Superintendent of Insurance Report of Business Transacted

in 2016

Superintendent of Insurance Alberta Treasury Board and Finance Room 402, 9515 – 107 Street, NW Edmonton, Alberta T5K 2C3

Phone: 780.643.2237 Fax: 780.420.0752 Email: tbf.insurance@gov.ab.ca www.finance.alberta.ca/business/insurance Copyright © President of Treasury Board and Ministry of Finance. All rights reserved.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 1

Contents OVERVIEW ................................................................................................................................................. 2

ACCIDENT AND SICKNESS INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ......... 6

AIRCRAFT INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ........................................ 8

AUTOMOBILE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 .................................. 9

BOILER AND MACHINERY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ......... 11

CREDIT INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ........................................... 12

CREDIT PROTECTION INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ................ 13

EQUIPMENT WARRANTY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ........... 13

FIDELITY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ......................................... 13

HAIL INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ................................................. 15

HOME WARRANTY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ...................... 15

LEGAL EXPENSE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016.......................... 16

LIABILITY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ........................................ 16

LIFE INSURANCE – DIRECT PREMIUMS WRITTEN IN THE PROVINCE OF ALBERTA FOR 2016 (in $000s) ......................................................................................................................................... 19

LIFE INSURANCE – DIRECT CLAIMS, ANNUITIES, DIVIDENDS IN THE PROVINCE OF ALBERTA FOR 2016 ............................................................................................................................... 23

MARINE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ........................................... 25

MORTGAGE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ................................... 26

PROPERTY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 .................................... 26

PROPERTY INSURANCE CONTINUED… ......................................................................................... 27

SURETY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 .......................................... 30

TITLE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016 ............................................... 31

GLOSSARY............................................................................................................................................... 32

This page is intentionally left blank. ....................................................................................................... 33

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 2

OVERVIEW Pursuant to section 799(2) of the Insurance Act, this is the 104th Annual Report of the Superintendent of Insurance, which shows the insurance business transacted in Alberta for the year ending December 31, 2016. The following is a summary of the business transacted in Alberta during 2016:

(in Thousands)

Premiums Written Life1 $6,420,622

General $9,469,516

Total Premiums Written

$15,890,138

Claims and Disbursements Life2 $ 3,975,665

General $ 10,793,367

Total Claims and Disbursements $ 14,769,032 Insurers Licensed There were 247 insurance entities licensed on December 31, 2016.

Business Type Alberta Extra Provincial Federal3 Total

Property and Casualty Insurance Companies 9 16 127 152

Life Insurance Companies 2 13 47 62

Fraternal Societies 0 1 10 11

Reciprocal Insurance Exchanges 16 6 0 22

Total 27 36 184 247

The Superintendent recovers all costs of regulation from industry on an annual basis. In 2016, we collected $1,949,641 through the Recovery of Administration Costs Regulation.

1 Life premiums include annuities and accident and sickness. 2 Life claims and disbursements include annuities and accident and sickness. 3 Includes branch operations of foreign insurers.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 3

Superintendent Notices, Guidelines, and Interpretation Bulletins Pursuant to section 792.1 of the Act, the Superintendent issues notices, guidelines and interpretation bulletins to clarify expectations with respect to interpretation and application of the Act and regulations. In 2016, the Superintendent issued seven notices and interpretation bulletins on a variety of topics including Using the Statutory Dispute Resolution Process on Diminished Value Claims, an Alberta Standard Automobile Insurance Policy Form – Transportation Network – S.P.F No 9, Private Passenger Usage Based Insurance Approval Process and Insurer Legislation Compliance. Additional information can be found on our website at: Superintendent of Insurance Bulletins and Notices.

Market Conduct Activities As part of a risk-based approach to the supervision of the insurance industry in Alberta, the Superintendent investigates consumer complaints, allegations of misconduct on the part of insurers, unfair acts or practices taken against consumers and occurrences of non-compliance with the Act and its attendant regulations. Upon the completion of an investigation, the Superintendent, pursuant to the provisions of the Act and the Enforcement and Administration Regulation, determines if further regulatory action is warranted. Regulatory action includes but is not limited to the assessment of administrative penalties. In 2016, the Superintendent assessed eleven administrative penalties totaling $1,220,000. Additional details can be found on our website at Enforcement Activities.

Certified Examiner Selection In the event of a disagreement between a claimant and an insurance company as to whether or not an injury arising from a motor vehicle accident is a minor injury, or if a minor injury has caused a serious impairment, the Certified Examiner (CE) process is mandated under the Minor Injury Regulation to resolve the dispute. Under this process either party may apply to the Superintendent of Insurance to appoint a physician from the CE Register to assess the patient and determine if the injury is minor or not.

The appointment of CEs began in 2005 and has averaged 156 per year for the last five years. See chart for number of CE applications processed by the Certified Examiner process. For further information on the Certified Examiner process, the Certified Examiner Register or application forms for the appointment of a Certified Examiner please refer to our website, at www.finance.alberta.ca.

Number of CE Applications Processed by the CE Process

14 59

118 20

74 194

245 218

136 147

180 98

0 100 200 300

200520062007200820092010201120122013201420152016

Certified Examiners Selected

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 4

Comparative Summary of Total Direct Premiums Written and Claims by Class of Insurance in Alberta During 2016

Class Premiums ($000)

Claims Including

Adjustment Expenses

($000)

Claims Ratio (%)

Year 2016 2016 2016 2015 2014 2013 2012 2011 2010 2009 Accident & Sickness 2,839,405 1,670,590 59 59 54 55 54 55 55 54

Aircraft 38,070 18,921 50 36 98 38 22 22 47 35

Automobile 4,422,234 3,837,138 87 78 79 76 74 67 61 54 Boiler & Machinery 70,961 49,081 69 65 78 17 52 52 30 70

Credit 3,581 4,037 113 9 54 25 16 16 31 27

Credit Protection 27,368 10,450 38 13 5 4 3 — — — Equipment Warranty1 60,464 17,012 28 25 21 18 — — — —

Fidelity 11,218 8,294 74 55 46 -96 23 23 10 82

Hail 41,219 53,647 130 70 144 64 48 48 57 82

Home Warranty2 6,199 242 4 32 22 55 33 — — —

Legal Expense 3,800 1,692 45 30 57 66 64 64 113 73

Liability 947,242 564,434 60 56 67 55 43 87 38 36

Life 3,581,217 2,305,075 64 64 71 64 65 64 64 63

Marine 45,283 9,092 20 -7 31 66 18 18 23 39

Mortgage 195,527 76,223 39 9 2 15 80 80 94 133

Property 3,485,573 6,121,147 176 44 53 121 75 95 67 71

Surety 89,596 17,603 20 15 37 72 44 43 80 29

Title 21,178 4,354 21 25 25 19 18 18 17 20

Source: The information in this table was obtained from the 2016 annual filings filed with Alberta for provincial and extra provincial insurers and information filed with the Office of the Superintendent of Financial Institutions for federal insurers.

1 Equipment Warranty was included in Boiler and Machinery prior to 2012 2 Home Warranty is also included in Property

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 5

Provincial Insurer Financial Results

The Superintendent publishes select financial data for Alberta incorporated insurance companies. The data is reported as provided by the insurers in their quarterly reporting to the Superintendent. It can be found on our website at: Financial Data for Alberta Incorporated Insurance Companies.

Insurance Companies Operating in Alberta The Superintendent maintains a list of Insurance Companies, Reciprocal Insurance Exchanges and Fraternal Societies licensed to operate in Alberta. This list, Insurers, Reciprocal Insurance Exchanges, and Fraternal Benefit Societies – Licensed in Alberta, can be found on our website. The list includes the insurance classes, attorney for service (person delegated to accept service of legal papers), and contact information for the Complaint Liaison Officer/ombudsperson. The Superintendent also maintains a list of insurers, Reciprocal Insurance Exchanges and Fraternal Societies that have withdrawn, amalgamated or changed their names, and includes the name of the entity and the historical information on why they no longer operate in Alberta. This list can be found on our website, the listing is called Insurer, Reciprocal Insurance Exchanges, and Fraternal Societies – No Longer Licensed in Alberta.

