Superintendent of Insurance Report of Business Transacted in 2016

Transcription

1 Superintendent of Insurance Report of Business Transacted in 2016

2 Superintendent of Insurance Alberta Treasury Board and Finance Room 402, Street, NW Edmonton, Alberta T5K 2C3 Phone: Fax: Copyright President of Treasury Board and Ministry of Finance. All rights reserved.

3 Contents OVERVIEW... 2 ACCIDENT AND SICKNESS INSURANCE IN THE PROVINCE OF ALBERTA FOR AIRCRAFT INSURANCE IN THE PROVINCE OF ALBERTA FOR AUTOMOBILE INSURANCE IN THE PROVINCE OF ALBERTA FOR BOILER AND MACHINERY INSURANCE IN THE PROVINCE OF ALBERTA FOR CREDIT INSURANCE IN THE PROVINCE OF ALBERTA FOR CREDIT PROTECTION INSURANCE IN THE PROVINCE OF ALBERTA FOR EQUIPMENT WARRANTY INSURANCE IN THE PROVINCE OF ALBERTA FOR FIDELITY INSURANCE IN THE PROVINCE OF ALBERTA FOR HAIL INSURANCE IN THE PROVINCE OF ALBERTA FOR HOME WARRANTY INSURANCE IN THE PROVINCE OF ALBERTA FOR LEGAL EXPENSE INSURANCE IN THE PROVINCE OF ALBERTA FOR LIABILITY INSURANCE IN THE PROVINCE OF ALBERTA FOR LIFE INSURANCE DIRECT PREMIUMS WRITTEN IN THE PROVINCE OF ALBERTA FOR 2016 (in $000s) LIFE INSURANCE DIRECT CLAIMS, ANNUITIES, DIVIDENDS IN THE PROVINCE OF ALBERTA FOR MARINE INSURANCE IN THE PROVINCE OF ALBERTA FOR MORTGAGE INSURANCE IN THE PROVINCE OF ALBERTA FOR PROPERTY INSURANCE IN THE PROVINCE OF ALBERTA FOR PROPERTY INSURANCE CONTINUED SURETY INSURANCE IN THE PROVINCE OF ALBERTA FOR TITLE INSURANCE IN THE PROVINCE OF ALBERTA FOR GLOSSARY This page is intentionally left blank SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 1

4 OVERVIEW Pursuant to section 799(2) of the Insurance Act, this is the 104 th Annual Report of the Superintendent of Insurance, which shows the insurance business transacted in Alberta for the year ending December 31, The following is a summary of the business transacted in Alberta during 2016: (in Thousands) Life 1 $6,420,622 General $9,469,516 Total $15,890,138 and Disbursements Life 2 $ 3,975,665 General $ 10,793,367 Total and Disbursements $ 14,769,032 Insurers Licensed There were 247 insurance entities licensed on December 31, Business Type Alberta Extra Provincial Federal 3 Total Property and Casualty Insurance Companies Life Insurance Companies Fraternal Societies Reciprocal Insurance Exchanges Total The Superintendent recovers all costs of regulation from industry on an annual basis. In 2016, we collected $1,949,641 through the Recovery of Administration Costs Regulation. 1 Life premiums include annuities and accident and sickness. 2 Life claims and disbursements include annuities and accident and sickness. 3 Includes branch operations of foreign insurers. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 2

5 Superintendent Notices, Guidelines, and Interpretation Bulletins Pursuant to section of the Act, the Superintendent issues notices, guidelines and interpretation bulletins to clarify expectations with respect to interpretation and application of the Act and regulations. In 2016, the Superintendent issued seven notices and interpretation bulletins on a variety of topics including Using the Statutory Dispute Resolution Process on Diminished Value, an Alberta Standard Automobile Insurance Policy Form Transportation Network S.P.F No 9, Private Passenger Usage Based Insurance Approval Process and Insurer Legislation Compliance. Additional information can be found on our website at: Superintendent of Insurance Bulletins and Notices. Market Conduct Activities As part of a risk-based approach to the supervision of the insurance industry in Alberta, the Superintendent investigates consumer complaints, allegations of misconduct on the part of insurers, unfair acts or practices taken against consumers and occurrences of non-compliance with the Act and its attendant regulations. Upon the completion of an investigation, the Superintendent, pursuant to the provisions of the Act and the Enforcement and Administration Regulation, determines if further regulatory action is warranted. Regulatory action includes but is not limited to the assessment of administrative penalties. In 2016, the Superintendent assessed eleven administrative penalties totaling $1,220,000. Additional details can be found on our website at Enforcement Activities. Certified Examiner Selection In the event of a disagreement between a claimant and an insurance company as to whether or not an injury arising from a motor vehicle accident is a minor injury, or if a minor injury has caused a serious impairment, the Certified Examiner (CE) process is mandated under the Minor Injury Regulation to resolve the dispute. Under this process either party may apply to the Superintendent of Insurance to appoint a physician from the CE Register to assess the patient and determine if the injury is minor or not. The appointment of CEs began in 2005 and has averaged 156 per year for the last five years. See chart for number of CE applications processed by the Certified Examiner process. For further information on the Certified Examiner process, the Certified Examiner Register or application forms for the appointment of a Certified Examiner please refer to our website, at Number of CE Applications Processed by the CE Process Certified Examiners Selected SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 3

6 Comparative Summary of and by Class of Insurance in Alberta During 2016 Class Including Adjustment Expenses Ratio (%) Year Accident & Sickness 2,839,405 1,670, Aircraft 38,070 18, Automobile 4,422,234 3,837, Boiler & Machinery 70,961 49, Credit 3,581 4, Credit Protection 27,368 10, Equipment 1 Warranty 60,464 17, Fidelity 11,218 8, Hail 41,219 53, Home Warranty 2 6, Legal Expense 3,800 1, Liability 947, , Life 3,581,217 2,305, Marine 45,283 9, Mortgage 195,527 76, Property 3,485,573 6,121, Surety 89,596 17, Title 21,178 4, Source: The information in this table was obtained from the 2016 annual filings filed with Alberta for provincial and extra provincial insurers and information filed with the Office of the Superintendent of Financial Institutions for federal insurers. 1 Equipment Warranty was included in Boiler and Machinery prior to Home Warranty is also included in Property SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 4

