Annual Report 2015-2016

Superintendent's Report on Insurance 2015

TABLE OF CONTENTS 

LETTER TO MINISTER OF FINANCE

 

The Honourable Charles Souza
Minister of Finance
7 Queen’s Park Crescent
Toronto ON M7A 1Y7


Dear Minister:


I am pleased to present the 137th annual report under section 36 of the Insurance Act
for the year ended December 31, 2015. 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 offices at 416-250-7250 or checking our
website at www.fsco.gov.on.ca.


News releases and warning notices containing other information of public interest are
made throughout the year. These announcements effectively 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, 

Signature of Brian Mills, Chief Executive Officer and Superintendent of Financial Services (Interim) 

Brian Mills

Chief Executive Officer and

Superintendent of Financial Services (Interim)

 

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SUMMARY FINANCIAL INFORMATION

Summary of Companies Licensed by Type of Business Activity

As of December 31, 2015

Analysis of 2015 total

 

Business TypeTotal 2015AdditionsWithdrawalsTotal OntarioExtra ProvincialFederal
Property & Casualty Companies201432024815139
Life Insurance Companies67116701354
Reinsurance Companies3513331131
Reciprocal Exchanges110011731
Fraternal Societies1501142012
Totals329683275832237

Notes:

1. Companies writing both property & casualty and life business are listed under Life in the above summary. Their financial 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 2015 records figures as of the end of the calendar year (December 31, 2015), based on the companies’ annual filings. The Financial Services Commission of Ontario Annual Report 2015-16 records figures as of the end of the fiscal year (March 31, 2016).

 

INSURER STATISTICS

To guage the level of competition, FSCO calculates how many companies represent 80 percent of the market for key products. These figures are based on individual companies rather than groups of affiliated companies.

 

2015 Property and Casualty Insurers

Number of companies representing 80% of the Ontario market share

 

2015 Property and Casualty Insurers, number of companies representing 80% of Ontario market share 

Description of 2015 Property and Casualty Insurers - Number of companies representing 80% of the Ontario market share image [New Window]

 

2015 Life Insurers

Number of companies representing 80% of the Ontario market share

2015 Life Insurers, number of companies representing 80% of the Ontario market share 

Description of 2015 Life Insurers - Number of companies representing 80% of the Ontario market share image [New Window]

 

Insurance is a $45 billion business in Ontario. In 2015, of the total premium dollar volume, 51.5 percent went to the property and casualty (including automobile) insurance industry, and 47.7 percent went to the life insurance industry. 

 

PREMIUM STATISTICS

2015 Direct Written Premium Volume in Ontario

Total $44,996 (in millions)

 

2015 Direct Premium Volume in Ontario 

Description of 2015 Direct Premium Volume in Ontario image [New Window]

 

P&C insurers received $23.2 billion in premiums in 2015. The split among automobile, property and liability insurance remained constant compared to 2014. 

 

 

2015 Property & Casualty Companies - Direct Written Premiums in Ontario

Total $23,155 (in millions)

 

2015 Property and Casualty Insurance Companies, Direct Written Premiums in Ontario 

Description of 2015 Property and Casualty Companies – Direct Written Premiums in Ontario image [New Window]

 

The broad pattern among life insurance companies likewise remained constant. Of the $21.5 billion spent on premiums to the life insurers, 47.3 percent went to the purchase of accident & sickness coverage, 36.2 percent to the purchase of individual and group life coverages (although group life coverage saw a significant drop) and 16.5 percent went to annuities.

 

 

2015 Life Companies - Direct Written Premiums in Ontario

Total $21,476 (in millions)

 

 

 

2015 Life Companies, Direct Written Premiums in Ontario 

 

Description of 2015 Life Companies – Direct Written Premiums in Ontario image [New Window]

 

 

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PROPERTY AND CASUALTY COMPANIES 

 