ABSTRACT OF RETURNS DISCLAIMER — the following information was obtained from the 2016 annual filings filed with Alberta for provincial and extra provincial insurers and information filed with the Office of the Superintendent of Financial Institutions for federal insurers. While every effort has been made to ensure the accuracy of this report, decisions should not be made solely on the information herein contained. You will notice in many of the tables (on the following pages) that there’s an asterisks (*) next to the words ‘Claims Ratio’ – see below for a clarification of the term ‘Claims Ratio’. *CLAIMS RATIO: A ratio of total direct claims and adjustment expense incurred to total

direct premiums written in Alberta. This ratio does not take into consideration changes in unearned premiums and reinsurance as these amounts are not allocated by Province.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 6

ACCIDENT AND SICKNESS INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Actra Fraternal Benefit Society 331 156 47.13% Aetna Life Insurance Company 658 93 14.13% AIG Insurance Company of Canada 6,589 692 10.50% Alberta Motor Association Insurance Company 1,429 629 44.02% Allianz Global Risks US Insurance Company 2,725 556 20.40% Allianz Life Insurance Company of North America 1 0 0.00% Allstate Insurance Company of Canada 144 67 46.53% American Bankers Insurance Company of Florida 33,848 2,965 8.76% American Bankers Life Assurance Company of Florida 13,900 4,193 30.17%

American Income Life Insurance Company 2,293 482 21.02% Assumption Mutual Life Insurance Company 647 196 30.29% Aviva Insurance Company of Canada 66 22 33.33% Berkley Insurance Company 3,639 581 15.97% Blue Cross Life Insurance Company of Canada 34,975 20,215 57.80% BMO Life Assurance Company 7,385 1,459 19.76% BMO Life Insurance Company 4,506 297 6.59% Canadian Premier Life Insurance Company 22,338 2,909 13.02% Canassurance Insurance Company 557 390 70.02% Chubb Insurance Company of Canada 1,560 179 11.47% Chubb Life Insurance Company of Canada 23,501 6,997 29.77% CIBC Life Insurance Company Limited 8,597 1,604 18.66% CIGNA Life Insurance Company of Canada 4,372 2,081 47.60% Combined Insurance Company of America 22,194 8,890 40.06% Continental Casualty Company 0 12 N/A Co-operators General Insurance Company 89 3 3.37% Co-operators Life Insurance Company 49,388 27,704 56.09% Cumis General Insurance Company 16,563 7,373 44.51% Cumis Life Insurance Company 10,550 2,879 27.29% Desjardins Financial Security Life Assurance Company 145,865 101,924 69.88%

Echelon Insurance 0 -448 N/A Everest Insurance Company of Canada 119 21 17.65% FaithLife Financial 93 21 22.58% Fenchurch General Insurance Company 1,638 1,498 91.49% First Canadian Insurance Corporation / La Corporation d'Assurance First Canadian 34,811 5,022 14.43%

Foresters Life Insurance Company 880 -1,268 -144.09% GMS Insurance Inc. 6,669 3,991 59.84% Green Shield Canada 64,502 54,371 84.29%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 7

ACCIDENT AND SICKNESS INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Humania Assurance Inc. 417 335 80.34% Industrial Alliance Insurance and Financial Services Inc. 86,724 49,148 56.67%

International Insurance Company of Hannover SE 7 -2 -28.57% ivari 477 0 0.00% Knights of Columbus 963 51 5.30% La Capitale Financial Security Insurance Company 12,381 10,562 85.31% La Capitale Insurance and Financial Services Inc. 12,780 8,607 67.35% Legacy General Insurance Company 937 536 57.20% Liberty Life Assurance Company of Boston 0 47 N/A Life Insurance Company of North America 3,412 573 16.79% Lloyd's Underwriters 10,425 5,518 52.93% LS-Travel, Insurance Company 1,557 454 29.16% National Bank Life Insurance Company 316 87 27.53% Old Republic Insurance Company of Canada 1,897 597 31.47% Orion Travel Insurance Company 11,534 5,912 51.26% Pavonia Life Insurance Company of Michigan 407 155 38.08% PBC Health Benefits Society 1,895 1,971 104.01% Primerica Life Insurance Company of Canada 2 0 0.00% RBC Insurance Company of Canada 18,326 9,723 53.06% RBC Life Insurance Company 88,420 54,098 61.18% Reliable Life Insurance Company 183 276 150.82% Royal & Sun Alliance Insurance Company of Canada 17,139 153 0.89% Scotia Life Insurance Company 9,198 1,513 16.45% SSQ Insurance Company Inc. 7,943 5,709 71.87% SSQ Life Insurance Company Inc. 59,938 40,624 67.78% Sun Life Assurance Company of Canada 568,968 380,236 66.83% TD Life Insurance Company 14,369 2,536 17.65% The Canada Life Assurance Company 135,855 13,325 9.81% The Empire Life Insurance Company 31,386 22,394 71.35% The Equitable Life Insurance Company of Canada 67,355 47,633 70.72% The Excellence Life Insurance Company 3,670 294 8.01% The Great-West Life Assurance Company 625,553 443,094 70.83% The Guarantee Company of North America 11 1 9.09% The Independent Order of Foresters 9 6 66.67% The Manufacturers Life Insurance Company 490,515 290,940 59.31% The Order of United Commercial Travelers of America 22 20 90.91%

The Union Life Mutual Assurance Company 19 0 0.00% The Wawanesa Life Insurance Company 4,374 3,353 76.66% Trans Global Life Insurance Company 707 11 1.56%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 8

ACCIDENT AND SICKNESS INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Trisura Guarantee Insurance Company 216 12 5.56% Triton Insurance Company 4,152 1,609 38.75% Western Life Assurance Company 17,507 9,723 55.54% Zurich Insurance Company Ltd 18 0 0.00% Totals and Average Claim Ratios 2,839,405 1,670,590 58.80%

*CLAIMS RATIO: See page 7 for definition. AIRCRAFT INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

AIG Insurance Company of Canada 3,095 3,247 104.91% Allianz Global Risks US Insurance Company 5,987 3,029 50.59% Aspen Insurance U.K. Limited -3 -31 N/A Berkley Insurance Company 40 0 0.00% Canadian Applicators Insurance Reciprocal 863 175 20.28% Chubb Insurance Company of Canada 435 -41 -9.43% Intact Insurance Company 554 492 88.81% International Insurance Company of Hannover SE 342 332 97.08% Liberty Mutual Insurance Company 406 -69 -17.00% Lloyd's Underwriters 15,251 6,844 44.88% Mitsui Sumitomo Insurance Company, Limited 717 416 58.02% National Liability & Fire Insurance Company 1,679 1,348 80.29% Northbridge General Insurance Corporation 1,686 40 2.37% Old Republic Insurance Company of Canada 110 81 73.64% Royal & Sun Alliance Insurance Company of Canada 0 16 N/A Starr Insurance & Reinsurance Limited 52 37 71.15% Temple Insurance Company 2,034 777 38.20% The Sumitomo Marine and Fire Insurance Company Limited 717 416 58.02%

Westport Insurance Corporation 3,198 701 21.92% XL Specialty Insurance Company 907 1,111 122.49% Totals and Average Claim Ratios 38,070 18,921 49.70%

*CLAIMS RATIO: See page 7 for definition.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 9