7 Provincial Insurer Financial Results The Superintendent publishes select financial data for Alberta incorporated insurance companies. The data is reported as provided by the insurers in their quarterly reporting to the Superintendent. It can be found on our website at: Financial Data for Alberta Incorporated Insurance Companies. Insurance Companies Operating in Alberta The Superintendent maintains a list of Insurance Companies, Reciprocal Insurance Exchanges and Fraternal Societies licensed to operate in Alberta. This list, Insurers, Reciprocal Insurance Exchanges, and Fraternal Benefit Societies Licensed in Alberta, can be found on our website. The list includes the insurance classes, attorney for service (person delegated to accept service of legal papers), and contact information for the Complaint Liaison Officer/ombudsperson. The Superintendent also maintains a list of insurers, Reciprocal Insurance Exchanges and Fraternal Societies that have withdrawn, amalgamated or changed their names, and includes the name of the entity and the historical information on why they no longer operate in Alberta. This list can be found on our website, the listing is called Insurer, Reciprocal Insurance Exchanges, and Fraternal Societies No Longer Licensed in Alberta. ABSTRACT OF RETURNS DISCLAIMER the following information was obtained from the 2016 annual filings filed with Alberta for provincial and extra provincial insurers and information filed with the Office of the Superintendent of Financial Institutions for federal insurers. While every effort has been made to ensure the accuracy of this report, decisions should not be made solely on the information herein contained. You will notice in many of the tables (on the following pages) that there s an asterisks (*) next to the words Ratio see below for a clarification of the term Ratio. *CLAIMS RATIO: A ratio of total direct claims and adjustment expense incurred to total direct premiums written in Alberta. This ratio does not take into consideration changes in unearned premiums and reinsurance as these amounts are not allocated by Province. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 5

8 ACCIDENT AND SICKNESS INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Actra Fraternal Benefit Society % Aetna Life Insurance % AIG Insurance of Canada 6, % Alberta Motor Association Insurance 1, % Allianz Global Risks US Insurance 2, % Allianz Life Insurance of North America % Allstate Insurance of Canada % American Bankers Insurance of Florida 33,848 2, % American Bankers Life Assurance of Florida 13,900 4, % American Income Life Insurance 2, % Assumption Mutual Life Insurance % Aviva Insurance of Canada % Berkley Insurance 3, % Blue Cross Life Insurance of Canada 34,975 20, % BMO Life Assurance 7,385 1, % BMO Life Insurance 4, % Canadian Premier Life Insurance 22,338 2, % Canassurance Insurance % Chubb Insurance of Canada 1, % Chubb Life Insurance of Canada 23,501 6, % CIBC Life Insurance Limited 8,597 1, % CIGNA Life Insurance of Canada 4,372 2, % Combined Insurance of America 22,194 8, % Continental Casualty 0 12 N/A Co-operators General Insurance % Co-operators Life Insurance 49,388 27, % Cumis General Insurance 16,563 7, % Cumis Life Insurance 10,550 2, % Desjardins Financial Security Life Assurance 145, , % Echelon Insurance N/A Everest Insurance of Canada % FaithLife Financial % Fenchurch General Insurance 1,638 1, % First Canadian Insurance Corporation / La Corporation d'assurance First Canadian 34,811 5, % Foresters Life Insurance 880-1, % GMS Insurance Inc. 6,669 3, % Green Shield Canada 64,502 54, % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 6

9 ACCIDENT AND SICKNESS INSURANCE CONTINUED Name of Licensed Insurance Humania Assurance Inc % Industrial Alliance Insurance and Financial Services Inc. 86,724 49, % International Insurance of Hannover SE % ivari % Knights of Columbus % La Capitale Financial Security Insurance 12,381 10, % La Capitale Insurance and Financial Services Inc. 12,780 8, % Legacy General Insurance % Liberty Life Assurance of Boston 0 47 N/A Life Insurance of North America 3, % Lloyd's Underwriters 10,425 5, % LS-Travel, Insurance 1, % National Bank Life Insurance % Old Republic Insurance of Canada 1, % Orion Travel Insurance 11,534 5, % Pavonia Life Insurance of Michigan % PBC Health Benefits Society 1,895 1, % Primerica Life Insurance of Canada % RBC Insurance of Canada 18,326 9, % RBC Life Insurance 88,420 54, % Reliable Life Insurance % Royal & Sun Alliance Insurance of Canada 17, % Scotia Life Insurance 9,198 1, % SSQ Insurance Inc. 7,943 5, % SSQ Life Insurance Inc. 59,938 40, % Sun Life Assurance of Canada 568, , % TD Life Insurance 14,369 2, % The Canada Life Assurance 135,855 13, % The Empire Life Insurance 31,386 22, % The Equitable Life Insurance of Canada 67,355 47, % The Excellence Life Insurance 3, % The Great-West Life Assurance 625, , % The Guarantee of North America % The Independent Order of Foresters % The Manufacturers Life Insurance 490, , % The Order of United Commercial Travelers of America % The Union Life Mutual Assurance % The Wawanesa Life Insurance 4,374 3, % Trans Global Life Insurance % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 7