 ONTARIO BUSINESSTOTAL COMPANY
FINANCIAL SUMMARY
Year ended
December 31, 2015

(in thousands)
Direct Written Premiums

$
Direct Claims Incurred

$
Total Assets

$
Total
Liabilities

$
Excess of assets over liabilities

$
Claims Incurred to earned premium

%
Net Income/ Loss

$
ONTARIO
ALGOMA MUTUAL INSURANCE COMPANY8,9894,61819,01612,4016,61266%-232
AMHERST ISLAND MUTUAL INSURANCE COMPANY9643543,5398792,66012%208
AYR FARMERS’ MUTUAL INSURANCE COMPANY25,57313,52283,37936,07847,30159%2,468
BAY OF QUINTE MUTUAL INSURANCE CO.23,77316,09460,68826,80133,88758%962
BERTIE AND CLINTON MUTUAL INSURANCE COMPANY13,0372,70366,16025,07641,08439%2,133
BRANT MUTUAL INSURANCE COMPANY6,4594,66015,7459,4286,31771%-603
CAA INSURANCE COMPANY175,43584,098513,762366,516147,24653%23,387
CARADOC DELAWARE MUTUAL FIRE INSURANCE COMPANY2,0632,2829,1132,4516,66290%-665
CAYUGA MUTUAL INSURANCE COMPANY8,2705,81031,22614,56316,66378%-45
COACHMAN INSURANCE COMPANY64,50235,568239,216166,14873,06862%8,485
DUFFERIN MUTUAL INSURANCE COMPANY5,7932,29117,22510,4366,78951%38
DUMFRIES MUTUAL INSURANCE COMPANY14,0685,01359,36724,12035,24746%2,518
EDGE MUTUAL INSURANCE COMPANY123,45312,53866,69143,34223,34959%541
ERIE MUTUAL FIRE INSURANCE COMPANY6,4724,22426,3808,76417,61660%283
FENCHURCH GENERAL INSURANCE COMPANY12,0997,52827,68020,8796,80144%102
GERMANIA MUTUAL INSURANCE COMPANY18,37010,25949,50626,82422,68258%771
GRENVILLE MUTUAL INSURANCE COMPANY22,48518,31764,63128,82635,80575%-2651
HALWELL MUTUAL INSURANCE COMPANY19,0956,21859,01428,55730,45746%2,272
HAMILTON TOWNSHIP MUTUAL INSURANCE COMPANY23,5187,47265,48537,60927,87658%878
HAY MUTUAL INSURANCE COMPANY9,4145,30446,94512,67834,26752%1,131
HEARTLAND FARM MUTUAL INC.2100,65657,552214,929144,95969,97054%7,081
HOWARD MUTUAL INSURANCE COMPANY10,8475,31049,84017,28832,55253%1,237
HOWICK MUTUAL INSURANCE COMPANY18,32813,19642,57226,82315,74965%635
KENT & ESSEX MUTUAL INSURANCE COMPANY27,91814,90292,35946,32546,03456%2,405
L&A MUTUAL INSURANCE COMPANY9,3504,68019,17711,0958,08258%752
LAMBTON MUTUAL INSURANCE COMPANY19,10810,97166,14632,98733,15956%1,286
LAWYERS’ PROFESSIONAL INDEMNITY COMPANY127,62480,128702,982464,929238,05367%28,444
MARKHAM GENERAL INSURANCE COMPANY (IN LIQUIDATION)300000n/a0
MAX CANADA INSURANCE COMPANY4,7872,50925,54218,7756,76762%-477
MCKILLOP MUTUAL INSURANCE COMPANY9,2435,09924,95910,45714,49965%466
MIDDLESEX MUTUAL INSURANCE CO.10,2583,79842,16417,14525,01949%1,704
NORFOLK MUTUAL INSURANCE COMPANY8,4423,07823,76910,62713,14243%1,069
NORTH BLENHEIM MUTUAL INSURANCE COMPANY9,4194,41431,13911,22719,91243%1,408
NORTH KENT MUTUAL FIRE INSURANCE COMPANY8,1285,56238,34915,16923,18058%639
OXFORD MUTUAL INSURANCE COMPANY11,5605,73132,46814,07018,39855%572
PEEL MUTUAL INSURANCE COMPANY37,01821,565114,51169,17845,33357%2,983
PRO-DEMNITY INSURANCE COMPANY21,24611,40587,17059,54127,62985%262
SOUTH EASTHOPE MUTUAL INSURANCE COMPANY15,1287,65759,39425,69733,69754%1,006
THE COMMONWELL MUTUAL INSURANCE GROUP130,84280,962413,257220,380192,87756%11,143
THE WEST WAWANOSH MUTUAL INSURANCE COMPANY15,17510,60449,50721,84927,65862%227
THE WESTMINSTER MUTUAL INSURANCE COMPANY8,7714,93323,47814,7028,77656%581
TOWN & COUNTRY MUTUAL INSURANCE COMPANY13,0938,74545,36825,26120,10755%1,256
TOWNSEND MUTUAL FIRE INSURANCE COMPANY8,9917,25822,88013,0819,79971%-180
TRADITION MUTUAL INSURANCE COMPANY13,3203,43242,43018,24124,18038%2,194
TRILLIUM MUTUAL INSURANCE COMPANY44,99820,609114,20258,76155,44146%4,466
TTC INSURANCE COMPANY LIMITED400185,114185,014100n/a0
USBORNE AND HIBBERT MUTUAL FIRE INSURANCE COMPANY6,8233,09841,1377,27333,86444%872
WABISA MUTUAL INSURANCE COMPANY6,6504,74024,25715,2159,04265%40
WEST ELGIN MUTUAL INSURANCE COMPANY12,0273,80744,16219,13825,02453%726