AUTOMOBILE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

AIG Insurance Company of Canada 10,784 14,206 131.73% Alberta Motor Association Insurance Company 200,397 187,885 93.76% Alberta Municipal Insurance Exchange 1,010 767 75.94% Allianz Global Risks US Insurance Company 87 -1,146 -1,317.24% Allstate Insurance Company of Canada 102,774 71,136 69.22% American Road Insurance Company 2,523 5,244 207.85% Arch Insurance Canada Ltd. 797 119 14.90 % Ascentus Insurance Ltd. 0 2 N/A Aviva General Insurance Company 77,359 61,330 79.28% Aviva Insurance Company of Canada 260,689 196,355 75.32% Belair Insurance Company Inc. 68,057 42,299 62.15% Canadian Direct Insurance Incorporated 3,921 31,250 796.99% Canadian Farm Insurance Corp. 4,860 2,145 44.14% Canadian Northern Shield Insurance Company 1 0 0.00% Certas Direct Insurance Company 22,155 26,042 117.54% Certas Home and Auto Insurance Company 166,275 139,485 83.89% Chubb Insurance Company of Canada 18,849 15,077 79.99% Continental Casualty Company 11,007 6,788 61.67% Co-operators General Insurance Company 323,767 259,829 80.25% CorePointe Insurance Company 0 250 N/A Coseco Insurance Company 24,336 22,321 91.72% Cumis General Insurance Company 4,236 3,812 89.99% Echelon Insurance 12,787 10,980 85.87% Economical Mutual Insurance Company 155,327 134,557 86.63% Electric Insurance Company 292 132 45.21% Elite Insurance Company 17,839 9,386 52.62% Everest Insurance Company of Canada 3 -18 -600.00% Federal Insurance Company 16 2 12.50% Federated Insurance Company of Canada 22,176 17,292 77.98% Fortress Insurance Company 330 947 286.97% Great American Insurance Company 1 0 0.00% Hartford Fire Insurance Company 249 58 23.29% Intact Insurance Company 766,967 606,416 79.07% Jevco Insurance Company 0 1,984 N/A Liberty Mutual Insurance Company 7,059 3,366 47.68% Lloyd's Underwriters 9,486 6,451 68.01% Mennonite Mutual Insurance Co. (Alberta) Ltd. 20 0 0.00% Millennium Insurance Corporation / La Corporation d’Assurance Millennium 19,655 18,781 95.55%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 10

AUTOMOBILE INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Mitsui Sumitomo Insurance Company, Limited 520 168 32.31% Motors Insurance Corporation 0 43 N/A Northbridge Commercial Insurance Corporation 29,537 20,643 69.89% Northbridge General Insurance Corporation 50,135 31,775 63.38% Northbridge Personal Insurance Corporation 1,374 689 50.15% Novex Insurance Company 78,927 66,458 84.20% Old Republic Insurance Company of Canada 6,697 5,370 80.19% Optimum West Insurance Company Inc. 3,235 1,631 50.42% Peace Hills General Insurance Company 75,874 54,860 72.30% Pembridge Insurance Company 12,418 8,015 64.54% Perth Insurance Company 0 -1 N/A Primmum Insurance Company 131,536 151,587 115.24% Protective Insurance Company 349 268 76.79% RBC Insurance Company of Canada -307 -1,536 500.33% Royal & Sun Alliance Insurance Company of Canada 73,479 55,380 75.37% Saskatchewan Mutual Insurance Company 1 0 0.00% Scottish & York Insurance Co. Limited 0 -20 N/A Security National Insurance Company 533,268 489,493 91.79% Sentry Insurance A Mutual Company 83 27 32.53% SGI CANADA Insurance Services Ltd. 66,552 47,978 72.09% Sonnet Insurance Company 817 198 24.24% St. Paul Fire and Marine Insurance Company 7,225 -6,476 -89.63% TD Home and Auto Insurance Company 14,849 14,970 100.81% The Dominion of Canada General Insurance Company 77,704 65,414 84.18%

The Guarantee Company of North America 5,208 3,351 64.34% The Missisquoi Insurance Company 5 0 0.00% The Nordic Insurance Company of Canada 0 -237 N/A The Personal Insurance Company 109,000 114,329 104.89% The Portage La Prairie Mutual Insurance Company 19,176 17,510 91.31% The Sovereign General Insurance Company 16,938 12,205 72.06% The Sumitomo Marine and Fire Insurance Company Limited 520 168 32.31%

The Wawanesa Mutual Insurance Company 544,734 585,057 107.40% Tokio Marine & Nichido Fire Insurance Co., Ltd. 472 417 88.35% Traders General Insurance Company 46,960 36,837 78.44% Travelers Insurance Company of Canada 5,829 2,721 46.68% Unica Insurance Inc. 0 53 N/A Unifund Assurance Company 157,578 121,622 77.18% Waterloo Insurance Company 16,414 14,616 89.05%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 11

AUTOMOBILE INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

XL Specialty Insurance Company 425 266 62.59% Zenith Insurance Company 1,234 575 46.60% Zurich Insurance Company Ltd 16,606 24,463 147.31% Totals and Average Claim Ratios 4,422,234 3,837,138 86.80%

*CLAIMS RATIO: See page 7 for definition.

BOILER AND MACHINERY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Affiliated F.M. Insurance Company 533 40 7.50% AIG Insurance Company of Canada 5,555 1,722 31.00% Allianz Global Risks US Insurance Company 2,036 -1,076 -52.85% Aviva Insurance Company of Canada 5,126 590 11.51% AXIS Reinsurance Company (Canadian Branch) 0 5 N/A Berkley Insurance Company 5 2 40.00% Canadian Northern Shield Insurance Company 20 -14 -70.00% Certas Home and Auto Insurance Company 0 295 N/A Chubb Insurance Company of Canada 1,214 -78 -6.43% Continental Casualty Company 622 48 7.72% Co-operators General Insurance Company 1,849 344 18.60% Cumis General Insurance Company 78 7 8.97% Ecclesiastical Insurance Office Public Limited Company 292 -13 -4.45%

Economical Mutual Insurance Company 1,177 54 4.59% Everest Insurance Company of Canada 75 33 44.00% Factory Mutual Insurance Company 7,559 14,274 188.83% Federated Insurance Company of Canada 489 401 82.00% Gore Mutual Insurance Company 244 0 0.00% Great American Insurance Company 54 0 0.00% Intact Insurance Company 4,548 -654 -14.38% Liberty Mutual Insurance Company 0 3 N/A Lloyd's Underwriters 14,126 18,517 131.08% Millennium Insurance Corporation / La Corporation d’Assurance Millennium 93 148 159.14%

Mitsui Sumitomo Insurance Company, Limited 28 0 0.00% National Liability & Fire Insurance Company 693 15 2.16% Northbridge General Insurance Corporation 858 113 13.17% Novex Insurance Company 9 0 0.00% Optimum West Insurance Company Inc. 54 1 1.85%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 12

BOILER AND MACHINERY INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Royal & Sun Alliance Insurance Company of Canada 9,685 7,914 81.71% Saskatchewan Mutual Insurance Company 90 4 4.44% SGI CANADA Insurance Services Ltd. 548 53 9.67% St. Paul Fire and Marine Insurance Company 223 -79 -35.43% Temple Insurance Company 1,475 -242 -16.41% The Boiler Inspection and Insurance Company of Canada 3,781 1,261 33.35%

The Dominion of Canada General Insurance Company 697 -341 -48.92%

The Guarantee Company of North America 93 25 26.88% The Mutual Fire Insurance Company of British Columbia 56 10 17.86%

The Sovereign General Insurance Company 615 65 10.57% The Sumitomo Marine and Fire Insurance Company Limited 28 0 0.00%

The Wawanesa Mutual Insurance Company 4,129 864 20.93% Tokio Marine & Nichido Fire Insurance Co., Ltd. 1 0 0.00% Travelers Insurance Company of Canada 154 10 6.49% Westport Insurance Corporation 0 993 N/A Wynward Insurance Group 759 94 12.38% XL Specialty Insurance Company 0 58 N/A Zurich Insurance Company Ltd 1,290 3,615 280.23% Totals and Average Claim Ratios 70,961 49,081 69.17%

*CLAIMS RATIO: See page 7 for definition.