10 ACCIDENT AND SICKNESS INSURANCE CONTINUED Name of Licensed Insurance Trisura Guarantee Insurance % Triton Insurance 4,152 1, % Western Life Assurance 17,507 9, % Zurich Insurance Ltd % Totals and Average Claim Ratios 2,839,405 1,670, % *CLAIMS RATIO: See page 7 for definition. AIRCRAFT INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance AIG Insurance of Canada 3,095 3, % Allianz Global Risks US Insurance 5,987 3, % Aspen Insurance U.K. Limited N/A Berkley Insurance % Canadian Applicators Insurance Reciprocal % Chubb Insurance of Canada % Intact Insurance % International Insurance of Hannover SE % Liberty Mutual Insurance % Lloyd's Underwriters 15,251 6, % Mitsui Sumitomo Insurance, Limited % National Liability & Fire Insurance 1,679 1, % Northbridge General Insurance Corporation 1, % Old Republic Insurance of Canada % Royal & Sun Alliance Insurance of Canada 0 16 N/A Starr Insurance & Reinsurance Limited % Temple Insurance 2, % The Sumitomo Marine and Fire Insurance Limited % Westport Insurance Corporation 3, % XL Specialty Insurance 907 1, % Totals and Average Claim Ratios 38,070 18, % *CLAIMS RATIO: See page 7 for definition. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 8

11 AUTOMOBILE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance AIG Insurance of Canada 10,784 14, % Alberta Motor Association Insurance 200, , % Alberta Municipal Insurance Exchange 1, % Allianz Global Risks US Insurance 87-1,146-1,317.24% Allstate Insurance of Canada 102,774 71, % American Road Insurance 2,523 5, % Arch Insurance Canada Ltd % Ascentus Insurance Ltd. 0 2 N/A Aviva General Insurance 77,359 61, % Aviva Insurance of Canada 260, , % Belair Insurance Inc. 68,057 42, % Canadian Direct Insurance Incorporated 3,921 31, % Canadian Farm Insurance Corp. 4,860 2, % Canadian Northern Shield Insurance % Certas Direct Insurance 22,155 26, % Certas Home and Auto Insurance 166, , % Chubb Insurance of Canada 18,849 15, % Continental Casualty 11,007 6, % Co-operators General Insurance 323, , % CorePointe Insurance N/A Coseco Insurance 24,336 22, % Cumis General Insurance 4,236 3, % Echelon Insurance 12,787 10, % Economical Mutual Insurance 155, , % Electric Insurance % Elite Insurance 17,839 9, % Everest Insurance of Canada % Federal Insurance % Federated Insurance of Canada 22,176 17, % Fortress Insurance % Great American Insurance % Hartford Fire Insurance % Intact Insurance 766, , % Jevco Insurance 0 1,984 N/A Liberty Mutual Insurance 7,059 3, % Lloyd's Underwriters 9,486 6, % Mennonite Mutual Insurance Co. (Alberta) Ltd % Millennium Insurance Corporation / La Corporation d Assurance Millennium 19,655 18, % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 9

12 AUTOMOBILE INSURANCE CONTINUED Name of Licensed Insurance Mitsui Sumitomo Insurance, Limited % Motors Insurance Corporation 0 43 N/A Northbridge Commercial Insurance Corporation 29,537 20, % Northbridge General Insurance Corporation 50,135 31, % Northbridge Personal Insurance Corporation 1, % Novex Insurance 78,927 66, % Old Republic Insurance of Canada 6,697 5, % Optimum West Insurance Inc. 3,235 1, % Peace Hills General Insurance 75,874 54, % Pembridge Insurance 12,418 8, % Perth Insurance 0-1 N/A Primmum Insurance 131, , % Protective Insurance % RBC Insurance of Canada , % Royal & Sun Alliance Insurance of Canada 73,479 55, % Saskatchewan Mutual Insurance % Scottish & York Insurance Co. Limited 0-20 N/A Security National Insurance 533, , % Sentry Insurance A Mutual % SGI CANADA Insurance Services Ltd. 66,552 47, % Sonnet Insurance % St. Paul Fire and Marine Insurance 7,225-6, % TD Home and Auto Insurance 14,849 14, % The Dominion of Canada General Insurance 77,704 65, % The Guarantee of North America 5,208 3, % The Missisquoi Insurance % The Nordic Insurance of Canada N/A The Personal Insurance 109, , % The Portage La Prairie Mutual Insurance 19,176 17, % The Sovereign General Insurance 16,938 12, % The Sumitomo Marine and Fire Insurance Limited % The Wawanesa Mutual Insurance 544, , % Tokio Marine & Nichido Fire Insurance Co., Ltd % Traders General Insurance 46,960 36, % Travelers Insurance of Canada 5,829 2, % Unica Insurance Inc N/A Unifund Assurance 157, , % Waterloo Insurance 16,414 14, % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 10

13 AUTOMOBILE INSURANCE CONTINUED Name of Licensed Insurance XL Specialty Insurance % Zenith Insurance 1, % Zurich Insurance Ltd 16,606 24, % Totals and Average Claim Ratios 4,422,234 3,837, % *CLAIMS RATIO: See page 7 for definition. BOILER AND MACHINERY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Affiliated F.M. Insurance % AIG Insurance of Canada 5,555 1, % Allianz Global Risks US Insurance 2,036-1, % Aviva Insurance of Canada 5, % AXIS Reinsurance (Canadian Branch) 0 5 N/A Berkley Insurance % Canadian Northern Shield Insurance % Certas Home and Auto Insurance N/A Chubb Insurance of Canada 1, % Continental Casualty % Co-operators General Insurance 1, % Cumis General Insurance % Ecclesiastical Insurance Office Public Limited % Economical Mutual Insurance 1, % Everest Insurance of Canada % Factory Mutual Insurance 7,559 14, % Federated Insurance of Canada % Gore Mutual Insurance % Great American Insurance % Intact Insurance 4, % Liberty Mutual Insurance 0 3 N/A Lloyd's Underwriters 14,126 18, % Millennium Insurance Corporation / La Corporation d Assurance Millennium % Mitsui Sumitomo Insurance, Limited % National Liability & Fire Insurance % Northbridge General Insurance Corporation % Novex Insurance % Optimum West Insurance Inc % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 11

