINDSAY) 95,353 56, , ,519 18,478 59% 13,698 FENCHURCH GENERAL 9,593 5,743 25,772 2,1 5,762 53% -96 GERMANIA MUTUAL 17,522 9,154 42,143 22,16 2,37 44% 2,629 GLENGARRY MUTUAL 1,758 4,642 27,337 13,386 13,951 44% 1,432 GRENVILLE MUTUAL 21,838 12,533 67,625 3,975 36,65 61% 1,393 GREY & BRUCE MUTUAL 3,15 1,613 4,79 2,47 2,32 66% -215 HALWELL MUTUAL 17,17 1,737 59,39 32,668 26,641 62% 723 HAMILTON TOWNSHIP MUTUAL 21,75 19,649 68,322 44,49 24,273 61% 763 HAY MUTUAL 9,262 4,81 46,95 15,585 31,365 53% 1,483 HOWARD MUTUAL 1,714 5,26 46,987 17,733 29,254 59% 1,784 HOWICK MUTUAL INSURANCE COMPANY (632) 14,451 7,53 32,95 21,366 11,584 62% 1,62 6 Financial Services Commission of Ontario

9 year ended December 31, 213 Written Assets Premiums to Earned Premium KENT & ESSEX MUTUAL L&A MUTUAL LAMBTON MUTUAL LANARK MUTUAL LAWYERS PROFESSIONAL INDEMNITY COMPANY MARKHAM GENERAL INSURANCE 1 COMPANY (IN LIQUIDATION) MAX CANADA MCKILLOP MUTUAL MIDDLESEX MUTUAL INSURANCE CO. NORFOLK MUTUAL NORTH BLENHEIM MUTUAL NORTH KENT MUTUAL FIRE OXFORD MUTUAL PEEL MARYBOROUGH MUTUAL PEEL MUTUAL PRO-DEMNITY SOUTH EASTHOPE MUTUAL THE WEST WAWANOSH MUTUAL THE WESTMINSTER MUTUAL THE YARMOUTH MUTUAL FIRE TOWN & COUNTRY MUTUAL TOWNSEND FARMERS MUTUAL FIRE TRADITION MUTUAL TRILLIUM MUTUAL 23,943 1,277 79,29 9,356 5,16 17,22 19,36 14,592 64,992 2,442 14,12 72, ,266 99,57 645,436 5,324 2,39 22,63 8,634 6,85 22,775 1,871 5,11 42,68 6,769 2,887 19,963 9,347 3,79 27,672 7,911 3,122 36,938 11,293 3,782 3,913 2,511 12,51 61,496 41,675 24, ,49 19,772 7,86 85,829 14,529 12,445 54,711 16,7 7,587 5,772 8,897 3,468 21,423 9,37 4,66 22,838 11,453 7,95 4,163 7,381 1,86 2,81 13,294 6,29 39,143 38,52 17,538 99,232 39,57 4,233 9,885 7,137 36,19 28,883 26,76 45, , ,875 15,628 7,2 1,794 11,981 22,488 2,192 8,975 1,988 9,815 17,857 16,161 2,777 15,12 15,91 39,472 22,24 82,597 36,812 59,42 26,427 25,894 28,817 26,196 24,576 13,373 8,5 11,2 11,818 22,552 17,611 1,413 9,668 2,74 19,69 51,272 47,96 % 54% 3,281 55% % 51 58% 1,614 91% 5,933 54% % % 2,147 44% % 1,261 41% 1,247 44% 1,46 54% 1,934 45% 6,74 67% % 1,912 43% 3,371 4% 1,53 54% 64 58% 1,266 61% % 1,646 49% 4,8 Superintendent s Report on Insurance 213 7