CREDIT INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

AIG Insurance Company of Canada 715 3,249 454.41% Allied World Specialty Insurance Company 60 15 25.00% Compagnie Francaise d'Assurance pour le Commerce Exterieur 738 91 12.33%

Euler Hermes North America Insurance Company 1,707 945 55.36% Lloyd's Underwriters 154 -269 -174.68% The Guarantee Company of North America 207 6 2.90% Totals and Average Claim Ratios 3,581 4,037 112.70%

*CLAIMS RATIO: See page 7 for definition.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 13

CREDIT PROTECTION INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

American Bankers Insurance Company of Florida 26,054 10,326 39.63% Arch Insurance Canada Ltd. 3 9 300.00% Legacy General Insurance Company 675 75 11.11% Millennium Insurance Corporation / La Corporation d’Assurance Millennium 440 32 7.27%

Trisura Guarantee Insurance Company 199 8 4.02% Totals and Average Claim Ratios 27,371 10,450 38.20%

*CLAIMS RATIO: See page 7 for definition.

EQUIPMENT WARRANTY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Fenchurch General Insurance Company 3,183 905 28.43% First North American Insurance Company 94 43 45.74% Industrial Alliance Pacific General Insurance Corporation

14,258 2,748 19.27%

Lloyd's Underwriters 1,001 -84 -8.39% Millennium Insurance Corporation / La Corporation d’Assurance Millennium

33,621 10,933 32.52%

Motors Insurance Corporation 4,194 1,467 34.98% Trisura Guarantee Insurance Company 3,586 722 20.13% Virginia Surety Company, Inc. 527 278 52.75% Totals and Average Claim Ratios 60,464 17,012 28.14%

*CLAIMS RATIO: See page 7 for definition.

FIDELITY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

AIG Insurance Company of Canada 867 6,651 767.13% Arch Insurance Canada Ltd. 29 -171 -589.70% Aviva Insurance Company of Canada 127 22 17.32% AXIS Reinsurance Company (Canadian Branch) 12 -6 -50.00% Berkley Insurance Company 28 0 0.00% Certas Home and Auto Insurance Company 3 0 0.00% Chubb Insurance Company of Canada 1,931 528 27.34% Continental Casualty Company 118 -26 -22.03% Co-operators General Insurance Company 97 7 7.22% Cumis General Insurance Company 1,522 1,420 93.30% Economical Mutual Insurance Company 201 65 32.34% Federated Insurance Company of Canada 82 -25 -30.49%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 14

FIDELITY INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Great American Insurance Company 269 -19 -7.06% Liberty Mutual Insurance Company 591 447 75.63% Lloyd's Underwriters 821 -888 -108.16% Mitsui Sumitomo Insurance Company, Limited 28 0 0.00% Northbridge General Insurance Corporation 233 38 16.31% Optimum West Insurance Company Inc. 1 0 0.00% Royal & Sun Alliance Insurance Company of Canada 272 53 19.49% Saskatchewan Mutual Insurance Company 7 0 0.00% SGI CANADA Insurance Services Ltd. 14 57 407.14% St. Paul Fire and Marine Insurance Company 22 -64 -290.91% The Dominion of Canada General Insurance Company 126 46 36.51%

The Guarantee Company of North America 2,134 215 10.07% The Personal Insurance Company 13 0 0.00% The Sovereign General Insurance Company 40 1 2.50% The Sumitomo Marine and Fire Insurance Company Limited 28 0 0.00%

Travelers Insurance Company of Canada 1,401 -71 -5.07% Trisura Guarantee Insurance Company 128 16 12.50% Triton Insurance Company 28 0 0.00% Western Surety Company 2 0 0.00% Zurich Insurance Company Ltd 43 -2 -4.65% Totals and Average Claim Ratios 11,218 8,294 73.90%

*CLAIMS RATIO: See page 7 for definition.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 15

HAIL INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Additional Municipal Hail Limited 661 138 20.88% Allianz Global Risks US Insurance Company 8,360 24,850 297.25% Chubb Insurance Company of Canada 1,728 1,516 87.73% Northbridge General Insurance Corporation 4,275 4,525 105.85% Palliser Insurance Company Limited 26,195 22,618 86.34% Totals and Average Claim Ratios 41,219 53,647 130.15%

*CLAIMS RATIO: See page 7 for definition.

HOME WARRANTY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Echelon Insurance -5,309 -19 0.36% Lloyd's Underwriters 0 27 N/A Millennium Insurance Corporation / La Corporation d’Assurance Millennium 321 2 0.62%

Royal & Sun Alliance Insurance Company of Canada 482 234 48.55% The New Home Warranty Insurance (Canada) Corporation 9,090 -252 -2.77%

Travelers Insurance Company of Canada 1,615 250 15.48% Totals and Average Claim Ratios 6,199 242 3.90%

*CLAIMS RATIO: See page 7 for definition. ** Home Warranty Premiums and Claims figures are also included in the Property Class of Insurance. This information is provided for enhanced disclosure only.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 16

LEGAL EXPENSE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Belair Insurance Company Inc. 56 0 0.00% Co-operators General Insurance Company 20 0 0.00% DAS Legal Protection Insurance Company Limited 2,212 661 29.88% Echelon Insurance 7 0 0.00% Intact Insurance Company 667 460 68.97% Lloyd's Underwriters 600 272 45.33% Novex Insurance Company 167 352 210.78% The Guarantee Company of North America 71 -53 -74.65% Totals and Average Claim Ratios 3,800 1,692 44.53%

*CLAIMS RATIO: See page 7 for definition.

LIABILITY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

AIG Insurance Company of Canada 66,671 12,858 19.29% Alberta Lawyers Insurance Exchange 4,100 4,458 108.73% Alberta Municipal Insurance Exchange 7,195 3,961 55.05% Alberta Roofing Contractors Reciprocal Insurance Exchange 381 262 68.77%

Alberta School Boards Insurance Exchange 2,288 989 43.23% Allianz Global Risks US Insurance Company 9,462 1,767 18.67% Allied World Specialty Insurance Company 915 386 42.19% Arch Insurance Canada Ltd. 4,958 1,644 33.20% Aspen Insurance U.K. Limited 795 -7,891 -992.58% Associated Electric & Gas Insurance Services Limited 5,834 -3,085 -52.88%

Aviva Insurance Company of Canada 47,153 25,162 53.36% AXIS Reinsurance Company (Canadian Branch) 9,496 4,289 45.17% Belair Insurance Company Inc. 6 0 0.00% Berkley Insurance Company 7,252 -98 -1.35% Canadian Direct Insurance Incorporated -8 753 N/A Canadian Lawyers Insurance Association 1,351 4,671 345.74% Canadian Lawyers Liability Assurance Society 1,451 -37 -2.55% Canadian Northern Shield Insurance Company 288 31 10.76% Canadian Universities Reciprocal Insurance Exchange 1,339 350 26.14%

Canassurance Insurance Company 7 36 514.29% Certas Home and Auto Insurance Company 4,712 124 2.63% Chubb Insurance Company of Canada 54,155 61,729 113.99%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 17

LIABILITY INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Community Newspapers Reciprocal Insurance Exchange 12 0 0.00%

Continental Casualty Company 15,794 863 5.46% Co-operators General Insurance Company 53,876 16,735 31.06% Coseco Insurance Company 0 99 0.00% Cumis General Insurance Company 1,240 845 68.15% Ecclesiastical Insurance Office Public Limited Company 3,754 509 13.56%

