In Canada and abroad, financial and professional lines of business declined in 2023.
AM Best report finds private equity investments rose just 3.3 per cent in 2022.
Canada home to 21 companies with gross direct premiums exceeding USD $1-billion.
Minimum required contributions for 2023 expected to go up by three per cent from 2022.
Regulator’s quarterly report also shows slowed profitability.
Experts point to mark-to-market investment losses among factors affecting reinsurance industry.
Annuity yields improve compared to provincial bond yields, fuelling fiercely competitive market.