10 year ended December 31, 213 Written Premiums Assets to Earned Premium % 2 TTC LIMITED 144, ,766 1 USBORNE AND HIBBERT MUTUAL FIRE 5,751 3,764 38,95 6,925 31,98 73% 852 WABISA MUTUAL 7,58 3,595 23,56 15,153 8,47 54% 745 WEST ELGIN MUTUAL 11,269 9,416 45,851 23,46 22,85 66% 1,275 1,69, ,31 3,745,43 2,329,567 1,415, ,798 EXTRA PROVINCIAL ALBERTA MOTOR ASSOCIATION ,227 45, ,95 86% 3,246 AXA INSURANCE INC. -1,276-59,445 3,881,92 1,951,81 1,93,119 66% 111,631 BELAIR INC. 61,785 29, ,614 73, ,245 62% 27,821 CANADIAN FARM INSURANCE CORP ,733 4,611 8,122 47% 1,715 3 CANASSURANCE GMS INSURANCE INC. 7,764 2,999 24,7 12,624 11,446 51% 2,337 INDUSTRIAL ALLIANCE PACIFIC GENERAL INSURANCE CORPORATION 9,378 2, ,519 22,638 4,881 21% 6,177 LA MUTUELLE D ÉGLISE DE L INTER-OUEST 5 5, ,224 27% 32 L UNIQUE GENERAL INSURANCE INC ,62 267,658 65,44 65% 3,579 MILLENNIUM INSURANCE CORPORATION 15,855 3,12 42,49 267, ,964 55% 27,88 OPTIMUM INC. 47,76 26,952 21,895 15,74 51,821 5% 5,834 ORION TRAVEL 23,6 6,949 16,111 51% -8,733 SGI CANADA INSURANCE SERVICES LTD , , ,473 76% 14,264 4 THE CANADIAN UNION THE MUTUAL FIRE INSURANCE COMPANY OF BRITISH COLUMBIA 25 91,141 55,79 35,432 5% 4,717 TRANS GLOBAL 3, ,396 3,623 5,773 4% 967 UNICA INSURANCE INC. 11,367 75, , ,471 99,961 67% 4, ,862 82,66 7,311,48 4,459,554 2,851,926 25,667 FEDERAL ACE INA INSURANCE 15,14 77,578 1,454,344 1,129,13 325,331 92% 1,119 AIG 336, ,661 4,68,844 3,329,633 1,279,211 59% 184,689 ALLSTATE 632, ,33 2,869,1 2,157, ,89 64% 122,877 8 Financial Services Commission of Ontario

11 year ended December 31, 213 Written Assets Premiums to Earned Premium 5 ALTA SURETY COMPANY ARCH INSURANCE CANADA LTD. ASCENTUS INSURANCE LTD. ASSOCIATED ELECTRIC & GAS INSURANCE SERVICES LIMITED AVIVA AXA INSURANCE (CANADA) AXA ASSURANCES (CANADA) AXA PACIFIC CANADA GUARANTY MORTGAGE CANADIAN NORTHERN SHIELD CERTAS DIRECT CERTAS HOME AND AUTO CHUBB CONSTITUTION 6 CO-OPERATORS GENERAL COSECO CUMIS GENERAL DAS LEGAL PROTECTION INSURANCE COMPANY LIMITED ECHELON GENERAL ECONOMICAL MUTUAL ELITE EVEREST FCT LTD. FEDERATED FEDERATION FIRST NORTH AMERICAN 37,731 61, , ,716 7,7 4, ,346 1,495,834 1,36,834 6,571,523-2,699-5,566 1,39,3 1,421-8,828 1,178,59 67, , , ,191 37,92 21,795 1,127,892 1, , , ,5 2,361, ,92 663,543 5,48, , , ,145 62,183 37, ,325 1, ,5 12,48 73, ,37 891, ,224 5,8,978 74,276 21, ,386 13,432 1, ,16 58,14 14, ,913 66,97 43, ,64 1,356 2, ,193 3, ,13 366,719 99,17 6,29 3,426 16,329 71,17 5,512,993 1,58,53 833,28 556, ,4 535, ,19 373, ,58 73, ,68 23,824 6,17 5,446 1,654,778 76,511 3,666,895 1,382,9 462,56 131,89 157,933 63,392 6,946 4, ,67 12,33 3,57,862 1,573, , ,161 61,75 55, ,536 8, ,16 13,94 367, ,658 3,886 6,217 % 134% -37,686 3% % 31 64% 93,442 67% 26,211 67% 26,619 18% 28,375 58% 5,93 62% 41,45 35% % 2,915 71% 88,912 88% -1,674 57% 15,492 56% -3,971 68% 7,897 67% 87,747 6% 19, % -6,531 21% 17,735 55% 13,923 67% 6,73 14% 81 Superintendent s Report on Insurance 213 9