Echelon Insurance 411 100 24.33% Economical Mutual Insurance Company 16,359 3,158 19.30% Electric Insurance Company 1,188 -110 -9.26% Employers Insurance Company of Wausau 0 1 N/A Energy Insurance Group -13 -4,222 N/A Everest Insurance Company of Canada 5,965 3,072 51.50% Federal Insurance Company 0 -13 N/A Federated Insurance Company of Canada 13,464 2,592 19.25% FedGas Insurance Reciprocal Exchange 214 118 55.14% Genesis Reciprocal Insurance Exchange 5,125 3,373 65.81% Gore Mutual Insurance Company 1,052 670 63.69% Great American Insurance Company 4,280 444 10.37% Hartford Fire Insurance Company 751 1,243 165.51% HDI Global SE Canada Branch 2,193 1,117 50.93% Healthcare Insurance Reciprocal of Canada 2,113 2,227 105.40% Intact Insurance Company 80,040 33,658 42.05% International Insurance Company of Hannover SE 2,019 514 25.46% Ironshore Insurance Ltd. 4,780 2,670 55.86% Jevco Insurance Company 0 -919 N/A Jewelers Mutual Insurance Company 83 0 0.00% La Capitale General Insurance Inc. 6 0 0.00% Liberty Mutual Insurance Company 26,228 17,595 67.08% Lloyd's Underwriters 217,384 292,595 134.60% MAX Canada Insurance Company 53 19 35.85% Mennonite Mutual Insurance Co. (Alberta) Ltd. 881 151 17.15% Millennium Insurance Corporation / La Corporation d’Assurance Millennium 612 549 89.71%

Mitsui Sumitomo Insurance Company, Limited 1,274 27 2.12% National Liability & Fire Insurance Company 4,560 7,040 154.39% Northbridge Commercial Insurance Corporation 148 -86 -58.11% Northbridge General Insurance Corporation 25,494 6,632 26.01% Northbridge Personal Insurance Corporation 1 -3,179 N/A Novex Insurance Company 760 -833 -109.61%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 18

LIABILITY INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Old Republic Insurance Company of Canada 561 209 37.25% Omega General Insurance Company 407 -66 -16.22% Optimum West Insurance Company Inc. 937 509 54.32% Primmum Insurance Company 345 144 41.74% Provincial Health Authorities of Alberta Liability and Property Insurance Plan 23,025 25,452 110.54%

Real Estate Insurance Exchange 3,620 2,774 76.63% Red River Valley Mutual Insurance Company 161 0 0.00% Royal & Sun Alliance Insurance Company of Canada 25,321 9,205 36.35% Saskatchewan Mutual Insurance Company 2,578 2,310 89.60% SCOR Insurance - Canadian Branch 1,061 584 55.04% Scottish & York Insurance Co. Limited 0 -803 N/A Security National Insurance Company 5,350 3,030 56.64% Sentry Insurance A Mutual Company 16 -2 -12.50% SGI CANADA Insurance Services Ltd. 8,350 2,155 25.81% Sompo Japan Nipponkoa Insurance Inc. 182 32 17.58% Sonnet Insurance Company 15 5 33.33% St. Paul Fire and Marine Insurance Company 6,895 -8,249 -119.64% Starr Insurance & Reinsurance Limited 1,219 719 58.98% T.H.E. Insurance Company 10 32 320.00% TD Home and Auto Insurance Company 5,006 2,886 57.65% Temple Insurance Company 10,679 4,401 41.21% The Dominion of Canada General Insurance Company 9,783 -15,248 -155.86%

The Guarantee Company of North America 2,405 1,135 47.19% The Mutual Fire Insurance Company of British Columbia 569 160 28.10%

The Nordic Insurance Company of Canada 0 -3,241 N/A The Personal Insurance Company 129 0 0.00% The Portage La Prairie Mutual Insurance Company 852 1,385 162.56% The Sovereign General Insurance Company 15,840 2,039 12.87% The Sumitomo Marine and Fire Insurance Company Limited 1,274 27 2.12%

The Wawanesa Mutual Insurance Company 13,941 3,228 23.15% Tokio Marine & Nichido Fire Insurance Co., Ltd. 61 -99 -162.30% Travelers Insurance Company of Canada 9,348 3,092 33.08% Trisura Guarantee Insurance Company 4,963 1,136 22.89% Unica Insurance Inc. 6 0 0.00% Urban School Insurance Consortium Reciprocal (USIC) 0 1,293 0.00%

Waterloo Insurance Company 122 165 135.25% Westport Insurance Corporation 8,435 781 9.26%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 19

LIABILITY INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Wynward Insurance Group 4,162 427 10.26% XL Reinsurance America Inc. 2,791 1,607 57.58% XL Specialty Insurance Company 13,801 7,178 52.01% Zenith Insurance Company 1 0 0.00% Zurich Insurance Company Ltd 41,119 12,429 30.23% Totals and Average Claim Ratios 947,242 564,434 59.60%

*CLAIMS RATIO: See page 7 for definition.

LIFE INSURANCE – DIRECT PREMIUMS WRITTEN IN THE PROVINCE OF ALBERTA

FOR 2016 (in $000s) Name of Licensed Insurance Company

Insurance Premiums Consideration for Annuities Grand Total Individual Group Total Individual Group Total

Actra Fraternal Benefit Society 0 25 25 0 0 0 25

Aetna Life Insurance Company 1 213 214 0 0 0 214

Allianz Life Insurance Company of North America

8 1 9 0 0 0 9

American Bankers Life Assurance Company of Florida

45 45,061 45,106 0 0 0 45,106

American Health and Life Insurance Company 1 2,066 2,067 0 0 0 2,067

American Income Life Insurance Company 16,417 0 16,417 0 0 0 16,417

Assumption Mutual Life Insurance Company 3,824 189 4,013 1,396 1 1,397 5,410

Assurant Life of Canada 282 1,862 2,144 758 23,950 24,708 26,852

Blue Cross Life Insurance Company of Canada 151 12,415 12,566 0 0 0 12,566

BMO Life Assurance Company 46,838 92 46,930 4,412 6,703 11,115 58,045

BMO Life Insurance Company 0 1,266 1,266 0 648 648 1,914

Canadian Premier Life Insurance Company 0 20,126 20,126 0 0 0 20,126

Chubb Life Insurance Company of Canada 527 12,185 12,712 0 0 0 12,712

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 20

LIFE INSURANCE – DIRECT PREMIUMS CONTINUED… (In $000s)

Name of Licensed Insurance Company

Insurance Premiums Consideration for Annuities Grand Total Individual Group Total Individual Group Total

CIBC Life Insurance Company Limited 829 0 829 0 0 0 829

Combined Insurance Company of America 112 -40 72 0 0 0 72

Connecticut General Life Insurance Company 79 0 79 0 0 0 79

Co-operators Life Insurance Company 55,942 6,906 62,848 2,360 43 2,403 65,251

Croatian Fraternal Union of America 6 0 6 0 0 0 6

Cumis Life Insurance Company 2,468 20,305 22,773 0 0 0 22,773

Desjardins Financial Security Life Assurance Company

32,796 21,807 54,603 6,427 1,421 7,848 62,451

FaithLife Financial 3,618 0 3,618 436 0 436 4,054 First Canadian Insurance Corporation / La Corporation d'Assurance First Canadian

0 29,082 29,082 0 0 0 29,082

Foresters Life Insurance Company 8,234 1,014 9,248 2 437 439 9,687

Gerber Life Insurance Company 464 0 464 0 0 0 464

Humania Assurance Inc. 353 1 354 0 0 0 354 Industrial Alliance Insurance and Financial Services Inc.