YARMOUTH MUTUAL INSURANCE COMPANY9,2786,81026,68715,73710,95066%77
 1,203,760661,4284,224,7142,513,3201,711,394114,855
EXTRA PROVINCIAL
ALBERTA MOTOR ASSOCIATION INSURANCE COMPANY00641,913492,434149,47978%-4139
AXA INSURANCE INC.500000n/a0
BELAIR INSURANCE COMPANY INC.96,86431,2661,766,8841,455,039311,84563%81,647
CANADIAN FARM INSURANCE CORP.42218,0564,80813,24838%3,013
CANASSURANCE INSURANCE COMPANY00000n/a0
GMS INSURANCE INC.00000n/a0
INDUSTRIAL ALLIANCE PACIFIC GENERAL INSURANCE CORPORATION29,3296,888403,786329,24474,54230%10,368
LA MUTUELLE D’ÉGLISE DE L’INTER-OUEST605,5355664,96963%-175
L’UNIQUE GENERAL INSURANCE INC.1382353,802275,93977,86362%9,878
MILLENNIUM INSURANCE CORPORATION20,6584,655547,399370,046177,35353%33,192
OPTIMUM INSURANCE COMPANY INC.45,75127,285235,052171,98063,07251%7,740
ORION TRAVEL INSURANCE COMPANY37,86319,42867,23339,14828,08545%7,053
SGI CANADA INSURANCE SERVICES LTD.288158474,566330,440144,12672%9,987
THE MUTUAL FIRE INSURANCE COMPANY OF BRITISH COLUMBIA4,6964,362132,55194,13338,41867%1,026
TRANS GLOBAL INSURANCE COMPANY2,396417,1542,8054,3492%13
UNICA INSURANCE INC.125,80186,810366,165252,376113,78965%9,370
 363,695181,2775,020,0963,818,9581,201,138168,973
FEDERAL
ACE INA INSURANCE132,19686,9601,499,1351,159,234339,90165%51,991
AIG INSURANCE COMPANY OF CANADA413,001234,0894,383,6543,216,0181,167,36359%223,595
ALLSTATE INSURANCE COMPANY OF CANADA778,972524,3893,301,8222,581,106720,71670%103,361
ALTA SURETY COMPANY600000n/a0
ARCH INSURANCE CANADA LTD.32,52535,061427,348325,934101,414117%-1405
ASCENTUS INSURANCE LTD.188-3166,5082,7063,802-53%186
AVIVA GENERAL INSURANCE COMPANY7 635,637420,3711,666,4541,340,900325,55472%47,140
AVIVA INSURANCE COMPANY OF CANADA1,667,7161,087,6617,129,3545,977,4921,151,86265%134,340
AXA INSURANCE (CANADA)
AXA ASSURANCES (CANADA)8
00000n/a0
AXA PACIFIC INSURANCE COMPANY900000n/a0
CANADA GUARANTY MORTGAGE INSURANCE COMPANY119,3731,3231,431,931666,618765,31313%74,782
CANADIAN NORTHERN SHIELD INSURANCE COMPANY27149391,772281,849109,92353%15,272
CERTAS DIRECT
INSURANCE COMPANY
330,475233,3351,457,6741,299,113158,56164%23,308
CERTAS HOME AND AUTO
INSURANCE COMPANY
1,448,8931,030,1408,061,1926,687,3631,373,82945%179,646
CHUBB INSURANCE COMPANY
OF CANADA
373,416203,7262,458,9261,640,958817,96852%84,465
CO-OPERATORS GENERAL INSURANCE COMPANY861,381488,8565,309,0543,850,4451,458,60968%162,268
COSECO INSURANCE COMPANY175,52670,644612,714439,243173,47151%56,964
CUMIS GENERAL
INSURANCE COMPANY
132,25158,391381,042299,66281,38061%5,676
DAS LEGAL PROTECTION
INSURANCE COMPANY LIMITED
9,5164,40143,42335,9107,51380%-5672
ECHELON INSURANCE89,75557,967441,889335,705106,18462%7,988
ECONOMICAL MUTUAL
INSURANCE COMPANY
907,176534,2745,353,0263,574,0411,778,98564%175,954
ELITE INSURANCE COMPANY94,09639,722852,196727,388124,80865%15,347
EVEREST INSURANCE COMPANY
OF CANADA
30,98416,895191,663137,29354,37063%1,779
FCT INSURANCE COMPANY LTD.93,84429,827256,445175,13081,31532%16,608
FEDERATED INSURANCE COMPANY
OF CANADA
83,80844,108493,776355,620138,15657%24,611
FIRST NORTH AMERICAN
INSURANCE COMPANY
5,27876712,9504,3478,60313%1,331
GENWORTH FINANCIAL MORTGAGE INSURANCE COMPANY CANADA329,90516,9596,119,5132,428,9863,690,52721%413,868
GORE MUTUAL INSURANCE COMPANY306,839198,381955,755675,514280,24161%22,493
GRANITE INSURANCE COMPANY1000000n/a0
INTACT INSURANCE COMPANY2,369,4281,366,15416,281,36612,331,7423,949,62463%385,551
INTERNATIONAL INSURANCE COMPANY OF HANNOVER SE15,2697,784103,97288,15015,82271%1,586
JEVCO INSURANCE COMPANY70,92940,4671,373,0381,161,077211,96163%28,490
LEGACY GENERAL INSURANCE COMPANY4,86772615,2831,87313,41034%321
MIC INSURANCE COMPANY CANADA0-3541,1871,24639,941-3%1,578
NORTHBRIDGE COMMERCIAL INSURANCE CORPORATION67,47851,876626,249436,605189,64488%13,754
