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Fall 2023 - Insurance Market Update Canada

Conservative insurance market continues in Canada. Risks remain for economic and social inflation, geopolitical tensions, catastrophic weather and supply chain and labor issues.

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Aon has released its 2023 Fall Canadian Insurance Market Update in support of Aon’s ongoing commitment to help Canadian clients make better decisions about risk management and insurance programs. The report finds that a conservative market environment continues as uncertainty around economic and social inflation, geopolitical tensions, rising catastrophic weather losses, and supply chain and labour challenges continue. However, there is optimism within the market with moderate competition returning as insurers look for growth opportunities with a particular emphasis on well-performing risks.