14 BOILER AND MACHINERY INSURANCE CONTINUED Name of Licensed Insurance Royal & Sun Alliance Insurance of Canada 9,685 7, % Saskatchewan Mutual Insurance % SGI CANADA Insurance Services Ltd % St. Paul Fire and Marine Insurance % Temple Insurance 1, % The Boiler Inspection and Insurance of Canada 3,781 1, % The Dominion of Canada General Insurance % The Guarantee of North America % The Mutual Fire Insurance of British Columbia % The Sovereign General Insurance % The Sumitomo Marine and Fire Insurance Limited % The Wawanesa Mutual Insurance 4, % Tokio Marine & Nichido Fire Insurance Co., Ltd % Travelers Insurance of Canada % Westport Insurance Corporation N/A Wynward Insurance Group % XL Specialty Insurance 0 58 N/A Zurich Insurance Ltd 1,290 3, % Totals and Average Claim Ratios 70,961 49, % *CLAIMS RATIO: See page 7 for definition. CREDIT INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance AIG Insurance of Canada 715 3, % Allied World Specialty Insurance % Compagnie Francaise d'assurance pour le Commerce Exterieur % Euler Hermes North America Insurance 1, % Lloyd's Underwriters % The Guarantee of North America % Totals and Average Claim Ratios 3,581 4, % *CLAIMS RATIO: See page 7 for definition. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 12

15 CREDIT PROTECTION INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance American Bankers Insurance of Florida 26,054 10, % Arch Insurance Canada Ltd % Legacy General Insurance % Millennium Insurance Corporation / La Corporation d Assurance Millennium % Trisura Guarantee Insurance % Totals and Average Claim Ratios 27,371 10, % *CLAIMS RATIO: See page 7 for definition. EQUIPMENT WARRANTY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Fenchurch General Insurance 3, % First North American Insurance % Industrial Alliance Pacific General Insurance 14,258 2, % Corporation Lloyd's Underwriters 1, % Millennium Insurance Corporation / La Corporation 33,621 10, % d Assurance Millennium Motors Insurance Corporation 4,194 1, % Trisura Guarantee Insurance 3, % Virginia Surety, Inc % Totals and Average Claim Ratios 60,464 17, % *CLAIMS RATIO: See page 7 for definition. FIDELITY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance AIG Insurance of Canada 867 6, % Arch Insurance Canada Ltd % Aviva Insurance of Canada % AXIS Reinsurance (Canadian Branch) % Berkley Insurance % Certas Home and Auto Insurance % Chubb Insurance of Canada 1, % Continental Casualty % Co-operators General Insurance % Cumis General Insurance 1,522 1, % Economical Mutual Insurance % Federated Insurance of Canada % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 13

16 FIDELITY INSURANCE CONTINUED Name of Licensed Insurance Great American Insurance % Liberty Mutual Insurance % Lloyd's Underwriters % Mitsui Sumitomo Insurance, Limited % Northbridge General Insurance Corporation % Optimum West Insurance Inc % Royal & Sun Alliance Insurance of Canada % Saskatchewan Mutual Insurance % SGI CANADA Insurance Services Ltd % St. Paul Fire and Marine Insurance % The Dominion of Canada General Insurance % The Guarantee of North America 2, % The Personal Insurance % The Sovereign General Insurance % The Sumitomo Marine and Fire Insurance Limited % Travelers Insurance of Canada 1, % Trisura Guarantee Insurance % Triton Insurance % Western Surety % Zurich Insurance Ltd % Totals and Average Claim Ratios 11,218 8, % *CLAIMS RATIO: See page 7 for definition. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 14

17 HAIL INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Additional Municipal Hail Limited % Allianz Global Risks US Insurance 8,360 24, % Chubb Insurance of Canada 1,728 1, % Northbridge General Insurance Corporation 4,275 4, % Palliser Insurance Limited 26,195 22, % Totals and Average Claim Ratios 41,219 53, % *CLAIMS RATIO: See page 7 for definition. HOME WARRANTY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Echelon Insurance -5, % Lloyd's Underwriters 0 27 N/A Millennium Insurance Corporation / La Corporation d Assurance Millennium % Royal & Sun Alliance Insurance of Canada % The New Home Warranty Insurance (Canada) Corporation 9, % Travelers Insurance of Canada 1, % Totals and Average Claim Ratios 6, % *CLAIMS RATIO: See page 7 for definition. ** Home Warranty and figures are also included in the Property Class of Insurance. This information is provided for enhanced disclosure only. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 15

18 LEGAL EXPENSE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Belair Insurance Inc % Co-operators General Insurance % DAS Legal Protection Insurance Limited 2, % Echelon Insurance % Intact Insurance % Lloyd's Underwriters % Novex Insurance % The Guarantee of North America % Totals and Average Claim Ratios 3,800 1, % *CLAIMS RATIO: See page 7 for definition. LIABILITY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance AIG Insurance of Canada 66,671 12, % Alberta Lawyers Insurance Exchange 4,100 4, % Alberta Municipal Insurance Exchange 7,195 3, % Alberta Roofing Contractors Reciprocal Insurance Exchange % Alberta School Boards Insurance Exchange 2, % Allianz Global Risks US Insurance 9,462 1, % Allied World Specialty Insurance % Arch Insurance Canada Ltd. 4,958 1, % Aspen Insurance U.K. Limited 795-7, % Associated Electric & Gas Insurance Services Limited 5,834-3, % Aviva Insurance of Canada 47,153 25, % AXIS Reinsurance (Canadian Branch) 9,496 4, % Belair Insurance Inc % Berkley Insurance 7, % Canadian Direct Insurance Incorporated N/A Canadian Lawyers Insurance Association 1,351 4, % Canadian Lawyers Liability Assurance Society 1, % Canadian Northern Shield Insurance % Canadian Universities Reciprocal Insurance Exchange 1, % Canassurance Insurance % Certas Home and Auto Insurance 4, % Chubb Insurance of Canada 54,155 61, % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 16