NORTHBRIDGE GENERAL INSURANCE CORPORATION214,03857,7563,775,1222,723,8681,051,25455%134,040
NORTHBRIDGE PERSONAL INSURANCE CORPORATION104,38246,829794,871543,934250,93755%5,653
NOVEX INSURANCE COMPANY190,215114,7061,323,0941,113,150209,94463%25,586
OLD REPUBLIC INSURANCE COMPANY OF CANADA84,51240,729298,416227,92170,49554%11,010
OMEGA GENERAL INSURANCE COMPANY14,04311,44943,95333,07410,87950%379
PAFCO INSURANCE COMPANY73,97151,066290,672220,36570,30767%8,143
PEMBRIDGE INSURANCE COMPANY183,129132,694620,359469,301151,05872%4,965
PERTH INSURANCE COMPANY107,44957,106472,363387,74184,62264%7,529
PILOT INSURANCE COMPANY682-30,366431,372372,27059,10265%7,091
PRIMMUM INSURANCE COMPANY284,822286,3432,405,6702,106,822298,84877%1,756
QUEBEC ASSURANCE COMPANY00124,36593,11331,25263%1,345
RBC INSURANCE COMPANY OF CANADA60,59619,933257,415167,80889,60742%17,662
ROYAL & SUN ALLIANCE INSURANCE COMPANY OF CANADA552,357423,3494,413,6383,502,993910,64563%45,406
S&Y INSURANCE COMPANY-3-1,121210,932188,16022,77265%2,648
SAFETY NATIONAL CASUALTY CORPORATION0-1,13652,60924,18428,425n/a4,349
SCOTIA GENERAL INSURANCE COMPANY007,126557,071n/a-35
SCOTTISH & YORK INSURANCE CO. LIMITED152,45378,507686,285594,42391,86265%10,918
SECURITY NATIONAL INSURANCE COMPANY1,095,526747,1088,182,3616,741,4031,440,95877%-18,406
SONNET INSURANCE COMPANY11-163-3,764449,662303,484146,17864%13,451
TD DIRECT INSURANCE INC.120016,317416,313n/a246
TD GENERAL INSURANCE COMPANY223,101143,4671,074,913914,685160,22878%7,173
TD HOME AND AUTO INSURANCE COMPANY198,106237,5481,647,7551,416,890230,86580%3,983
TEMPLE INSURANCE COMPANY65,02947,942878,411742,270136,14172%3,838
THE BOILER INSPECTION AND INSURANCE COMPANY OF CANADA14,0193,110217,485135,02482,46130%23,397
THE DOMINION OF CANADA GENERAL INSURANCE COMPANY843,620539,3203,514,0662,617,063897,00365%36,633
THE GUARANTEE COMPANY OF NORTH AMERICA247,448126,6221,427,791916,596511,19547%58,071
THE MISSISQUOI INSURANCE COMPANY5756519,399370,924148,47564%13,319
THE NORDIC INSURANCE COMPANY OF CANADA449,120264,3501,889,0861,675,404213,68263%25,426
THE PERSONAL INSURANCE COMPANY552,092390,6702,800,9632,405,894395,06966%44,058
THE PORTAGE LA PRAIRIE MUTUAL INSURANCE COMPANY41,46425,417435,935307,927128,00863%7,270
THE SOVEREIGN GENERAL INSURANCE COMPANY92,76350,570787,590563,758223,83264%7,404
THE WAWANESA MUTUAL INSURANCE COMPANY598,976423,2697,775,3004,570,4393,204,86176%287,383
TRADERS GENERAL INSURANCE COMPANY273,533138,9051,257,3601,058,682198,67865%22,170
TRAFALGAR INSURANCE COMPANY OF CANADA50,83159,0041,016,176828,905187,27163%78,185
TRAVELERS INSURANCE COMPANY OF CANADA82,24710,217878,505510,689367,81632%32,576
TRISURA GUARANTEE INSURANCE COMPANY41,3958,415208,091145,05463,03720%9,025
UNIFUND ASSURANCE COMPANY466,955247,9552,204,5671,695,877508,69063%110,081
WATERLOO INSURANCE COMPANY137,31380,828494,530408,19786,33364%7,593
WESTERN ASSURANCE COMPANY143,98396,931879,110739,924139,18663%5,883
WESTERN FINANCIAL INSURANCE COMPANY21,95614,01757,67037,64820,02259%3,381
WESTERN SURETY COMPANY4,352-13661,58137,16524,416-2%3,038
WYNWARD INSURANCE GROUP21,17410,788163,169108,48854,68155%-125
ZENITH INSURANCE COMPANY47,41814,678229,559149,71079,84942%4,847
 19,315,62011,849,183126,955,92594,410,55432,545,3713,345,521
BRANCH
AFFILIATED FM INSURANCE COMPANY34,93524,508327,864138,088189,77654%29,314
ALLIANZ GLOBAL RISKS US INSURANCE COMPANY124,12696,8111,196,550895,174301,37678%-6,711
ALLIED WORLD SPECIALTY INSURANCE COMPANY5,6223,78155,63236,68418,94869%-3,682
ALLSTATE INSURANCE COMPANY00000n/a0
AMERICAN BANKERS INSURANCE COMPANY OF FLORIDA164,96543,749531,229352,940178,28948%14,293
ASSOCIATED ELECTRIC & GAS INSURANCE SERVICES LIMITED7,85920,018308,940191,705117,23567%18,006
ATRADIUS CREDIT INSURANCE N.V.3,8991,60130,37624,0966,28052%-2,509
