In-Force Gross Written Premium (GWP)
North America (USD in millions)
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U.S. (USD in millions)
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The total premium volume in the U.S. reached $4.7 billion at YE 2024.
The U.S. market continues to experience double-digit increases; however, growth has slowed the past 2 years and remained steady in 2024 with a YoY variance of 21.4%.
- 21.4% increase from 2023 to 2024
- 21.4% increase from 2022 to 2023
- 24.2% increase from 2021 to 2022
- 30.4% increase from 2020 to 2021
- 27.5% increase from 2019 to 2020
Canada (CAD in millions)
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The total premium volume in Canada amounted to $583.9 million at YE 2024 (Canadian currency), an increase of 20.7% reaching near the lowest growth rate since the start of the pandemic.
The Canadian 5-year average annual growth rate is 24.4%.
- 20.7% increase from 2023 to 2024
- 29.3% increase from 2022 to 2023
- 19.3% increase from 2021 to 2022
- 28.1% increase from 2020 to 2021
- 17.3% increase from 2019 to 2020
In-Force GWP, Per Product (2024)
U.S. (in USD)
Canada (in CDN)
- Accident Only: Foreign body ingestion, lacerations, motor vehicle accident, ligament tears, poisoning, etc.
- Accident & Illness: Accident benefits plus illnesses such as cancer, infections, digestive problems, etc.
- Insurance with Embedded Wellness: Comprehensive plans that may include vaccinations, early screening diagnostics, consultations for proper nutrition, dental care, etc.
- Endorsements: Riders such as wellness or cancer endorsements.
*Combined insurance includes Accident & Illness & Insurance with Embedded Wellness
Pets and GWP Distribution (2024)
| U.S. – Top 10 | PETS | GWP |
|---|---|---|
| California | 18.3% | 20.2% |
| New York | 7.2% | 7.8% |
| Florida | 6.3% | 6.4% |
| Texas | 5.5% | 5.1% |
| Pennsylvania | 4.6% | 4.6% |
| New Jersey | 4.6% | 4.9% |
| Washington | 3.6% | 3.6% |
| Massachusetts | 3.4% | 3.8% |
| Colorado | 3.0% | 3.1% |
| Illinois | 2.9% | 3.2% |
| Canada – Top 10 | PETS | GWP |
|---|---|---|
| Ontario | 36.9% | 38.1% |
| British Columbia | 23.0% | 25.3% |
| Alberta | 18.2% | 17.7% |
| Quebec | 12.9% | 11.3% |
| Manitoba | 2.4% | 1.9% |
| Nova Scotia | 1.4% | 1.1% |
| Saskatchewan | 1.1% | 0.9% |
| Nunavut | 0.9% | 0.8% |
| New Brunswick | 0.9% | 0.8% |
| Newfoundland & Labrador | 0.9% | 0.8% |
| Northwest Territories | 0.9% | 0.9% |
| Prince Edward Island | 0.4% | 0.3% |
| Yukon | 0.1% | 0.1% |