19 LIABILITY INSURANCE CONTINUED Name of Licensed Insurance Community Newspapers Reciprocal Insurance Exchange % Continental Casualty 15, % Co-operators General Insurance 53,876 16, % Coseco Insurance % Cumis General Insurance 1, % Ecclesiastical Insurance Office Public Limited 3, % Echelon Insurance % Economical Mutual Insurance 16,359 3, % Electric Insurance 1, % Employers Insurance of Wausau 0 1 N/A Energy Insurance Group -13-4,222 N/A Everest Insurance of Canada 5,965 3, % Federal Insurance 0-13 N/A Federated Insurance of Canada 13,464 2, % FedGas Insurance Reciprocal Exchange % Genesis Reciprocal Insurance Exchange 5,125 3, % Gore Mutual Insurance 1, % Great American Insurance 4, % Hartford Fire Insurance 751 1, % HDI Global SE Canada Branch 2,193 1, % Healthcare Insurance Reciprocal of Canada 2,113 2, % Intact Insurance 80,040 33, % International Insurance of Hannover SE 2, % Ironshore Insurance Ltd. 4,780 2, % Jevco Insurance N/A Jewelers Mutual Insurance % La Capitale General Insurance Inc % Liberty Mutual Insurance 26,228 17, % Lloyd's Underwriters 217, , % MAX Canada Insurance % Mennonite Mutual Insurance Co. (Alberta) Ltd % Millennium Insurance Corporation / La Corporation d Assurance Millennium % Mitsui Sumitomo Insurance, Limited 1, % National Liability & Fire Insurance 4,560 7, % Northbridge Commercial Insurance Corporation % Northbridge General Insurance Corporation 25,494 6, % Northbridge Personal Insurance Corporation 1-3,179 N/A Novex Insurance % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 17

20 LIABILITY INSURANCE CONTINUED Name of Licensed Insurance Old Republic Insurance of Canada % Omega General Insurance % Optimum West Insurance Inc % Primmum Insurance % Provincial Health Authorities of Alberta Liability and Property Insurance Plan 23,025 25, % Real Estate Insurance Exchange 3,620 2, % Red River Valley Mutual Insurance % Royal & Sun Alliance Insurance of Canada 25,321 9, % Saskatchewan Mutual Insurance 2,578 2, % SCOR Insurance - Canadian Branch 1, % Scottish & York Insurance Co. Limited N/A Security National Insurance 5,350 3, % Sentry Insurance A Mutual % SGI CANADA Insurance Services Ltd. 8,350 2, % Sompo Japan Nipponkoa Insurance Inc % Sonnet Insurance % St. Paul Fire and Marine Insurance 6,895-8, % Starr Insurance & Reinsurance Limited 1, % T.H.E. Insurance % TD Home and Auto Insurance 5,006 2, % Temple Insurance 10,679 4, % The Dominion of Canada General Insurance 9,783-15, % The Guarantee of North America 2,405 1, % The Mutual Fire Insurance of British Columbia % The Nordic Insurance of Canada 0-3,241 N/A The Personal Insurance % The Portage La Prairie Mutual Insurance 852 1, % The Sovereign General Insurance 15,840 2, % The Sumitomo Marine and Fire Insurance Limited 1, % The Wawanesa Mutual Insurance 13,941 3, % Tokio Marine & Nichido Fire Insurance Co., Ltd % Travelers Insurance of Canada 9,348 3, % Trisura Guarantee Insurance 4,963 1, % Unica Insurance Inc % Urban School Insurance Consortium Reciprocal (USIC) 0 1, % Waterloo Insurance % Westport Insurance Corporation 8, % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 18

21 LIABILITY INSURANCE CONTINUED Name of Licensed Insurance Wynward Insurance Group 4, % XL Reinsurance America Inc. 2,791 1, % XL Specialty Insurance 13,801 7, % Zenith Insurance % Zurich Insurance Ltd 41,119 12, % Totals and Average Claim Ratios 947, , % *CLAIMS RATIO: See page 7 for definition. LIFE INSURANCE DIRECT PREMIUMS WRITTEN IN THE PROVINCE OF ALBERTA FOR 2016 (in $000s) Name of Licensed Insurance Insurance Consideration for Annuities Individual Group Total Individual Group Total Grand Total Actra Fraternal Benefit Society Aetna Life Insurance Allianz Life Insurance of North America American Bankers Life Assurance of Florida American Health and Life Insurance American Income Life Insurance Assumption Mutual Life Insurance ,061 45, , ,066 2, ,067 16, , ,417 3, ,013 1, ,397 5,410 Assurant Life of Canada 282 1,862 2, ,950 24,708 26,852 Blue Cross Life Insurance of Canada BMO Life Assurance BMO Life Insurance Canadian Premier Life Insurance Chubb Life Insurance of Canada ,415 12, ,566 46, ,930 4,412 6,703 11,115 58, ,266 1, , ,126 20, , ,185 12, ,712 SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 19