AXA  ART INSURANCE CORPORATION1,7963019,8334,2695,56433%66
BERKLEY INSURANCE COMPANY34,16420,719290,011198,78791,22461%-1,642
CHEROKEE INSURANCE COMPANY3,9454,09621,09210,43210,66077%683
CHICAGO TITLE INSURANCE COMPANY15,7932,12767,66331,81535,84820%4,325
COMPAGNIE FRANCAISE D'ASSURANCE POUR LE COMMERCE EXTERIEUR9,9976,30270,81733,36937,44879%-5,153
CONTINENTAL CASUALTY COMPANY90,94933,8031,252,353725,807526,54649%59,760
COREPOINTE INSURANCE COMPANY19-12613,4162,11511,301111%195
ECCLESIASTICAL INSURANCE OFFICE PUBLIC LIMITED COMPANY28,70112,818186,024117,97168,05356%2,362
ELECTRIC INSURANCE COMPANY4,8831,07992,04424,33867,706-46%3,235
EMPLOYERS INSURANCE COMPANY OF WAUSAU0-4035,3632,42432,939n/a471
EULER HERMES NORTH AMERICA INSURANCE COMPANY25,55136,992116,02071,29044,73098%658
FACTORY MUTUAL INSURANCE COMPANY84,74924,0651,088,533556,391532,142114%-18,055
FEDERAL INSURANCE COMPANY5181,847161,60483,51578,08973%-2,820
FIRST AMERICAN TITLE INSURANCE COMPANY280-80775,77123,54252,229-222%3,919
GENERAL REINSURANCE CORPORATION00377,611205,373172,23835%11,883
GREAT AMERICAN INSURANCE COMPANY16,9786,782256,770101,906154,86452%3,679
GROUPAMA S.A.0010,4144910,365n/a7
HARTFORD FIRE INSURANCE COMPANY5,36313,867178,35139,316139,03585%409
HDI GLOBAL SE CANADA1322,1894,203174,252128,06046,19235%2,550
IRONSHORE INSURANCE LTD.6,2951,69577,11138,63238,479140%-757
JEWELERS MUTUAL INSURANCE COMPANY4,3594,02319,4497,07412,37597%-1,873
LIBERTY MUTUAL INSURANCE COMPANY84,11957,5121,736,478939,879796,59961%86,108
LLOYD'S UNDERWRITERS722,410456,9808,943,2856,491,3712,451,91457%842,525
MITSUI SUMITOMO INSURANCE COMPANY, LIMITED00000n/a0
MOTORS INSURANCE CORPORATION72,16128,357521,866309,680212,18634%29,018
MUNICH REINSURANCE AMERICA, INC.0-1,895203,99877,423126,575-40%13,875
NATIONAL LIABILITY & FIRE INSURANCE COMPANY15,444-15,707392,378129,991262,387-12%9,257
PROGRESSIVE CASUALTY INSURANCE COMPANY1400000n/a0
PROTECTIVE INSURANCE COMPANY1,2543,07128,94417,14411,800217%-685
RELIANCE INSURANCE COMPANY1500000n/a0
SCOR UK COMPANY LIMITED007,603637,540n/a-67
SECURITY INSURANCE COMPANY OF HARTFORD00000n/a0
SENTRY INSURANCE A MUTUAL COMPANY82524841,7336,38435,34918%1,361
SOMPO JAPAN NIPPONKOA INSURANCE INC.3,8041,23692,33510,04282,29321%2,842
ST. PAUL FIRE AND MARINE INSURANCE COMPANY39,18534,069852,854491,871360,98354%27,435
STARR INSURANCE & REINSURANCE LIMITED5,8172,26375,98659,49216,494102%-1,186
STATE FARM FIRE AND CASUALTY COMPANY1600219,27723,425195,852n/a73,953
STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY1700358,65044,362314,288n/a320,437
STEWART TITLE GUARANTY COMPANY83,70021,927216,072111,886104,18626%16,250
SUNDERLAND MARINE INSURANCE COMPANY LIMITED (CANADA BRANCH)46718847,26033,13614,12449%176
T.H.E. INSURANCE COMPANY3075435,7741,9453,82991%494
TECHNOLOGY INSURANCE COMPANY INC.13,9205,73939,27823,27516,00379%412
THE AMERICAN ROAD INSURANCE COMPANY2,18853620,33450219,83290%375
THE SHIPOWNERS' MUTUAL PROTECTION AND INDEMNITY ASSOCIATION (LUXEMBOUR01346,29414,23232,062-176%-2,046
TIG INSURANCE COMPANY1800000n/a0
TOKIO MARINE & NICHIDO FIRE INSURANCE CO., LTD.16,44811,152136,68069,27467,40658%2,702
TRITON INSURANCE COMPANY12,1393,497198,97674,943124,03330%19,899
VIRGINIA SURETY COMPANY, INC.22,90510,77172,03548,63923,39683%-863
WESTPORT INSURANCE CORPORATION41,68521,331619,564521,66697,89828%20,919
XL INSURANCE COMPANY SE60,29765,220812,841558,606254,235125%-36,777
XL REINSURANCE AMERICA INC.9,96910,312359,073222,493136,58060%3,905
XL SPECIALTY INSURANCE COMPANY005,00005,000n/a0
ZURICH INSURANCE COMPANY LTD365,810598,5574,188,1503,247,745940,405106%-157,697
 2,272,7891,680,13427,267,81117,574,6319,693,1801,385,235
TOTAL23,155,86414,372,022163,468,546118,317,46345,151,0835,014,584