158,811 14,225 173,036 175,528 37,389 212,917 385,953

ivari 135,872 0 135,872 -26 0 -26 135,846 Knights of Columbus 27,617 0 27,617 58 0 58 27,675 La Capitale Financial Security Insurance Company

1,191 2 1,193 11 0 11 1,204

La Capitale Insurance and Financial Services Inc.

1,481 1,683 3,164 2,401 0 2,401 5,565

Life Insurance Company of North America 0 1,988 1,988 0 0 0 1,988

London Life Insurance Company 214,946 0 214,946 3,691 45,272 48,963 263,909

Manulife Assurance Company of Canada 0 0 0 181 95 276 276

National Bank Life Insurance Company 62 415 477 0 0 0 477

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 21

LIFE INSURANCE – DIRECT PREMIUMS CONTINUED… (In $000s)

Name of Licensed Insurance Company

Insurance Premiums Consideration for Annuities Grand Total Individual Group Total Individu

al Group Total

New York Life Insurance Company 39 665 704 0 0 0 704

Pavonia Life Insurance Company of Michigan 23 1,105 1,128 0 0 0 1,128

Primerica Life Insurance Company of Canada

45,531 0 45,531 0 0 0 45,531

RBC Life Insurance Company 92,068 1,558 93,626 4,124 4,124 97,750

Reliable Life Insurance Company 579 0 579 0 0 0 579

Scotia Life Insurance Company 556 1,575 2,131 0 0 0 2,131

Sons of Scotland Benevolent Association 4 0 4 0 0 0 4

SSQ Insurance Company Inc. 6,785 8,502 15,287 0 0 0 15,287

SSQ Life Insurance Company Inc. 1 11,704 11,705 1,773 0 1,773 13,478

Sun Life Assurance Company of Canada 349,254 182,291 531,545 56,603 108,049 164,652 696,197

TD Life Insurance Company 2,737 9 2,746 0 0 0 2,746

The Canada Life Assurance Company 299,320 226,535 525,855 7,120 78 7,198 533,053

The Empire Life Insurance Company 30,020 3,136 33,156 9,819 563 10,382 43,538

The Equitable Life Insurance Company of Canada

78,196 7,987 86,183 10,650 363 11,013 97,196

The Excellence Life Insurance Company 323 0 323 0 0 0 323

The Grand Orange Lodge of British America Benefit Fund

4 0 4 0 0 0 4

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 22

LIFE INSURANCE – DIRECT PREMIUMS CONTINUED… (In $000s)

Name of Licensed Insurance Company

Insurance Premiums Consideration for Annuities Grand Total Individual Group Total Individu

al Group Total

The Great-West Life Assurance Company 82,139 134,903 217,042 9,971 1,763 11,734 228,776

The Independent Order of Foresters 4,327 0 4,327 108 0 108 4,435

The Manufacturers Life Insurance Company 327,544 119,293 446,837 19,214 59,085 78,299 525,136

The Order of United Commercial Travelers of America

9 0 9 0 0 0 9

The Union Life Mutual Assurance Company 160 0 160 0 0 0 160

The Wawanesa Life Insurance Company 16,273 1,071 17,344 11,933 0 11,933 29,277

Trans Global Life Insurance Company 0 115 115 0 0 0 115

Ukrainian Fraternal Society of Canada 3 0 3 0 0 0 3

United American Insurance Company 15 0 15 0 0 0 15

Western Life Assurance Company 11,615 12,569 24,184 0 0 0 24,184

Totals 2,060,500 905,907 2,966,407 328,950 285,860 614,810 3,581,217

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 23

LIFE INSURANCE – DIRECT CLAIMS, ANNUITIES, DIVIDENDS IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company

Death Claims ($000)

Dividends ($000)

Annuity ($000)

Grand Total

Actra Fraternal Benefit Society 51 0 0 51 Aetna Life Insurance Company -1 0 0 -1 Allianz Life Insurance Company of North America

91 0 0 91

American Bankers Life Assurance Company of Florida

4,069 0 0 4,069

American Health and Life Insurance Company

462 0 0 462

American Income Life Insurance Company 3,185 0 0 3,185 Assumption Mutual Life Insurance Company 690 28 1,320 2,038 Assurant Life of Canada 3,134 0 6,501 9,635 AXA Equitable Life Insurance Company 0 0 4 4 Blue Cross Life Insurance Company of Canada

7,393 0 0 7,393

BMO Life Assurance Company 21,025 171 9,298 30,494 BMO Life Insurance Company 226 0 137 363 Canadian Premier Life Insurance Company 2,565 0 0 2,565 Chubb Life Insurance Company of Canada 168 0 0 168 CIBC Life Insurance Company Limited 423 0 0 423 Combined Insurance Company of America 87 0 0 87 Connecticut General Life Insurance Company

0 0 2 2

Co-operators Life Insurance Company 26,437 373 4,434 31,244 Croatian Fraternal Union of America 6 0 0 6 Cumis Life Insurance Company 7,751 3,412 201 11,364 Desjardins Financial Security Life Assurance Company

29,423 1,849 16,210 47,482

FaithLife Financial 3,430 778 583 4,791 First Canadian Insurance Corporation / La Corporation d'Assurance First Canadian

3,078 0 0 3,078

Foresters Life Insurance Company 5,664 301 4,118 10,083 Gerber Life Insurance Company 68 0 0 68 Humania Assurance Inc. 1 0 0 1

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 24

LIFE INSURANCE – DIRECT CLAIMS, ANNUITIES, DIVIDENDS, CONTINUED…

Name of Licensed Insurance Company

Death Claims ($000)

Dividends ($000)

Annuity ($000)

Grand Total

Industrial Alliance Insurance and Financial Services Inc.

55,170 1,326 211,900 268,396

ivari 67,164 2 2,249 69,415 Jackson National Life Insurance Company 3 0 0 3 Knights of Columbus 9,007 4,120 1,057 14,184 La Capitale Financial Security Insurance Company

1,991 0 53 2,044

La Capitale Insurance and Financial Services Inc.

1,114 0 1,159 2,273

Life Insurance Company of North America 387 0 43 430 London Life Insurance Company 87,437 64,375 73,933 225,745 Manulife Assurance Company of Canada 0 0 1,112 1,112 National Bank Life Insurance Company 118 0 0 118 New York Life Insurance Company 272 448 0 720 Pavonia Life Insurance Company of Michigan 429 0 0 429 Primerica Life Insurance Company of Canada

19,924 0 0 19,924

RBC Life Insurance Company 52,221 117 524 52,862 Reliable Life Insurance Company 199 0 0 199 Scotia Life Insurance Company 955 0 0 955 Sons of Scotland Benevolent Association 11 0 0 11 SSQ Insurance Company Inc. 4,130 0 0 4,130 SSQ Life Insurance Company Inc. 6,281 -197 334 6,418 Sun Life Assurance Company of Canada 263,350 73,765 208,064 545,179 TD Life Insurance Company 1,250 0 0 1,250 The Canada Life Assurance Company 88,052 36,295 39,467 163,814 The Empire Life Insurance Company 13,963 1,704 13,987 29,654 The Equitable Life Insurance Company of Canada

26,975 3,453 8,216 38,644

The Grand Orange Lodge of British America Benefit Fund

19 0 0 19

The Great-West Life Assurance Company 145,737 12,370 30,582 188,689 The Independent Order of Foresters 3,126 1,153 711 4,990 The Manufacturers Life Insurance Company 244,484 21,132 205,839 471,455 The Order of United Commercial Travelers of America

23 0 0 23

The Union Life Mutual Assurance Company 318 0 5 323 The Wawanesa Life Insurance Company 5,930 668 11,648 18,246 Trans Global Life Insurance Company 14 0 0 14 Ukrainian Fraternal Society of Canada 29 0 0 29 Western Life Assurance Company 4,230 0 2 4,232 Totals 1,223,739 227,643 853,693 2,305,075