12 year ended December 31, 213 Written Premiums Assets to Earned Premium GENWORTH FINANCIAL MORTGAGE CANADA GORE MUTUAL 7 GRANITE INTACT INTERNATIONAL INSURANCE COMPANY OF HANNOVER PLC JEVCO LEGACY GENERAL NORTHBRIDGE COMMERCIAL INSURANCE CORPORATION NORTHBRIDGE GENERAL INSURANCE CORPORATION NORTHBRIDGE INDEMNITY NORTHBRIDGE PERSONAL INSURANCE CORPORATION NOVEX OLD REPUBLIC OMEGA GENERAL PAFCO PEMBRIDGE PERTH PILOT PMI MORTGAGE INSURANCE COMPANY CANADA PRIMMUM QUEBEC ASSURANCE COMPANY RBC GENERAL RBC ROYAL & SUN ALLIANCE INSURANCE COMPANY S & Y SAFETY NATIONAL CASUALTY CORPORATION SCOTIA GENERAL INSURANCE COMPANY SCOTTISH & YORK INSURANCE CO. LIMITED 195,874 24,961 5,65,981 2,221,116 3,384, , , ,661 67,59 235,152 2,274,791 1,5,36 12,926,961 9,473,58 3,453,93 8,349 3,513 52,82 38,489 14,313 93,7 85,316 1,83, ,45 218,295 6,378 1,824 15,813-1,192 17,5 74,346 57, ,38 436,74 152,36 199, ,23 3,241,253 2,438,542 82,711 19,24 26, ,72 477, , ,77 13, ,682 63, , , , ,814 65, ,873 58,183 46, , ,834 53,455 9,113 5,673 38,437 28,173 1,264 65,334 4, , ,82 66, ,57 15, ,52 382, ,524 9,539 42,637 44, ,958 75, , ,72 58,449 6, , ,557 32, ,651 1,951,449 1,684, ,68 115,233 9,949 24, ,366 31,992 1,366,86 1,81, , ,31 15, , , ,943 59, ,633 4,481,429 3,697, , , ,537 2,11 22,427-1,679 48,735 27,84 21,651 7, , ,353 46, ,8 64,59 84,418 % 25% 64% 67% 85% 67% 48% 7% 58% 63% 76% 67% 73% 51% 55% 68% 67% -47% -1% 95% 7% 72% 55% 7% 45% 63% 394,698 28, , , ,79 33,67 8,654 2,8 15,36 3, ,592 13,99 3,758 18,7 7,153-64, ,67 4,25 3,786 7,16 4, ,911 1 Financial Services Commission of Ontario

13 year ended December 31, 213 Written Premiums Assets to Earned Premium % SECURITY NATIONAL 1,13,61 1,861,352 7,52,98 5,791,549 1,26,549 97% -368,151 8 TD DIRECT INSURANCE INC. 15, , TD GENERAL 132, ,941 1,5, , ,94 116% -33,121 TD HOME AND AUTO 339,46 371,129 1,54,12 1,299,674 24,428 11% -51,151 TEMPLE 68,435 87,12 867,97 735, ,255 67% 11,626 THE BOILER INSPECTION AND 12,93 6, ,489 19,866 81,623 32% 16,218 THE DOMINION GENERAL 97,79 754,963 3,527,31 2,711,25 815,781 76% 54,293 THE GUARANTEE COMPANY OF NORTH AMERICA 227, ,83 1,349,846 87, ,95 71% 17,24 THE MISSISQUOI ,16 377, ,475 67% 6,841 THE NORDIC 332, ,58 1,288,583 1,64,67 223,913 67% 32,26 THE NORTH WATERLOO FARMERS MUTUAL 87,939 41,245 18, ,389 57,922 55% 3,877 THE PERSONAL 497, ,454 1,92,759 1,568, ,476 62% 73,766 THE PORTAGE LA PRAIRIE MUTUAL 47,225 35, , , ,455 75% 1,643 THE SHIPOWNERS MUTUAL PROTECTION AND INDEMNITY ASSOCIATION (LUXEMBOUR 2, ,422 2,57 22,852 52% 723 THE SOVEREIGN GENERAL 79,353 55, ,75 53, ,212 63% 12,476 THE WAWANESA MUTUAL 626, ,613 7,211,781 4,451,522 2,76,259 78% 84,384 TRADERS GENERAL 282, ,18 1,399,557 1,233, ,846 64% 24,742 TRAFALGAR 162, ,24 781, , ,484 67% 17,885 TRAVELERS 64,64-13, ,53 434,16 438,424-4% 61,9 TRISURA GUARANTEE 32,625 5,69 161,344 17,27 54,317 23% 6,436 UNIFUND ASSURANCE COMPANY 533, ,936 2,1,643 1,682, ,421 79% -6,181 WATERLOO 11,174 68, , ,416 76,976 67% 3,841 WESTERN ASSURANCE COMPANY 167,879 98, , ,84 111,29 7% 4,46 WESTERN FINANCIAL 2,943 13,115 48,778 27,962 2,816 57% 1,787 Superintendent s Report on Insurance