 

LIFE INSURANCE COMPANIES

 ONTARIO BUSINESSTOTAL COMPANY
FINANCIAL SUMMARY
year ended
December 31, 2015

(in thousands)
Direct Written Premiums

$
Benefits and payments to policyholders

$
Total Assets

$
Total liabilities

$
Excess of assets over liabilities

$
Net Income / (loss)

$
EXTRA PROVINCIAL
ACADIA LIFE2910209,942161,51648,4265,913
ASSUMPTION MUTUAL LIFE INSURANCE COMPANY28,29311,1541,567,2501,450,320116,9308,902
AXA INSURANCE INC.000000
CANASSURANCE INSURANCE COMPANY196,4591,546206,710185,73220,978-121
DESJARDINS FINANCIAL SECURITY LIFE ASSURANCE COMPANY818,312605,82033,321,0543,321,05430,000,000335,954
FIRST CANADIAN INSURANCE CORPORATION27,0542,672534,636337,904196,73223,827
HUMANIA ASSURANCE INC.2,7352,423501,349430,77970,5704,502
INDUSTRIAL ALLIANCE INSURANCE AND FINANCIAL SERVICES INC.1,229,244862,39149,489,02645,309,8214,179,205389,300
LA CAPITALE INSURANCE AND FINANCIAL SERVICES INC.170,08586,6621,344,7211,193,801150,920-27,512
LS-TRAVEL, INSURANCE COMPANY6,8532,33021,67213,4248,248923
NATIONAL BANK LIFE INSURANCE COMPANY11,4743,383179,10483,38195,72347,993
SSQ, LIFE INSURANCE COMPANY INC.227,902158,0269,433,1888,635,686797,50264,789
THE UNION LIFE MUTUAL ASSURANCE COMPANY (UNION LIFE) 7,9312932,031,7211,807,642224,07918,120
TRANS GLOBAL LIFE INSURANCE COMPANY1,099447,2142,0265,188-74
 2,537,4701,736,75498,847,58762,933,08635,914,501872,516
FEDERAL
ACE INA LIFE INSURANCE99,46523,484138,161106,92231,23913,352
ALLSTATE LIFE INSURANCE COMPANY OF CANADA003,788183,7709
ASSURANT LIFE OF CANADA126,48152,5571,652,6251,544,307108,31811,440
BLUE CROSS LIFE INSURANCE COMPANY OF CANADA68,45148,293984,588853,498131,0908,103
BMO LIFE ASSURANCE COMPANY424,447275,4928,015,6267,019,049996,577104,944
BMO LIFE INSURANCE COMPANY13,9113,847707,938158,317549,62113,721
CANADIAN PREMIER LIFE INSURANCE COMPANY87,81016,770226,946143,63383,31316,449
CIBC LIFE INSURANCE COMPANY LIMITED20,477928103,164-99,646202,8108,338
CIGNA LIFE INSURANCE COMPANY OF CANADA28,74024,495118,70453,15465,55017,869
COMPCORP LIFE INSURANCE COMPANY0010,0006919,309-62
CO-OPERATORS LIFE INSURANCE COMPANY237,002156,4826,006,1345,050,649955,48521,104
CUMIS LIFE INSURANCE COMPANY63,23826,8501,262,701991,644271,05713,641
FORESTERS LIFE INSURANCE COMPANY77,02977,4471,523,2381,346,045177,19319,821
GIRAFFE & FRIENDS LIFE INSURANCE COMPANY13606,7951,7275,068-2,197
IVARI20288,716196,95410,946,6629,705,7091,240,953-55,029
LA CAPITALE FINANCIAL SECURITY INSURANCE COMPANY26,79215,380527,150398,162128,98811,954
LONDON LIFE INSURANCE COMPANY1,515,3931,028,28885,880,83782,189,7653,691,072511,736
MD LIFE INSURANCE COMPANY003,199,7643,189,13410,6303,613
PRIMERICA LIFE INSURANCE COMPANY OF CANADA141,07756,5553,240,8392,885,035355,80435,185
RBC LIFE INSURANCE COMPANY814,911346,39011,696,8309,992,5151,704,315103,147
RELIABLE LIFE INSURANCE COMPANY17,31315,49052,72040,66612,05464
SCOTIA LIFE INSURANCE COMPANY23,0522,508158,516-59,434217,95028,120
SUN LIFE ASSURANCE COMPANY OF CANADA4,330,3443,619,981211,704,090195,386,17416,317,9161,786,622
SUN LIFE INSURANCE (CANADA) LIMITED29,21619,08216,917,07315,397,1021,519,971-51,358
TD LIFE INSURANCE COMPANY57,82516,428158,59999,36259,2373,452
THE CANADA LIFE ASSURANCE COMPANY2,033,9551,498,12362,546,28951,755,83310,790,4561,605,783
THE EMPIRE LIFE INSURANCE COMPANY451,346342,41113,837,92812,686,0111,151,917107,294
THE EQUITABLE LIFE INSURANCE COMPANY OF CANADA310,046211,5533,462,5822,963,559499,02353,800
THE GREAT-WEST LIFE ASSURANCE COMPANY2,730,9242,165,21353,687,61334,204,96819,482,6452,698,728
THE MANUFACTURERS LIFE INSURANCE COMPANY4,565,8094,020,557227,064,082185,639,66041,424,4221,982,281
THE STANDARD LIFE ASSURANCE COMPANY OF CANADA21000000
THE WAWANESA LIFE INSURANCE COMPANY24,82117,6521,064,809917,906146,9032,493
VSP CANADA VISION CARE INSURANCE921169,8247669,058-1,026
WESTERN LIFE ASSURANCE COMPANY63,45511,391222,192156,04866,1448,465
 18,672,27414,290,717727,138,807624,718,949102,419,8589,081,856
BRANCH
AETNA LIFE INSURANCE COMPANY7661480,89821,02059,8782,903
ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA153971,74929,54242,2071,072
AMERICAN BANKERS LIFE ASSURANCE COMPANY OF FLORIDA113,64812,409209,556117,46292,0949,555
AMERICAN HEALTH AND LIFE INSURANCE COMPANY3,32888745,07713,89431,1836,658
AMERICAN INCOME LIFE INSURANCE COMPANY33,7726,266297,281162,173135,10843,749
AXA EQUITABLE LIFE INSURANCE COMPANY334073,51926,23747,2823,333
COMBINED INSURANCE COMPANY OF AMERICA38,95413,749818,846355,597463,24921,830
CONNECTICUT GENERAL LIFE INSURANCE COMPANY2,028883161,714113,65248,0626,912
GERBER LIFE INSURANCE COMPANY1,60626044,41229,21415,198161
HARTFORD LIFE INSURANCE COMPANY2204698,0733,1814,892-903
JACKSON NATIONAL LIFE INSURANCE COMPANY32010,6077,0423,565-305
LIBERTY LIFE ASSURANCE COMPANY OF BOSTON53619815,5743,62911,945-26
LIFE INSURANCE COMPANY OF NORTH AMERICA9,7164,12970,07543,42426,651-5,991
METROPOLITAN LIFE INSURANCE COMPANY2300108,42175108,3462,025
NEW YORK LIFE INSURANCE COMPANY34,7515,911488,969133,500355,46947,581
PAVONIA LIFE INSURANCE COMPANY OF MICHIGAN4,02563956,70823,72832,980-1,530
PHOENIX LIFE INSURANCE COMPANY002,7384272,311-52
PRINCIPAL LIFE INSURANCE COMPANY036514,92011,7793,141-1,625
STANDARD LIFE ASSURANCE LIMITED23,55425,5786,52706,5279
STATE FARM INTERNATIONAL LIFE INSURANCE COMPANY LTD0048,2603,84844,41294,244
UNITED AMERICAN INSURANCE COMPANY14716013,7223,65110,071421
266,19272,6162,647,6461,103,0751,544,571230,021
TOTAL21,475,93616,100,087828,634,040688,755,110139,878,93010,184,393