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 25

MARINE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

AIG Insurance Company of Canada 16,195 -2,051 -12.66% Allianz Global Risks US Insurance Company 1,376 192 13.95% Associated Electric & Gas Insurance Services Limited 40 -15 -37.50% Aviva Insurance Company of Canada 167 111 66.47% Berkley Insurance Company 741 -15 -2.02% Certas Home and Auto Insurance Company 704 526 74.72% Chubb Insurance Company of Canada 91 64 70.33% Continental Casualty Company 1,216 2,174 178.78% Co-operators General Insurance Company 2,172 1,021 47.01% Elite Insurance Company 6,921 3,961 57.23% Great American Insurance Company 34 97 285.29% HDI Global SE Canada Branch 137 54 39.42% Intact Insurance Company 1,178 398 33.79% International Insurance Company of Hannover SE 2,306 0 0.00% Liberty Mutual Insurance Company 294 219 74.49% Lloyd's Underwriters 4,156 755 18.17% National Liability & Fire Insurance Company 0 1 0.00% Northbridge General Insurance Corporation 753 3 0.40% Royal & Sun Alliance Insurance Company of Canada 697 472 67.72% SCOR Insurance - Canadian Branch 277 7 2.53% St. Paul Fire and Marine Insurance Company 112 -46 -41.07% Starr Insurance & Reinsurance Limited 105 12 11.43% Sunderland Marine Insurance Company Limited [Canada Branch] 1,013 444 43.83%

The Sovereign General Insurance Company 2,172 1,021 47.01% Traders General Insurance Company 74 37 50.00% Travelers Insurance Company of Canada -9 -15 166.67% Westport Insurance Corporation 870 0 0.00% XL Specialty Insurance Company 252 -12 -4.76% Zurich Insurance Company Ltd 1,233 -317 -25.71% Totals and Average Claim Ratios 45,283 9,092 20.08%

*CLAIMS RATIO: See page 7 for definition.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 26

MORTGAGE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Canada Guaranty Mortgage Insurance Company 75,402 11,220 14.88% FCT Insurance Company Ltd. 769 633 82.31% Genworth Financial Mortgage Insurance Company Canada 119,356 64,383 53.94%

MIC Insurance Company Canada 0 -13 N/A Totals and Average Claim Ratios 195,527 76,223 38.98%

*CLAIMS RATIO: See page 7 for definition.

PROPERTY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Affiliated F.M. Insurance Company 5,874 6,248 106.37% AIG Insurance Company of Canada 129,583 198,243 152.99% Alberta Motor Association Insurance Company 83,556 458,372 548.58% Alberta Municipal Insurance Exchange 9,559 6,947 72.67% Alberta School Boards Insurance Exchange 2,923 2,750 94.08% Allianz Global Risks US Insurance Company 21,624 66,332 306.75% Allied World Specialty Insurance Company 2,632 825 31.34% Allstate Insurance Company of Canada 53,151 54,541 102.62% Arch Insurance Canada Ltd. 3,756 29,649 791.50% American Bankers Insurance Company of Florida 22,947 10,496 45.74% Aspen Insurance U.K. Limited 1,619 1,899 117.29% Asset Protection Insurance Exchange 1,105 919 83.17% Associated Electric & Gas Insurance Services Limited 2,220 -1,565 -70.50% Automobile Dealers Insurance Exchange 999 3,210 321.32% Aviva General Insurance Company 27,075 62,957 232.53% Aviva Insurance Company of Canada 176,497 325,536 184.44% AXA Art Insurance Corporation 110 -10 -9.10% AXIS Reinsurance Company (Canadian Branch) 226 1,510 668.14% Belair Insurance Company Inc. 25,429 24,535 96.48% Berkley Insurance Company 100 -40 -40.00% Canadian Airports Reciprocal Insurance Exchange (CARIE) 1,681 482 28.67%

Canadian Direct Insurance Incorporated -193 17,785 N/A Canadian Egg Industry Reciprocal Alliance (CEIRA) 564 476 84.40% Canadian Farm Insurance Corp. 4,698 2,331 49.62% Canadian Northern Shield Insurance Company 769 1,166 151.63% Canadian Universities Reciprocal Insurance Exchange 2,465 359 14.56%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 27

PROPERTY INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Canassurance Insurance Company 19 3 15.79% Certas Direct Insurance Company 4,213 9,981 236.91% Certas Home and Auto Insurance Company 51,917 86,438 166.49% Chubb Insurance Company of Canada 53,451 47,316 88.52% Continental Casualty Company 22,430 25,664 114.42% Co-operators General Insurance Company 280,654 563,648 200.83% Coseco Insurance Company 12,847 47,913 372.95% Cumis General Insurance Company 11,290 7,176 63.56% Ecclesiastical Insurance Office Public Limited Company 9,598 24,561 255.90%

Echelon Insurance 7,380 2,284 30.95% Economical Mutual Insurance Company 93,362 147,295 157.77% Elite Insurance Company 41,089 53,370 129.89% Energy Insurance Group -13 -1,229 N/A Everest Insurance Company of Canada 6,198 20,168 325.40% Factory Mutual Insurance Company 20,725 27,469 132.54% Federal Insurance Company 5 -75 N/A Federated Insurance Company of Canada 17,294 25,976 150.20% FedGas Insurance Reciprocal Exchange 307 166 54.07% First North American Insurance Company 3,857 886 22.97% Genesis Reciprocal Insurance Exchange 7,385 771 10.44% GMS Insurance Inc. 4 2 48.18% Gore Mutual Insurance Company 3,583 8,670 241.98% Great American Insurance Company 5,954 3,824 64.23% Hartford Fire Insurance Company 5,012 2,511 50.10% HDI Global SE Canada Branch 6,621 4,439 67.04% Healthcare Insurance Reciprocal of Canada 17 70 411.76% Industrial Alliance Pacific General Insurance Corporation 168 665 395.83%

Intact Insurance Company 380,641 478,653 125.75% International Insurance Company of Hannover SE 9,496 12,501 131.64% Ironshore Insurance Ltd. 5,951 2,242 37.67% Jevco Insurance Company 0 120 0.00% Jewelers Mutual Insurance Company 585 373 63.76% La Capitale General Insurance Inc. 26 0 0.00% Legacy General Insurance Company 5 0 0.00% Liberty Mutual Insurance Company 14,344 15,848 110.49% Lloyd's Underwriters 195,695 510,458 260.84% MAX Canada Insurance Company 2,342 2,331 99.53% Mennonite Mutual Insurance Co. (Alberta) Ltd. 9,772 4,313 44.14%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 28

PROPERTY INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Millennium Insurance Corporation / La Corporation d’Assurance Millennium 41,190 23,642 57.40%

Mitsui Sumitomo Insurance Company, Limited 1,510 14,696 973.25% National Liability & Fire Insurance Company 4,949 1,701 34.37% Northbridge Commercial Insurance Corporation 2,892 1,653 57.16% Northbridge General Insurance Corporation 68,813 78,639 114.28% Northbridge Personal Insurance Corporation 1,886 702 37.22% Novex Insurance Company 42,981 101,295 235.67% Old Republic Insurance Company of Canada 708 122 17.23% Omega General Insurance Company 17,949 12,344 68.77% Optimum West Insurance Company Inc. 5,629 5,412 96.14% Orion Travel Insurance Company 7,194 3,144 43.70% Peace Hills General Insurance Company 81,397 155,459 190.99% Pembridge Insurance Company 10,262 13,406 130.64% Poultry Insurance Exchange Reciprocal of Canada 227 279 122.91% Primmum Insurance Company 61,065 173,387 283.94% Provincial Health Authorities of Alberta Liability and Property Insurance Plan 2,847 4,098 143.94%

