{"id":23380,"date":"2025-04-14T20:15:39","date_gmt":"2025-04-14T20:15:39","guid":{"rendered":"https:\/\/www.insurance-canada.ca\/?p=82866"},"modified":"2025-04-14T20:15:39","modified_gmt":"2025-04-14T20:15:39","slug":"canadian-insurance-market-remains-strong-amid-volatility-aon","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2025\/04\/14\/canadian-insurance-market-remains-strong-amid-volatility-aon\/","title":{"rendered":"Canadian Insurance Market Remains Strong Amid Volatility: Aon"},"content":{"rendered":"<p>Toronto, ON (Apr. 14, 2025) \u2013 Aon plc, a leading global professional services firm, has released its <a href=\"https:\/\/insights-north-america.aon.com\/ca-en\/managing-volatility\/insurance-market-canada-spring-report?utm_source=media&amp;utm_medium=org-digital&amp;utm_campaign=b_0_ri__all_crs_na-lp_na_ca&amp;utm_content=e__do\" target=\"_blank\" rel=\"nofollow noopener\">Spring 2025 Canadian Insurance Market Update<\/a>. Published in support of Aon\u2019s ongoing commitment to help Canadian clients make better decisions about risk management and insurance programs, the report finds that the Canadian Property and Casualty market has proved to be remarkably resilient. Despite record breaking natural catastrophe losses in 2024 totaling <span class=\"xn-money\">$9.1 billion<\/span>, the market remains well-capitalized with healthy competition and ample capacity.<\/p>\n<p>\u201cCurrent market conditions offer opportunities for clients to increase limits, broaden coverages, and address non-concurrency of terms from previous harder market conditions,\u201d said <span class=\"xn-person\">Russell Quilley<\/span>, head of Commercial Risk Solutions and chief broking officer for <span class=\"xn-location\">Canada<\/span> at Aon. \u201cWhile competitive, the pressure for growth must be balanced with profitability and the underwriting environment remains cautious and disciplined with the same level of technical scrutiny established during the last market cycle.\u201d<\/p>\n<p><b>Other key findings:<\/b><\/p>\n<ul type=\"disc\">\n<li>Premium increases and improved returns on investments in recent years has strengthened insurers positions.<\/li>\n<li>2024 was the costliest catastrophe year in Canadian history with an estimated <span class=\"xn-money\">CAD 9.08 billion<\/span> in insured damage.<\/li>\n<li><span class=\"xn-location\">Canada<\/span> remains an attractive market for <span class=\"xn-location\">London<\/span> insurers, who are keen to grow their portfolios and offer competitive capacity.<\/li>\n<li>The commercial property market continues to moderate moving into 2025. The availability of capacity and profitability is driving competition, creating opportunities for improved coverage and pricing.<\/li>\n<li>While the primary casualty market is favourable for clients, the excess casualty market is seeing more aggressive competition.<\/li>\n<\/ul>\n<h4 class=\"smallhead\"><b>About Aon<\/b><\/h4>\n<p>Aon plc <em>(NYSE: AON)<\/em> exists to shape decisions for the better \u2014 to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses. For more information, visit <a href=\"https:\/\/www.aon.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.aon.com<\/a>.<\/p>\n<p class=\"referencetext\"><i>SOURCE: Aon plc<\/i><\/p>\n<p> Tags: <a href=\"https:\/\/www.insurance-canada.ca\/tag\/aon\/\" rel=\"tag\">Aon<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/market-dynamics\/\" rel=\"tag\">market dynamics<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/trends\/\" rel=\"tag\">trends<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toronto, ON (Apr. 14, 2025) \u2013 Aon plc, a leading global professional services firm, has released its Spring 2025 Canadian Insurance Market Update. Published in support of Aon\u2019s ongoing commitment to help Canadian clients&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/23380"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=23380"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/23380\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=23380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=23380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=23380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}