22 LIFE INSURANCE DIRECT PREMIUMS CONTINUED (In $000s) Name of Licensed Insurance Insurance Consideration for Annuities Individual Group Total Individual Group Total Grand Total CIBC Life Insurance Limited Combined Insurance of America Connecticut General Life Insurance Co-operators Life Insurance 55,942 6,906 62,848 2, ,403 65,251 Croatian Fraternal Union of America Cumis Life Insurance 2,468 20,305 22, ,773 Desjardins Financial Security Life Assurance 32,796 21,807 54,603 6,427 1,421 7,848 62,451 FaithLife Financial 3, , ,054 First Canadian Insurance Corporation / La Corporation d'assurance 0 29,082 29, ,082 First Canadian Foresters Life Insurance 8,234 1,014 9, ,687 Gerber Life Insurance Humania Assurance Inc Industrial Alliance Insurance and Financial Services Inc. 158,811 14, , ,528 37, , ,953 ivari 135, , ,846 Knights of Columbus 27, , ,675 La Capitale Financial Security Insurance 1, , ,204 La Capitale Insurance and Financial Services 1,481 1,683 3,164 2, ,401 5,565 Inc. Life Insurance of North America 0 1,988 1, ,988 London Life Insurance 214, ,946 3,691 45,272 48, ,909 Manulife Assurance of Canada National Bank Life Insurance SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 20

23 LIFE INSURANCE DIRECT PREMIUMS CONTINUED (In $000s) Name of Licensed Insurance New York Life Insurance Pavonia Life Insurance of Michigan Primerica Life Insurance of Canada RBC Life Insurance Reliable Life Insurance Scotia Life Insurance Sons of Scotland Benevolent Association SSQ Insurance Inc. SSQ Life Insurance Inc. Sun Life Assurance of Canada TD Life Insurance The Canada Life Assurance The Empire Life Insurance The Equitable Life Insurance of Canada The Excellence Life Insurance The Grand Orange Lodge of British America Benefit Fund Insurance Individual Group Total Consideration for Annuities Individu al Group Total Grand Total ,105 1, ,128 45, , ,531 92,068 1,558 93,626 4,124 4,124 97, ,575 2, , ,785 8,502 15, , ,704 11,705 1, ,773 13, , , ,545 56, , , ,197 2, , , , , ,855 7, , ,053 30,020 3,136 33,156 9, ,382 43,538 78,196 7,987 86,183 10, ,013 97, SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 21

24 LIFE INSURANCE DIRECT PREMIUMS CONTINUED (In $000s) Name of Licensed Insurance Insurance Individual Group Total Consideration for Annuities Individu al Group Total Grand Total The Great-West Life Assurance 82, , ,042 9,971 1,763 11, ,776 The Independent Order of Foresters 4, , ,435 The Manufacturers Life Insurance 327, , ,837 19,214 59,085 78, ,136 The Order of United Commercial Travelers of America The Union Life Mutual Assurance The Wawanesa Life Insurance 16,273 1,071 17,344 11, ,933 29,277 Trans Global Life Insurance Ukrainian Fraternal Society of Canada United American Insurance Western Life Assurance 11,615 12,569 24, ,184 Totals 2,060, ,907 2,966, , , ,810 3,581,217 SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 22

25 LIFE INSURANCE DIRECT CLAIMS, ANNUITIES, DIVIDENDS IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Death Dividends Annuity Grand Total Actra Fraternal Benefit Society Aetna Life Insurance Allianz Life Insurance of North America American Bankers Life Assurance 4, ,069 of Florida American Health and Life Insurance American Income Life Insurance 3, ,185 Assumption Mutual Life Insurance ,320 2,038 Assurant Life of Canada 3, ,501 9,635 AXA Equitable Life Insurance Blue Cross Life Insurance of 7, ,393 Canada BMO Life Assurance 21, ,298 30,494 BMO Life Insurance Canadian Premier Life Insurance 2, ,565 Chubb Life Insurance of Canada CIBC Life Insurance Limited Combined Insurance of America Connecticut General Life Insurance Co-operators Life Insurance 26, ,434 31,244 Croatian Fraternal Union of America Cumis Life Insurance 7,751 3, ,364 Desjardins Financial Security Life Assurance 29,423 1,849 16,210 47,482 FaithLife Financial 3, ,791 First Canadian Insurance Corporation / La 3, ,078 Corporation d'assurance First Canadian Foresters Life Insurance 5, ,118 10,083 Gerber Life Insurance Humania Assurance Inc SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 23

26 LIFE INSURANCE DIRECT CLAIMS, ANNUITIES, DIVIDENDS, CONTINUED Name of Licensed Insurance Death Dividends Annuity Grand Total Industrial Alliance Insurance and Financial 55,170 1, , ,396 Services Inc. ivari 67, ,249 69,415 Jackson National Life Insurance Knights of Columbus 9,007 4,120 1,057 14,184 La Capitale Financial Security Insurance 1, ,044 La Capitale Insurance and Financial Services 1, ,159 2,273 Inc. Life Insurance of North America London Life Insurance 87,437 64,375 73, ,745 Manulife Assurance of Canada 0 0 1,112 1,112 National Bank Life Insurance New York Life Insurance Pavonia Life Insurance of Michigan Primerica Life Insurance of 19, ,924 Canada RBC Life Insurance 52, ,862 Reliable Life Insurance Scotia Life Insurance Sons of Scotland Benevolent Association SSQ Insurance Inc. 4, ,130 SSQ Life Insurance Inc. 6, ,418 Sun Life Assurance of Canada 263,350 73, , ,179 TD Life Insurance 1, ,250 The Canada Life Assurance 88,052 36,295 39, ,814 The Empire Life Insurance 13,963 1,704 13,987 29,654 The Equitable Life Insurance of 26,975 3,453 8,216 38,644 Canada The Grand Orange Lodge of British America Benefit Fund The Great-West Life Assurance 145,737 12,370 30, ,689 The Independent Order of Foresters 3,126 1, ,990 The Manufacturers Life Insurance 244,484 21, , ,455 The Order of United Commercial Travelers of America The Union Life Mutual Assurance The Wawanesa Life Insurance 5, ,648 18,246 Trans Global Life Insurance Ukrainian Fraternal Society of Canada Western Life Assurance 4, ,232 Totals 1,223, , ,693 2,305,075 SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 24

