June 14, 2013 Insurance

Montréal - According to the 2012 report on insurance (pdf - 1 MB)This link will open in a new windowUpdated on June 14, 2013 (in French only) tabled today in the Québec National Assembly, the solvency of insurers carrying on business in Québec improved over the course of fiscal 2012.

Increase in average solvency ratio of insurers
After dropping in 2011, the average solvency ratio of insurers carrying on business in Québec climbed to 227.1% as at December 31, 2012, up 4.8 percentage points over 2011.

In insurance of persons, the average solvency ratio rose by 5.2 percentage points; in damage insurance, it increased by 4.5 percentage points.

As at December 31, 2012, 281 insurers carried on business in Québec, namely, 99 in insurance of persons, 178 in damage insurance and four in insurance of persons and damage insurance. As at December 31, 2011, 287 insurers were licensed to operate in Québec.

More information about the insurance of persons and damage insurance industries in Québec is available in the 2012 report on insurance (pdf - 1 MB)This link will open in a new windowUpdated on June 14, 2013.

The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec's financial sector.

- 30 -

Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337
www.lautorite.qc.ca
Twitter: @lautorite This link will open in a new window

Additional news

• October 5, 2017 AMF Hosts 16th Annual Conference of International Association of Deposit Insurers
• March 10, 2016 AMF selected to host 2017 Annual General Meeting of International Association of Deposit Insurers
• June 13, 2012 Market Share of Québec Insurers Increases
• March 16, 2012 Distribution other than through a representative - Four insurers fined $80,000
• June 9, 2011 Market share of Québec insurers exceeds 50%
• June 17, 2008 Market share for insurers with a Québec charter nears 49% in 2007
• June 20, 2007 Larger market share for insurers with a Québec charter in 2006
• February 19, 2007 AMF has arrived at a settlement with Aviva, Scottish & York, Elite, and Traders General insurance companies
• July 4, 2006 AMF launches penal proceedings against 4 insurers for failure to file statistical data
• June 15, 2006 Quebec insurers with 47% market share in 2005
• June 15, 2004 Québec insurers held 44.1% market share in 2003