14 year ended December 31, 213 Written Premiums Assets to Earned Premium % WESTERN SURETY COMPANY 4,211 3,42 51,354 29,16 22,194 21% 959 WYNWARD INSURANCE GROUP 15,615 1,1 12,333 81,646 38,687 53% 5,253 ZENITH 57,845 42, ,98 192,834 54,146 82% -3,913 BRANCH 17,7,675 13,459,357 19,997,755 8,784,885 29,212,87 1,52, AFFILIATED FM 36,893 58,17 34, , , % -11,846 ALLIANZ GLOBAL RISKS US 94,29 8,32 975, ,59 254,128 98% -17,35 ALLSTATE 7, , AMERICAN BANKERS INSURANCE COMPANY OF FLORIDA 166,884 36,26 537,99 391, ,496 38% 5,923 ARCH ATRADIUS CREDIT INSURANCE N.V. 2,41-5 2,38 12,787 7,593 51% -959 AXA ART INSURANCE CORPORATION BERKLEY 22,42 16,27 198,479 13,932 67,547 81% -13,551 CHEROKEE 3,82 3,366 18,597 8,91 1,56 91% 213 CHICAGO TITLE 14,328 4,993 54,475 26,428 28,47 35% 2,999 COMPAGNIE FRANCAISE D ASSURANCE POUR LE 7,872 2,21 79,862 3,312 49,55 23% 5,548 COMMERCE EXTERIEUR CONTINENTAL CASUALTY COMPANY 19,931 6,541 1,191,44 765, ,91 66% 33,283 COREPOINTE 2 3,159 21,151 5,298 15, % 646 DARWIN NATIONAL ASSURANCE COMPANY ,817 1,569 21,248 71% -1,33 ECCLESIASTICAL INSURANCE OFFICE PUBLIC LIMITED COMPANY 25,52 1,67 168,3 15,436 62,567 65% 135 ELECTRIC 3,218 2,861 62,268 25,349 36,919 95% 174 EMPLOYERS OF WAUSAU ,129 2,623 31, EULER HERMES NORTH AMERICA 2,32 5,664 97,931 53,199 44,732 58% 1,633 FACTORY MUTUAL 78,249 27,98 89,628 41,61 489,27 41% 11,966 FEDERAL ,839 78,639 86,2 24% 6,465 FIDELITY NATIONAL TITLE FIRST AMERICAN TITLE 17,29 1,187 77,44 31,672 45,732 15% 11,271 GENERAL REINSURANCE CORPORATION 514, , ,15 5% 12, Financial Services Commission of Ontario

15 year ended December 31, 213 Written Assets Premiums to Earned Premium GREAT AMERICAN GROUPAMA S.A. HARTFORD FIRE 12 IRONSHORE INSURANCE LTD. HDI-GERLING INDUSTRIE VERSICHERUNG AG JEWELERS MUTUAL LIBERTY MUTUAL LLOYD S UNDERWRITERS MITSUI SUMITOMO INSURANCE COMPANY, LIMITED MOTORS INSURANCE CORPORATION MUNICH REINSURANCE AMERICA, INC. NATIONAL LIABILITY & FIRE NIPPONKOA INSURANCE COMPANY, LIMITED PROGRESSIVE CASUALTY 13 PROTECTIVE 14 RELIANCE SECURITY OF HARTFORD SENTRY INSURANCE A MUTUAL COMPANY SOMPO JAPAN INSURANCE INC. ST. PAUL FIRE AND MARINE STATE FARM FIRE AND CASUALTY COMPANY STATE FARM MUTUAL AUTOMOBILE STEWART TITLE GUARANTY COMPANY SUNDERLAND MARINE MUTUAL T.H.E. THE AMERICAN ROAD 15 TIG TOKIO MARINE & NICHIDO FIRE INSURANCE CO., LTD. 19,62 7, , ,534 4, ,882 9,946 4,19 12,282 3,793 1,127 14,15 89,691 48,124 1,58,23 598, ,1 7,38,71 11,848 13,98 98,112 79,851 62, , ,386 3,949 2,14 49, , ,3 1,463 2,27 2,743-1,54 53, ,693 3, ,884 54,767 24,32 1,268, , ,485 1,455,759 1,121, ,856 6,92,652 74,88 14, , , ,214 1,934 1,2 21,9 92 2,54 15,47 9, ,438 12, , ,215 33, ,75 8,976 21,36 5,551 8, , ,138 5,268,975 2,111,735 56,95 41, ,49 277,827 13,865 1, , ,535 2,826 33,621 3,223 7,78 7,68 13,63 12,291 41,59 6,21 32,483 8,751 43, ,76 653,751 71,64 754,155 5,246,143 1,674,59 92, ,248 39,391 13,54 1,162 3, ,552 3,69 17,471 66,292 67,146 % 3% -2976% 27% 47% 48% 67% 59% 74% 56% 151% -13% -1% 144% 139% 14% 43% 42% 58% 81% 19% 59% 19% 92% 5% 11,562 1,219 6, ,18 35, ,31 1,31 31,237-2,57 5,854 1, ,25 1,46 1,575 4,338 86, ,469 18, ,122 Superintendent s Report on Insurance

