In-Force Gross Written Premium (GWP)
North America (in USD)
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U.S. (in USD)
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The total premium volume in the U.S. reached $3.9 billion at YE 2023.
The U.S. market continues to experience double-digit increases; however, growth slowed slightly over 2023 with a YoY variance of 21.6%.
- 21.6% 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
- 24.3% increase from 2018 to 2019
Canada (in CAD)
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The total premium volume in Canada amounted to $485.5 million at year-end 2023 (Canadian currency), an increase of 29.8% from the previous year.
The Canadian 5-year average annual growth rate is 23.6%.
- 29.8% 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
- 16.4% increase from 2018 to 2019
In-Force GWP, Per Product (2023)
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 (2023)
| U.S. – Top 10 | PETS | GWP |
|---|---|---|
| California | 18.3% | 20.1% |
| New York | 7.5% | 8.7% |
| Florida | 6.2% | 6.6% |
| Texas | 5.7% | 5.1% |
| New Jersey | 4.9% | 5.3% |
| Pennsylvania | 4.5% | 4.3% |
| Massachusetts | 4.3% | 4.9% |
| Washington | 3.9% | 4.1% |
| Colorado | 3.2% | 3.3% |
| Illinois | 3.0% | 3.1% |
| Canada Top 10 | PETS | GWP |
|---|---|---|
| Ontario | 37.9% | 37.2% |
| British Columbia | 18.7% | 22.1% |
| Alberta | 16.4% | 19.6% |
| Quebec | 9.7% | 8.1% |
| Nova Scotia | 4.9% | 3.4% |
| Newfoundland & Labrador | 4.7% | 4.4% |
| New Brunswick | 2.8% | 1.8% |
| Manitoba | 1.9% | 1.3% |
| Saskatchewan | 1.6% | 1.1% |
| Prince Edward Island | 0.7% | 0.5% |