27 MARINE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance AIG Insurance of Canada 16,195-2, % Allianz Global Risks US Insurance 1, % Associated Electric & Gas Insurance Services Limited % Aviva Insurance of Canada % Berkley Insurance % Certas Home and Auto Insurance % Chubb Insurance of Canada % Continental Casualty 1,216 2, % Co-operators General Insurance 2,172 1, % Elite Insurance 6,921 3, % Great American Insurance % HDI Global SE Canada Branch % Intact Insurance 1, % International Insurance of Hannover SE 2, % Liberty Mutual Insurance % Lloyd's Underwriters 4, % National Liability & Fire Insurance % Northbridge General Insurance Corporation % Royal & Sun Alliance Insurance of Canada % SCOR Insurance - Canadian Branch % St. Paul Fire and Marine Insurance % Starr Insurance & Reinsurance Limited % Sunderland Marine Insurance Limited [Canada Branch] 1, % The Sovereign General Insurance 2,172 1, % Traders General Insurance % Travelers Insurance of Canada % Westport Insurance Corporation % XL Specialty Insurance % Zurich Insurance Ltd 1, % Totals and Average Claim Ratios 45,283 9, % *CLAIMS RATIO: See page 7 for definition. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 25

28 MORTGAGE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Canada Guaranty Mortgage Insurance 75,402 11, % FCT Insurance Ltd % Genworth Financial Mortgage Insurance Canada 119,356 64, % MIC Insurance Canada 0-13 N/A Totals and Average Claim Ratios 195,527 76, % *CLAIMS RATIO: See page 7 for definition. PROPERTY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Affiliated F.M. Insurance 5,874 6, % AIG Insurance of Canada 129, , % Alberta Motor Association Insurance 83, , % Alberta Municipal Insurance Exchange 9,559 6, % Alberta School Boards Insurance Exchange 2,923 2, % Allianz Global Risks US Insurance 21,624 66, % Allied World Specialty Insurance 2, % Allstate Insurance of Canada 53,151 54, % Arch Insurance Canada Ltd. 3,756 29, % American Bankers Insurance of Florida 22,947 10, % Aspen Insurance U.K. Limited 1,619 1, % Asset Protection Insurance Exchange 1, % Associated Electric & Gas Insurance Services Limited 2,220-1, % Automobile Dealers Insurance Exchange 999 3, % Aviva General Insurance 27,075 62, % Aviva Insurance of Canada 176, , % AXA Art Insurance Corporation % AXIS Reinsurance (Canadian Branch) 226 1, % Belair Insurance Inc. 25,429 24, % Berkley Insurance % Canadian Airports Reciprocal Insurance Exchange (CARIE) 1, % Canadian Direct Insurance Incorporated ,785 N/A Canadian Egg Industry Reciprocal Alliance (CEIRA) % Canadian Farm Insurance Corp. 4,698 2, % Canadian Northern Shield Insurance 769 1, % Canadian Universities Reciprocal Insurance Exchange 2, % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 26

29 PROPERTY INSURANCE CONTINUED Name of Licensed Insurance Canassurance Insurance % Certas Direct Insurance 4,213 9, % Certas Home and Auto Insurance 51,917 86, % Chubb Insurance of Canada 53,451 47, % Continental Casualty 22,430 25, % Co-operators General Insurance 280, , % Coseco Insurance 12,847 47, % Cumis General Insurance 11,290 7, % Ecclesiastical Insurance Office Public Limited 9,598 24, % Echelon Insurance 7,380 2, % Economical Mutual Insurance 93, , % Elite Insurance 41,089 53, % Energy Insurance Group -13-1,229 N/A Everest Insurance of Canada 6,198 20, % Factory Mutual Insurance 20,725 27, % Federal Insurance 5-75 N/A Federated Insurance of Canada 17,294 25, % FedGas Insurance Reciprocal Exchange % First North American Insurance 3, % Genesis Reciprocal Insurance Exchange 7, % GMS Insurance Inc % Gore Mutual Insurance 3,583 8, % Great American Insurance 5,954 3, % Hartford Fire Insurance 5,012 2, % HDI Global SE Canada Branch 6,621 4, % Healthcare Insurance Reciprocal of Canada % Industrial Alliance Pacific General Insurance Corporation % Intact Insurance 380, , % International Insurance of Hannover SE 9,496 12, % Ironshore Insurance Ltd. 5,951 2, % Jevco Insurance % Jewelers Mutual Insurance % La Capitale General Insurance Inc % Legacy General Insurance % Liberty Mutual Insurance 14,344 15, % Lloyd's Underwriters 195, , % MAX Canada Insurance 2,342 2, % Mennonite Mutual Insurance Co. (Alberta) Ltd. 9,772 4, % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 27

30 PROPERTY INSURANCE CONTINUED Name of Licensed Insurance Millennium Insurance Corporation / La Corporation d Assurance Millennium 41,190 23, % Mitsui Sumitomo Insurance, Limited 1,510 14, % National Liability & Fire Insurance 4,949 1, % Northbridge Commercial Insurance Corporation 2,892 1, % Northbridge General Insurance Corporation 68,813 78, % Northbridge Personal Insurance Corporation 1, % Novex Insurance 42, , % Old Republic Insurance of Canada % Omega General Insurance 17,949 12, % Optimum West Insurance Inc. 5,629 5, % Orion Travel Insurance 7,194 3, % Peace Hills General Insurance 81, , % Pembridge Insurance 10,262 13, % Poultry Insurance Exchange Reciprocal of Canada % Primmum Insurance 61, , % Provincial Health Authorities of Alberta Liability and Property Insurance Plan 2,847 4, % RBC Insurance of Canada 1,741 1, % Red River Valley Mutual Insurance 672 8,883 1,321.88% Royal & Sun Alliance Insurance of Canada 95, , % Saskatchewan Mutual Insurance 15,370 7, % SCOR Insurance - Canadian Branch 4, % Scottish & York Insurance Co. Limited % Security National Insurance 304, , % SGI CANADA Insurance Services Ltd. 48,747 33, % Sompo Japan Nipponkoa Insurance Inc % Sonnet Insurance % St. Paul Fire and Marine Insurance 9,429 39, % Starr Insurance & Reinsurance Limited 8,921 4, % T.H.E. Insurance % TD Home and Auto Insurance 13,860 14, % Temple Insurance 11,599 39, % The Boiler Inspection and Insurance of Canada % The Dominion of Canada General Insurance 54, , % The Guarantee of North America 8,263 18, % The Mutual Fire Insurance of British Columbia 11,829 19, % SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 28