16 year ended December 31, 213 Written Premiums Assets to Earned Premium % 16 TRITON UTICA MUTUAL VIRGINIA SURETY COMPANY, INC. WESTPORT INSURANCE CORPORATION XL LIMITED 14,584 14,55 29,156 5,981 2, ,71 21,23 52, ,794 3,57 51, , ,63 8, , , ,9 83,746 3,451 19,792 99, ,594 2% 13% 58% 14% 23, ,659 2,494-16,247 XL REINSURANCE AMERICA INC. 1, , , ,548 63% 4,827 ZURICH LTD 369,748 27,93 3,115,812 2,48, ,467 73% 38,697 3,632,56 2,425,196 31,639,328 21,58,461 1,58,867 1,132,876 TOTAL 21,956,224 16,66, ,693,66 18,632,467 44,61,139 2,979,32 14 Financial Services Commission of Ontario

17 LIFE INSURANCE COMPANIES year ended December 31, 213 Benefts and Written payments to Premiums policyholders Assets EXTRA PROVINCIAL 17 ACADIA LIFE ASSUMPTION MUTUAL LIFE CANASSURANCE DESJARDINS FINANCIAL SECURITY LIFE ASSURANCE COMPANY FIRST CANADIAN INSURANCE CORPORATION HUMANIA ASSURANCE INC. INDUSTRIAL ALLIANCE INSURANCE AND FINANCIAL SERVICES INC. LA CAPITALE INSURANCE AND FINANCIAL SERVICES INC. LS-TRAVEL NATIONAL BANK LIFE SSQ, LIFE INC. THE UNION LIFE MUTUAL ASSURANCE COMPANY (UNION LIFE) TRANS GLOBAL LIFE ,27 6,179 26,93 13, ,23 492,642 26,629 2,154 1, ,118, , ,61 6,337 5,156 2,385 11,311 2,96 213, ,636 1, ,828 1,329, ,774 26,445, , ,924 41,54,322 96,662 16,29 172,665 8,631,215 8,997 68,362 1,233,53 66,783 24,2, , ,471 37,847, ,847 1,373 99,442 8,267,343 2,42 38,466 2,875 96,144 6, ,991 2,412 2,244, ,334 24,524 51,453 3,984 3,657, ,5 132,815 8,232 5, ,223 37, ,872 37,965 6, ,221,84 1,523,213 8,48,345 73,218,24 7,19, ,26 FEDERAL ACE INA LIFE INSURANCE ALLSTATE LIFE ASSURANT LIFE BMO LIFE ASSURANCE COMPANY BMO LIFE CANADIAN PREMIER LIFE CIBC LIFE LIMITED CIGNA LIFE COMPCORP LIFE CO-OPERATORS LIFE CT FINANCIAL ASSURANCE COMPANY CUMIS LIFE FORESTERS LIFE GIRAFFE & FRIENDS LIFE LA CAPITALE FINANCIAL SECURITY LONDON LIFE MANULIFE CANADA LTD. MD LIFE PRIMERICA LIFE RBC LIFE RELIABLE LIFE SCOTIA LIFE SUN LIFE ASSURANCE COMPANY 75,941 21,938 11,563 43, , ,799 1,183 1,18 81,219 19,418 2,854 5,353 1, ,34 144,88 6,666 31,18 82,855 7,152 27,13 11,661 1,287,373 1,37, ,779 5, , ,951 32,455 17,562 21,432 2,491 4,113,255 3,367, ,797 3,743 1,323,881 6,945,88 696,777 26,967 74,671 63,343 1, 5,22,988 1,186,344 1,46,72 8,667 49,442 75,773,52 3,31,113 2,81,19 9,242,535 55,428 99,25 166,55,847 9, ,232,861 6,162,16 123, ,742-95,618 28, ,159, ,192 1,26, ,18 72,188,68 3,287,787 2,58,221 7,738,278 22,791-56, ,214,776 16,69 12,154 3, ,2 1, ,864 91, ,648 15,284 83,225 15,237 17,289 18,189 35,25 11,693 9, ,517-1, ,152 9, ,123 3,363 8, ,424 12,97 3,584, ,823 13,326 3,48 31,798 78,223 1,54,257-23,93 32,637 1, ,898 36,82 12,841,71 1,269,41 Superintendent s Report on Insurance