 

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REINSURANCE COMPANIES

 ONTARIO BUSINESSTOTAL COMPANY
FINANCIAL SUMMARY
year ended December 31, 2015

(in thousands)
Premiums Assumed

$
Net Losses Incurred

$
Total Assets

$
Total Liabilities

$
Excess of assets over liabilities

$
Claims incurred to earned premium

%
Net Income/ (loss)

$
ONTARIO
FARM MUTUAL REINSURANCE PLAN INC.110,55653,856783,651418,033365,618158%33,443
GLOBAL REINSURANCE COMPANY00000n/a0
110,55653,856783,651418,033365,61833,443
EXTRA PROVINCIAL
OPTIMUM REASSURANCE INC.2400000n/a0
000000
FEDERAL
12345 INSURANCE COMPANY250-214,25133713,9140%-65
ARCH REINSURANCE COMPANY6,00933866,44237,52628,916181%-1,842
ASPEN INSURANCE UK LIMITED25,933-29,207460,284268,526191,7581027%7,710
AURIGEN REINSURANCE COMPANY51,64217,884309,380247,60861,772n/a-2,440
MUNICH REINSURANCE COMPANY OF CANADA139,00529,3491,301,2401,003,383297,857173%41,762
PARTNER REINSURANCE COMPANY OF THE U.S.24,1824,888569,245301,238268,007487%49,231
RGA LIFE REINSURANCE COMPANY OF CANADA402,73357,5218,065,9716,856,4081,209,563n/a144,897
SCOR CANADA REINSURANCE COMPANY38,28939,830570,798402,929167,869261%37,852
SUECIA REINSURANCE COMPANY0-2408,5593,1875,3720%-57
THE CANADA LIFE INSURANCE COMPANY OF CANADA700,661401,98013,298,28311,976,0171,322,266n/a101,066
1,388,454522,34124,664,45321,097,1593,567,294378,114
BRANCH
AMERICAN AGRICULTURAL INSURANCE COMPANY8,423-54091,02828,58562,443585%8,682
AXIS REINSURANCE COMPANY7,5657,427324,262259,76764,495184%7,243
BRITISH INSURANCE COMPANY OF CAYMAN45,78625,739439,182191,876247,306n/a19,776
CAISSE CENTRALE DE RÉASSURANCE17,24410,188244,708161,07683,632157%7,326
CATALINA GENERAL INSURANCE LTD.2633116,1295,32310,8062%536
COLISEE RE.00000n/a0
EMPLOYERS REASSURANCE CORPORATION77,04657,316820,261-153,158973,419n/a44,783
EVEREST REINSURANCE COMPANY79,538-5,7171,104,678621,547483,131-256%61,131
GENERAL AMERICAN LIFE INSURANCE COMPANY108,95270,7222,413,4281,053,8011,359,627n/a97,967
GENERAL RE LIFE CORPORATION505-4714,7682,21012,558n/a735
HANNOVER RÜCK SE153,31046,1631,168,563688,924479,639216%76,368
MUNICH REINSURANCE COMPANY4,285,1683,102,7846,448,6953,055,6353,393,060n/a304,061
NATIONWIDE MUTUAL INSURANCE COMPANY2700000n/a0
ODYSSEY REINSURANCE COMPANY39,73512,055401,185237,289163,896168%7,041
PARTNER REINSURANCE COMPANY LTD.19,9912,772357,053298,24758,806n/a4,936
PARTNER REINSURANCE EUROPE SE00000n/a0
RELIASTAR LIFE INSURANCE COMPANY086359,51311,87247,641n/a836
SCOR GLOBAL LIFE128,397110,178516,835220,183296,652n/a47,048
SIRIUS AMERICA INSURANCE COMPANY2,349-37492,91425,01967,8952643%9,192
SWISS REINSURANCE COMPANY LTD129,601-6,3241,571,8451,198,302373,5431487%53,129
THE TOA REINSURANCE COMPANY OF AMERICA13,4416,472251,771186,73165,040161%6,475
TRANSATLANTIC REINSURANCE COMPANY30,89210,745662,521255,925406,596240%57,218
5,147,9463,450,45316,999,3398,349,1548,650,185814,483
TOTAL6,646,9564,026,65042,447,44329,864,34612,583,0971,226,040

 

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FRATERNAL SOCIETIES

 ONTARIO BUSINESSTOTAL COMPANY
FINANCIAL SUMMARY
year ended December 31, 2015

(in thousands)
Direct Written Premiums

$
Benefits and payments to policyholders

$
Total Assets

$
Total Liabilities

$
Excess of assets over liabilities

$
Net Income / (loss)

$
ONTARIO
GUARANTEED FUNERAL DEPOSITS OF CANADA (FRATERNAL)28000000
TORONTO POLICE WIDOWS AND ORPHANS FUND1,7842,121103,05694,3608,69626
  1,7842,121103,05694,3608,69626
FEDERAL
ACTRA FRATERNAL BENEFIT SOCIETY9,4306,105659,774638,78120,9932,264
FAITHLIFE FINANCIAL10,39212,439418,762380,57438,188240
SONS OF SCOTLAND BENEVOLENT ASSOCIATION1,09467814,33411,6612,673-474
TEACHERS LIFE INSURANCE SOCIETY (FRATERNAL)12,1348,43471,53456,28215,252975
THE GRAND ORANGE LODGE OF BRITISH AMERICA1,2261,02627,25222,9604,292-97
THE INDEPENDENT ORDER OF FORESTERS20,09317,0306,185,2503,894,5032,290,747124,113
THE ORDER OF ITALO-CANADIANS29000000
UKRAINIAN FRATERNAL SOCIETY OF CANADA12439,8868,3191,5670
 54,38145,7557,386,7925,013,0802,373,712127,021
BRANCH
CROATIAN FRATERNAL UNION OF AMERICA38733413,99412,1001,894-193
KNIGHTS OF COLUMBUS77,38029,6793,437,3502,595,100842,250-19,319
THE ROYAL ARCANUM, SUPREME COUNCIL OF16646212,0837,7844,299144
UKRAINIAN NATIONAL ASSOCIATION27789,0435,4653,578135
UNITED COMMERCIAL TRAVELERS OF AMERICA, ORDER OF65445,00205,002-37
 78,02530,5973,477,4722,620,449857,023-19,270
TOTAL134,19078,47310,967,3207,727,8893,239,431107,777

