Montréal - According to the 2012 report on insurance (pdf - 1 MB)This link will open in a new window (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 window.
The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
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