Canadian Life & Health Quarterly
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Life insurers in Canada enjoyed a relatively positive 1H18, with moderate growth in net income and a 10.7% annualized ROE. Although new premium growth at home continued to lag, including in the individual segment, and net investment income (including realized gains) added little, global net premium income and fee income both saw a rate of advance in mid-single digits. Together with a slight improvement in the benefits ratio and a benign period in terms of changes to actuarial liabilities, net income amounted to CAD 6.2 bn, up 4.9% yoy. Furthermore, the industry's balance sheet remained strong under the new capital regime effective as of January 1, 2018.