In its June 2023 issue, Insurance Journal measures the profitability of 10 Canadian P&C insurers. They are ranked according to their 2022 net income.
In addition, we unveil the financial results of 25 major P&C insurers in 2022, including the growth in their net income in 2022 compared with the previous year.
As the bottom of the table below indicates, net income for the entire industry totalled $8.3 billion in 2023, down almost 18 per cent on the previous year.
The return of claims experience to near pre-pandemic levels (e.g. those of 2019), largely explains this decline.
This article is a Magazine Supplement for the June issue of the Insurance Journal.