31 PROPERTY INSURANCE CONTINUED Name of Licensed Insurance The New Home Warranty Insurance (Canada) Corporation 9, % The Nordic Insurance of Canada % The Personal Insurance 37,127 60, % The Portage La Prairie Mutual Insurance 19,813 10, % The Sovereign General Insurance 22,903 35, % The Sumitomo Marine and Fire Insurance Limited 1,510 14, % The Wawanesa Mutual Insurance 353, , % Tokio Marine & Nichido Fire Insurance Co., Ltd. 3,707 4, % Traders General Insurance 24, , % Trans Global Insurance 1, % Travelers Insurance of Canada 8,001 35, % Trisura Guarantee Insurance 526 1, % Triton Insurance 2,352 2, % Unica Insurance Inc % Unifund Assurance 73, , % Urban School Insurance Consortium Reciprocal (USIC) 3, % Virginia Surety, Inc % Waterloo Insurance 7,145 12, % Western Financial Insurance 9,777 5, % Westport Insurance Corporation 12,009 23, % Wynward Insurance Group 12,043 45, % XL Specialty Insurance 21,032 28, % Zenith Insurance 1, % Zurich Insurance Ltd 52, , % Totals and Average Claim Ratios 3,485,573 6,121, % *CLAIMS RATIO: See page 7 for definition. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 29

32 SURETY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance AIG Insurance of Canada % Aspen Insurance U.K. Limited % Aviva Insurance of Canada 7, % Berkley Insurance % Canadian Farm Insurance Corp % Certas Home and Auto Insurance % Chubb Insurance of Canada 4, % Continental Casualty 867 1, % Co-operators General Insurance 3,646 3, % CorePointe Insurance % Echelon Insurance % Economical Mutual Insurance % Federated Insurance of Canada % Fenchurch General Insurance % Hartford Fire Insurance % Industrial Alliance Pacific General Insurance % Corporation Intact Insurance 14,513 4, % La Capitale General Insurance Inc % Liberty Mutual Insurance 4, % Lloyd's Underwriters 5,811 1, % L'Unique General Insurance Inc N/A Northbridge General Insurance Corporation % Royal & Sun Alliance Insurance of Canada % SGI CANADA Insurance Services Ltd % St. Paul Fire and Marine Insurance % The Dominion of Canada General Insurance % The Guarantee of North America 9,580-3, % The Missisquoi Insurance % The Sovereign General Insurance 3,476 3, % Travelers Insurance of Canada 10,733 3, % Trisura Guarantee Insurance 6, % Unica Insurance Inc % Western Surety 6, % Wynward Insurance Group % XL Specialty Insurance % Zurich Insurance Ltd 7, % Totals and Average Claim Ratios 89,596 17, % *CLAIMS RATIO: See page 7 for definition. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 30

33 TITLE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 Name of Licensed Insurance Chicago Title Insurance 2, % FCT Insurance Ltd. 15,377 3, % First American Title Insurance % Lawyers' Professional Indemnity % Stewart Title Guaranty 2, % Totals and Average Claim Ratios 21,178 4, % *CLAIMS RATIO: See page 7 for definition. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 31

34 GLOSSARY A glossary has been provided to: define abbreviations used in this annual report; and define application and technical terms used in this annual report. Attorney for Service Including Adjustment Expenses Ratio Classes of Insurance Consideration for Annuities Extra Provincial Federal Fraternal Benefit Society Insurance Entities Provincial Reciprocal Insurance Exchange A person delegated to accept service of legal papers. All of the expenses related to the settlement of a claim and can include such costs an adjuster and legal fees in addition to the claim settlement amount. The ration of direct claims and adjustment expenses to the total direct premiums written. The insurer is presumed to have earned a profit on a particular class of insurance when the ratio is 70% or less. For a definition of any of the classes of insurance used in this annual report, please refer to the Classes of Insurance Regulation, located on our website. Inclusion of any annuities reported. An insurer that is formed by or incorporated under the laws of another province or territory. An insurer that has authorization from the Office of the Superintendent of Financial Institutions (OSFI). A body corporate that is a not for profit society, order or association formed for the purpose of making, with its members only, contracts of life, accident or sickness insurance in accordance with its institution, bylaws and rules and the Insurance Act. Insurance companies, reciprocal insurance exchanges and exempt entities. An insurer that is formed by or incorporated under the laws of the province of Alberta. A group of subscribers exchanging reciprocal contracts of indemnity or inter- insurance with each other through a principle attorney as defined in section 78(b) of the Insurance Act. NOTE: All premium and claims data presented on pages 6-32 of this report are based on the consolidated data reported on the provincial pages of the regulatory reporting provided by each insurer. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 32

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36 The Office of the Superintendent of Insurance is a branch of Financial Sector Regulation and Policy, a division of Alberta Treasury Board and Finance. SUPERINTENDENT OF INSURANCE 2016 ANNUAL BUSINESS REPORT 1