 

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RECIPROCAL OR INTERINSURANCE EXCHANGES

 ONTARIO BUSINESSTOTAL BUSINESS
FINANCIAL SUMMARY
year ended December 31, 2015

(in thousands)
Direct Written Premiums

$
Direct Claims Incurred

$
Total Assets

$
Total Liabilities

$
Excess of assets over liabilities

$
Claims Incurred to earned premium

%
Net Income/ (Loss)

$
ONTARIO
CANADIAN UNIVERSITIES RECIPROCAL INSURANCE EXCHANGE11,54711,229154,75085,07169,679108%3,033
COMMUNITY NEWSPAPERS RECIPROCAL INSURANCE EXCHANGE8255741344403%9
HEALTHCARE INSURANCE RECIPROCAL OF CANADA129,441113,8301,268,306817,326450,98096%45,881
MUNICIPAL ELECTRIC ASSOCIATION RECIPROCAL INSURANCE EXCHANGE11,9165,930102,07734,27267,80577%6,366
ONTARIO MUNICIPAL INSURANCE EXCHANGE23,32019,744220,152189,32730,82579%2,551
ONTARIO SCHOOL BOARDS' INSURANCE EXCHANGE43,29631,316252,865153,82199,04477%14,388
POULTRY INSURANCE EXCHANGE RECIPROCAL OF CANADA2,773010,4383,6396,7992%2,173
 222,375182,0542,009,1621,283,590 725,57274,401
EXTRA PROVINCIAL
CANADIAN AIRPORTS RECIPROCAL INSURANCE EXCHANGE (CARIE)26306,2292,7293,5003%463
CANADIAN EGG INDUSTRY RECIPROCAL ALLIANCE0013,3463,8249,52294%-262
CANADIAN LAWYERS LIABILITY ASSURANCE SOCIETY7,66332,359125,301111,11314,188-2%482
 7,92632,359144,876117,66627,210683
BRANCH
LUMBERMEN'S UNDERWRITING ALLIANCE3000000n/a0
TOTAL230,301214,4132,154,0381,401,256752,78275,084

 

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FINANCIAL SUMMARY NOTES

  1. The former name of Edge Mutual Insurance Company was Peel Maryborough Mutual Insurance Company.
  2. The former name of Heartland Farm Mutual Inc. was The North Waterloo Farmers Mutual Insurance Company.
  3. No financial information was reported for Markham General Insurance Company in 2015. The company was ordered into liquidation effective July 24, 2002. The company cancelled its licence in 2015.
  4. The company’s licence is limited to automobile risks of Toronto Transit Commission.
  5. No financial information was reported for AXA Insurance Inc. in 2015. The company cancelled its licence in 2015.
  6. No financial information was reported for Alta Surety Company in 2015. Company has been in liquidation since June 2002.
  7. The former name of Aviva General Insurance Company was RBC General Insurance Company.
  8. No financial information was reported for AXA Insurance (Canada) AXA Assurances (Canada) in 2015. The company cancelled its licence in 2015.
  9. No financial information was reported for AXA Pacific Insurance Company in 2015. The company cancelled its licence in 2015.
  10. No financial information was reported for Granite Insurance Company in 2015. Company has been inactive since November 1992.
  11. The former name of Sonnet Insurance Company was Federation Insurance Company of Canada.
  12. The company has a licence condition not to undertake or renew insurance contracts in Ontario after May 30, 1995.
  13. The former name of HDI Global SE Canada was HDIGerling Industrie Versicherung AG.
  14. The company has a licence condition not to undertake or renew insurance contracts in Ontario after January 9, 2006.
  15. No financial information was reported for Reliance Insurance Company in 2014. Company has been in liquidation since August 2001.
  16. The company was acquired by the Desjardins group in 2015.
  17. The company was acquired by the Desjardins group in 2015.
  18. The company has a licence condition not to undertake or renew insurance contracts in Ontario after June 20, 2007. The company cancelled its licence in 2015.
  19. Company is licensed to write both life and property & casualty insurance.
  20. The former name of ivari was Transamerica Life Canada.
  21. No financial information was reported for The Standard Life Assurance Company of Canada in 2015. The company cancelled its licence in 2015.
  22. The company has a licence condition to service existing policies only.
  23. The company has a licence condition not to undertake or renew insurance contracts in Ontario after March 9, 2006.
  24. No financial information was received for Optimum Reassurance Inc. in 2015.
  25. The former name of 12345 Insurance Company was The Mortgage Insurance Company of Canada.
  26. The former name of Catalina General Insurance Ltd. was Alea (Bermuda) Ltd.
  27. The company has a licence condition not to undertake or renew insurance contracts in Ontario after March 27, 2006.
  28. No financial information was received for Guaranteed Funeral Deposits of Canada (Fraternal) in 2015.
  29. No financial information was received for the Order of Italo-Canadians in 2015.
  30. No financial information was reported for Lumbermens’ Underwriting Alliance in 2015. The company is winding its operations down.

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