18 year ended December 31, 213 Written Premiums Benefts and payments to policyholders Assets SUN LIFE INSURANCE (CANADA) LIMITED 13,256 13,644 14,91,582 12,637,223 1,454, ,2 TD LIFE 45,56 12,184 94,47 41,275 52,772 2,956 THE CANADA LIFE ASSURANCE COMPANY 1,96,552 1,57,172 41,738,659 33,633,242 8,15,417 1,153,62 THE EMPIRE LIFE 434,321 38,114 11,797,842 1,841, ,98 111,347 THE EQUITABLE LIFE 285,56 177,198 3,36,371 2,639,72 396,669 58,55 THE GREAT-WEST LIFE ASSURANCE COMPANY 2,569,269 2,51,94 47,765,168 31,152,726 16,612,442 2,243,886 THE MANUFACTURERS LIFE 4,55,488 3,766, ,325, ,422,555 32,92,592 3,398,859 THE STANDARD LIFE ASSURANCE COMPANY 46,57 527,77 46,784,711 44,57,865 2,213, ,166 THE WAWANESA LIFE 27,98 18, , , ,585 5,8 TRANSAMERICA LIFE CANADA 261,32 21,974 9,898,68 8,691,894 1,26, ,337 VSP CANADA VISION CARE INSURANCE , , WESTERN LIFE ASSURANCE COMPANY 44,856 8,57 17, ,15 47,284 8,113 17,929,528 14,259, ,61, ,834,98 85,775,946 9,774,245 BRANCH AETNA LIFE 1, ,47 12,788 53,259 2,724 ALLIANZ LIFE OF NORTH AMERICA ,56 35,98 4,148 2,17 AMERICAN BANKERS LIFE ASSURANCE COMPANY OF FLORIDA 112,855 11, , ,78 71,48 6,431 AMERICAN HEALTH AND LIFE 4,173 1,2 33,826 15,524 18,32 7,6 AMERICAN INCOME LIFE 28,872 5, , ,831 18,124 44,396 AXA EQUITABLE LIFE ,497 25,94 61,593 9,98 CMFG LIFE ,91 5 1, COMBINED OF AMERICA 38,522 12, ,45 364, ,243 83,339 CONNECTICUT GENERAL LIFE 2,792 1,18 126,719 93,112 33,67 17,313 GERBER LIFE 1, ,9 22,276 13, HARTFORD LIFE 9,964 4,165 5, LIBERTY LIFE ASSURANCE COMPANY OF BOSTON ,98 2,81 12, LIFE OF NORTH AMERICA 3,75 3,979 56,62 26,13 3,517 1,83 MASSACHUSETTS MUTUAL LIFE 21 METROPOLITAN LIFE 12, ,39 4,74 NEW YORK LIFE 32,481 32,367 43,72 127, ,387 2, PAVONIA LIFE OF MICHIGAN 6,318 1,997 83,337 38,978 44,359-3,68 23 PHOENIX LIFE PRINCIPAL LIFE ,263 7,323 2,94 93 REASSURE AMERICA LIFE ,86 6,388 2, STANDARD LIFE ASSURANCE LIMITED 9,57 23,753 1,536,845 1,53,389 6, STATE FARM INTERNATIONAL LIFE INSURANCE COMPANY LTD 12,597 65,494 1,485,357 1,171, ,238 52,243 THE STANDARD LIFE ASSURANCE COMPANY 26 2,63 1,297 1,333 9 UNITED AMERICAN ,9 4,87 9, ,37 161,486 5,339,1 3,717,175 1,621, , TOTAL 2,514,369 15,944, ,358,2 589,77,17 94,588,93 1,55,55 16 Financial Services Commission of Ontario

19 REINSURANCE COMPANIES year ended December 31, 213 This table lists only those companies which are licensed solely for the business of reinsurance Premiums Assumed Losses Assets to Earned Premium % ONTARIO FARM MUTUAL REINSURANCE PLAN INC. 128,476 52,91 772, , ,259 59% 39,65 GLOBAL RE ,588 33,82 11, % ,478 52, ,2 522, ,27 39,762 EXTRA PROVINCIAL OPTIMUM REASSURANCE INC. 53,844 8,85 2,184,285 2,11,533 73,752 9,66 FEDERAL ASPEN INSURANCE UK LIMITED 9, , ,43 13,143 15% 9,822 AURIGEN RE 4,85 14, , ,477 61,945-7,89 MUNICH RE 9,322 71,386 1,252, , ,81 65% 39,112 PARTNER RE OF THE U.S. 26,745 15,747 72, ,534 24,64 6% 1,434 RGA LIFE RE 347,243 5,118 6,5,186 5,19, ,859 92,82 SCOR CANADA RE 46,811 2, ,48 535,646 15,42 68% 14,161 SUECIA RE -4 9,322 3,656 5, THE CANADA LIFE 598,493 43,319 1,529,513 9,672, ,164 81,151 THE MORTGAGE ,192 4,162 14,3-12% 3,583 1,159, ,96 19,814,82 17,266,143 2,548, ,313 BRANCH ALEA (BERMUDA) LTD ,146 12,861 11, % 91 AMERICAN AGRICULTURAL 9,89 7,957 85,773 39,631 46, % -5,524 AXIS RE 4,89 12, ,69 212,97 46,99 8% -5,614 CAISSE CENTRALE DE RÉASSURANCE 15,72 1,874 24,293 18,769 59,524 75% 737 COLISEE RE , , ,276 63,93 6,929 CONVERIUM REINSURANCE (NORTH AMERICA) INC. EMPLOYERS REASSURANCE CORPORATION EVEREST RE 88,133 13,659 1,79,56 728, ,129 35% 35,852 GENERAL AMERICAN LIFE 12,754 79,698 1,929, , ,173 3,82 GENERAL RE LIFE CORPORATION ,591 1,834 12,757 1,44 HANNOVER RÜCK SE 139,77 48,121 1,73, , ,5 8% 14,119 MUNICH RE 4,898,819 3,67,99 4,991,456 2,221,41 2,77,55 244,728 Superintendent s Report on Insurance