RBC Insurance Company of Canada 1,741 1,569 90.12% Red River Valley Mutual Insurance Company 672 8,883 1,321.88% Royal & Sun Alliance Insurance Company of Canada 95,692 174,989 182.87% Saskatchewan Mutual Insurance Company 15,370 7,918 51.52% SCOR Insurance - Canadian Branch 4,573 465 10.17% Scottish & York Insurance Co. Limited 0 2 0.00% Security National Insurance Company 304,144 516,533 169.83% SGI CANADA Insurance Services Ltd. 48,747 33,280 68.27% Sompo Japan Nipponkoa Insurance Inc. 546 29 5.31% Sonnet Insurance Company 284 143 50.35% St. Paul Fire and Marine Insurance Company 9,429 39,595 419.93% Starr Insurance & Reinsurance Limited 8,921 4,951 55.50% T.H.E. Insurance Company 1 0 0.00% TD Home and Auto Insurance Company 13,860 14,670 105.84% Temple Insurance Company 11,599 39,160 337.62% The Boiler Inspection and Insurance Company of Canada 256 115 44.92%

The Dominion of Canada General Insurance Company 54,852 152,353 277.75%

The Guarantee Company of North America 8,263 18,564 224.66% The Mutual Fire Insurance Company of British Columbia 11,829 19,608 165.76%

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 29

PROPERTY INSURANCE CONTINUED…

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

The New Home Warranty Insurance (Canada) Corporation 9,090 -252 -2.77%

The Nordic Insurance Company of Canada 0 59 0.00% The Personal Insurance Company 37,127 60,090 161.85% The Portage La Prairie Mutual Insurance Company 19,813 10,470 52.84% The Sovereign General Insurance Company 22,903 35,046 153.02% The Sumitomo Marine and Fire Insurance Company Limited 1,510 14,696 973.25%

The Wawanesa Mutual Insurance Company 353,449 398,512 112.75% Tokio Marine & Nichido Fire Insurance Co., Ltd. 3,707 4,865 131.24% Traders General Insurance Company 24,141 108,752 450.49% Trans Global Insurance Company 1,834 107 5.83% Travelers Insurance Company of Canada 8,001 35,869 448.31% Trisura Guarantee Insurance Company 526 1,870 355.51% Triton Insurance Company 2,352 2,568 109.18% Unica Insurance Inc. 26 0 0.00% Unifund Assurance Company 73,893 184,487 249.67% Urban School Insurance Consortium Reciprocal (USIC) 3,187 943 29.59%

Virginia Surety Company, Inc. 0 287 0.00% Waterloo Insurance Company 7,145 12,969 181.51% Western Financial Insurance Company 9,777 5,118 52.35% Westport Insurance Corporation 12,009 23,663 197.04% Wynward Insurance Group 12,043 45,330 376.40% XL Specialty Insurance Company 21,032 28,098 133.60% Zenith Insurance Company 1,811 703 38.82% Zurich Insurance Company Ltd 52,733 111,337 211.13% Totals and Average Claim Ratios 3,485,573 6,121,147 175.60%

*CLAIMS RATIO: See page 7 for definition.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 30

SURETY INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

AIG Insurance Company of Canada 904 250 27.65% Aspen Insurance U.K. Limited 6 4 66.67% Aviva Insurance Company of Canada 7,198 781 10.85% Berkley Insurance Company 2 0 0.00% Canadian Farm Insurance Corp. 31 0 0.00% Certas Home and Auto Insurance Company 8 0 0.00% Chubb Insurance Company of Canada 4,130 235 5.69% Continental Casualty Company 867 1,496 172.55% Co-operators General Insurance Company 3,646 3,665 100.52% CorePointe Insurance Company 9 0 0.00% Echelon Insurance 991 136 13.72% Economical Mutual Insurance Company 204 91 44.61% Federated Insurance Company of Canada 56 79 141.07% Fenchurch General Insurance Company 266 391 146.94% Hartford Fire Insurance Company 1 0 0.00% Industrial Alliance Pacific General Insurance Corporation

37 1 2.70%

Intact Insurance Company 14,513 4,080 28.11% La Capitale General Insurance Inc. 85 -341 -401.18% Liberty Mutual Insurance Company 4,820 925 19.19% Lloyd's Underwriters 5,811 1,826 31.42% L'Unique General Insurance Inc. 1 -341 N/A Northbridge General Insurance Corporation 0 29 0.00% Royal & Sun Alliance Insurance Company of Canada 636 45 7.08% SGI CANADA Insurance Services Ltd. 224 -446 -199.11% St. Paul Fire and Marine Insurance Company 0 24 0.00% The Dominion of Canada General Insurance Company

47 81 172.34%

The Guarantee Company of North America 9,580 -3,405 -35.54% The Missisquoi Insurance Company 0 18 0.00% The Sovereign General Insurance Company 3,476 3,655 105.15% Travelers Insurance Company of Canada 10,733 3,973 37.02% Trisura Guarantee Insurance Company 6,892 711 10.32% Unica Insurance Inc. 84 0 0.00% Western Surety Company 6,759 -117 -1.73% Wynward Insurance Group 2 0 0.00% XL Specialty Insurance Company 71 -211 -297.18% Zurich Insurance Company Ltd 7,506 -32 -0.43% Totals and Average Claim Ratios 89,596 17,603 19.60%

*CLAIMS RATIO: See page 7 for definition.

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TITLE INSURANCE IN THE PROVINCE OF ALBERTA FOR 2016

Name of Licensed Insurance Company Premiums

Written ($000)

Total Direct Claims ($000)

Claims Ratio*

Chicago Title Insurance Company 2,841 62 2.18% FCT Insurance Company Ltd. 15,377 3,356 21.82% First American Title Insurance Company 9 -14 -155.56% Lawyers' Professional Indemnity Company 56 95 169.64% Stewart Title Guaranty Company 2,895 855 29.53% Totals and Average Claim Ratios 21,178 4,354 20.56%

*CLAIMS RATIO: See page 7 for definition.

SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 32

GLOSSARY A glossary has been provided to:

• define abbreviations used in this annual report; and • define application and technical terms used in this annual report.

Attorney for Service A person delegated to accept service of legal papers.

Claims Including Adjustment Expenses

All of the expenses related to the settlement of a claim and can include such costs an adjuster and legal fees in addition to the claim settlement amount.

Claims Ratio

The ration of direct claims and adjustment expenses to the total direct premiums written. The insurer is presumed to have earned a profit on a particular class of insurance when the ratio is 70% or less.

Classes of Insurance

For a definition of any of the classes of insurance used in this annual report, please refer to the Classes of Insurance Regulation, located on our website.

Consideration for Annuities Inclusion of any annuities reported.

Extra Provincial

An insurer that is formed by or incorporated under the laws of another province or territory.

Federal

An insurer that has authorization from the Office of the Superintendent of Financial Institutions (OSFI).

Fraternal Benefit Society

A body corporate that is a not for profit society, order or association formed for the purpose of making, with its members only, contracts of life, accident or sickness insurance in accordance with its institution, bylaws and rules and the Insurance Act.

Insurance Entities Insurance companies, reciprocal insurance exchanges and exempt entities. Provincial

An insurer that is formed by or incorporated under the laws of the province of Alberta.

Reciprocal Insurance Exchange

A group of subscribers exchanging reciprocal contracts of indemnity or inter- insurance with each other through a principle attorney as defined in section 78(b) of the Insurance Act.

NOTE: All premium and claims data presented on pages 6 - 32 of this report are based on the consolidated data reported on the provincial pages of the regulatory reporting provided by each insurer.

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SUPERINTENDENT OF INSURANCE – 2016 ANNUAL BUSINESS REPORT 1

The Office of the Superintendent of Insurance is a branch of

Financial Sector Regulation and Policy, a division of Alberta Treasury Board and Finance.

www.finance.alberta.ca/business/insurance