20 year ended December 31, 213 This table lists only those companies which are licensed solely for the business of reinsurance Premiums Assumed Losses Assets NATIONWIDE MUTUAL NRG VICTORY REINSURANCE LIMITED ODYSSEY RE 28,21 27, ,87 233, ,112 12% -5,66 PARTNER RE LTD. 7,176 4, , ,48 73, PARTNER REINSURANCE EUROPE SE 14,35 8,6 329,54 271,32 58,22 3,135 RELIASTAR LIFE 28 46,157 14,46 31,697 4,688 SCOR GLOBAL LIFE 32,78 22, , , ,986 51,563 SIRIUS AMERICA 2,75 2,674 9,462 4,387 5,75 51% 2,328 SWISS RE LTD 557,57 37,323 8,717,337 6,343,681 2,373,656 46% 56,38 THE TOA RE OF AMERICA 27,198 21,773 3, ,141 78,34 83% 2,718 TRANSATLANTIC RE 33,369 23,73 587, , ,489 83% 9,955 to Earned Premium % 5,963,579 3,987,769 21,55,611 12,997,8 8,58, ,434 TOTAL 7,35,835 4,625,479 43,872,7 32,896,731 1,975,969 74, Financial Services Commission of Ontario

21 RECIPROCAL OR INTERINSURANCE EXCHANGES year ended December 31, 213 Written Premiums Assets Excess of Assets Over to Earned Premium % ONTARIO CANADIAN UNIVERSITIES RECIPROCAL INSURANCE EXCHANGE 11,84 3,44 139,2 67,688 71,332 48% 12,338 COMMUNITY NEWSPAPERS RECIPROCAL INSURANCE EXCHANGE % -19 HEALTHCARE INSURANCE RECIPROCAL 133,24 12,89 1,75,664 74,684 37,98 89% 41,1 MUNICIPAL ELECTRIC ASSOCIATION RECIPROCAL INSURANCE EXCHANGE 11,646 8,924 87,286 3,192 57,94 46% 4,76 ONTARIO MUNICIPAL INSURANCE EXCHANGE 2,312 51, , ,499 9, % -4,744 ONTARIO SCHOOL BOARDS' INSURANCE EXCHANGE 4,165 34, , ,186 8,167 77% 11,169 POULTRY INSURANCE EXCHANGE RECIPROCAL 2,138 5,125 2,249 2,876 % ,43 218,72 1,693,7 1,1, ,392 64,863 EXTRA PROVINCIAL CANADIAN AIRPORTS RECIPROCAL INSURANCE EXCHANGE (CARIE) ,742 2,355 3,387 66% -78 CANADIAN EGG INDUSTRY RECIPROCAL ALLIANCE 1,345 1,912 8,433 27% 1,648 CANADIAN LAWYERS LIABILITY ASSURANCE SOCIETY 8,531 2,681 95,37 81,852 13,185-6% 1,41 8,772 2, ,124 86,119 25,5 2,971 BRANCH LUMBERMEN'S UNDERWRITING ALLIANCE -1,81 13, ,747 1,447 TOTAL 228,22 22,331 1,817,261 1,187,117 63,144 69,281 Superintendent s Report on Insurance

22 FRATERNAL SOCIETIES year ended December 31, 213 Written Premiums Benefts and payments to policyholders Excess of assets Assets over liabilities Income / (loss) ONTARIO GUARANTEED FUNERAL DEPOSITS OF CANADA (FRATERNAL) 35,333 34, , ,641 3,672-1,282 TORONTO POLICE WIDOWS AND ORPHANS FUND 1,754 2,558 89,949 8,846 9, ,87 37,55 375, ,487 12, FEDERAL ACTRA FRATERNAL BENEFIT SOCIETY 8,88 5, , ,423 21, FAITHLIFE FINANCIAL 11,621 14,73 451, ,984 38, SONS OF SCOTLAND BENEVOLENT ASSOCIATION 1, ,578 11,493 3, TEACHERS LIFE INSURANCE SOCIETY (FRATERNAL) 12,6 4,895 64,253 51,45 13, THE GRAND ORANGE LODGE OF BRITISH AMERICA 1, ,251 2,98 4, THE INDEPENDENT ORDER OF FORESTERS 17,839 15,721 2,198,971 1,964, ,45 8,676 THE ORDER OF ITALO-CANADIANS UKRAINIAN FRATERNAL SOCIETY ,66 8,492 1, ,614 43,249 3,378,313 3,6, ,416 8,193 BRANCH CROATIAN FRATERNAL UNION OF AMERICA ,672 11,755 1, KNIGHTS OF COLUMBUS 68,828 4,76 3,19,31 2,18, ,42 19,379 THE ROYAL ARCANUM, SUPREME COUNCIL OF ,817 7,895 5,922 1,338 UKRAINIAN NATIONAL ASSOCIATION ,568 5,637 2, UNITED COMMERCIAL TRAVELERS OF AMERICA, ORDER OF ,858 3,76 1, ,72 41,582 3,6,216 2,29,244 85,972 21,379 TOTAL 159, ,381 6,813,791 5,632,628 1,181,163 29,62 2 Financial Services Commission of Ontario

23 NOTES 1 No fnancial information was reported for Markham General Insurance Company in 213. The company was ordered into liquidation efective July 24, The company s licence is limited to automobile risks of Toronto Transit Commission. 3 No fnancial information regarding property & casualty insurance was received for Canassurance Insurance Company in No fnancial information was received for the Canadian Union Insurance Company in 213. Company was in the process of winding down. 5 No fnancial information was reported for Alta Surety Company in 213. Company has been in liquidation since June The company has a licence condition not to undertake or renew insurance contracts in Ontario after October 25, No fnancial information was reported for Granite Insurance Company in 213. Company has been inactive since November The company has a licence condition not to undertake or renew insurance contracts in Ontario after May 3, No fnancial information was reported for Arch Insurance Company in 213. Company was in the process of winding down. 1 No fnancial information was reported for AXA Art Insurance Corporation in 213. Company became licenced in Ontario as of October 31st, No fnancial information was reported in 213 for Fidelity National Title Insurance Company. Company is in process of winding down. 12 No fnancial information was reported for Ironshore Insurance Ltd. in 213. Company became licenced in Ontario as of December 6 th, The company has a licence condition not to undertake or renew insurance contracts in Ontario after January 9, No fnancial information was reported for Reliance Insurance Company in 213 Company has been in liquidation since August The company has a licence condition not to undertake or renew insurance contracts in Ontario after June 2, The company has a licence condition not to undertake or renew insurance contracts in Ontario after November 2, Company is licenced to write both life and property and casualty insurance. 18 No fnancial information was reported for CT Financial Assurance Company in The former name of Girafe & Friends Life Insurance Company was the Provenance Life Insurance Company. 2 The former name of La Capitale Financial Security Insurance Company was Penncorp Life Insurance Company. 21 The company has a licence condition not to undertake or renew insurance contracts in Ontario after March 9, The former name of Pavonia Life Insurance Company of Michigan was Household Life Insurance Company. 23 No fnancial information was received in 212 for Phoenix Life Insurance Company. 24 The company has a licence condition not to undertake or renew insurance contracts in Ontario after March 27, No financial information was received for NRG Victory Reinsurance Ltd. in 213. Company was in the process of winding down. Superintendent s Report on Insurance

24 About the Financial Services Commission of Ontario The Financial Services Commission of Ontario (FSCO) is a regulatory agency of the Ministry of Finance that regulates insurance, pension plans, loan and trust companies, credit unions, caissses populaires, mortgage brokering, and co-operative corporations in Ontario. FSCO works with consumers, industry stakeholders and investors to enhance public confdence in, and access to, a fair and efcient fnancial services industry in Ontario. For more information on any of these sectors, visit our website, or call our Contact Centre at (416) , toll-free , TTY toll-free Financial Services Commission of Ontario 516 Yonge Street, Box 85 Toronto ON M2N 6L9 Telephone: (416) Toll-free: TTY toll-free: contactcentre@fsco.gov.on.ca Website: Queen s Printer for Ontario, 214 Ce document est aussi disponible en français.