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Auto Insurance in Ontario, Alberta, Nova Scotia, and Newfoundland & Labrador

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Auto Insurance in Ontario,

Alberta, N ova Scotia, and

N ew foundland & Labrador

A Market and Regulatory Update

September 17, 2015

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Ontario (1/13)

Ontario Auto 24% Remainder of Canada's P&C Insurance Industry 76% Canada Personal Property 17% Commercial 9% Auto 54% Liability 11% Other 9% Ontario

Top 10 Auto Insurance Companies

Company/Group Name Market Share

Intact Group 16.75% Desjardins Group 16.50% TD Insurance Group 12.80% Aviva Group 9.22% Allstate Group 7.07% RSA Group 5.84% Cooperators Group 5.81% Economical Group 5.08% RBC Group 4.46%

There are 89 companies selling auto insurance in Ontario. The auto insurance market in Ontario is the

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Private Passenger Vehicle Loss Ratio 30% 50% 70% 90% 110% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Ontario (2/13)

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Total Claims Costs by Coverage as a Percentage of Total Costs BI 27% AB 36% PD 15% COLL 11% COMP 5% Other 6% 2006 BI 25% AB 47% PD 12% COLL 8% COMP 3% Other 3% 2010 BI 28% AB 34% PD 16% COLL 11% COMP 4% Other 7% 2014 $5.75 billion $7.34 billion

Ontario (3/13)

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Med/Rehab Claims Cost per Vehicle $222 $140 $135 $148 $149 $0 $75 $150 $225 $300 2010 2011 2012 2013 2014

Ontario (4/13)

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Ontario (5/13)

Claimant Examination Cost per Vehicle $128 $49 $43 $48 $46 $50 $100 $150

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Attendant Care Claims Cost per Vehicle $73 $59 $61 $63 $65 $0 $50 $100 $150 2010 2011 2012 2013 2014

Ontario (6/13)

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Ontario (7/13)

Income Replacement Claims Cost per Vehicle

$75

$64 $64 $68 $65

$50 $100 $150

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Ontario (8/13)

Non-Earner Claims Cost per Vehicle

$14 $15 $16 $21 $22 $0 $20 $40 $60 2010 2011 2012 2013 2014

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Ontario (9/13)

Housekeeping Claims Cost per Vehicle

$43 $8 $5 $5 $4 $20 $40 $60

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Ontario (10/13)

Caregiver Claims Cost per Vehicle

$23 $1 $0 $0 $1 $0 $20 $40 $60 2010 2011 2012 2013 2014

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Ontario (11/13)

$312 $280 $280 $296 $297 $200 $250 $300 $350

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Ontario (12/13)

Claims Cost per Vehicle by Coverage for 2014

$356 $41 $53 $297 $333 $220 $0 $150 $300 $450 $600

Ontario Alberta Atlantic Canada

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Overview

The cost of claims in Ontario has continued to be the highest in Canada

The government has introduced additional reforms to control costs

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Alberta (1/6)

Direct Written Premium (DWP)

Company/Group Name Market Share

Intact Group 20.20%

TD Insurance Group 16.50%

Wawanesa Mutual Insurance Company 14.49%

Cooperators Group 7.75%

Alberta Motor Association 7.23%

Desjardins Group 6.92% Aviva Group 6.59% RSA Group 6.14% Economical Group 2.76% Allstate Group 2.61% Total 91.19%

There are 70 companies selling auto insurance in Alberta. The auto insurance market in Alberta makes up 45% of the $8.7 billion P&C insurance market in the province and 8% of the $49.5 billion total market

Personal Property 18% Commercial 17% Auto 45% Liability 10% Other 10% Alberta Alberta Auto 8% Remainder of Canada's P&C Insurance Industry 92% Canada

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Alberta (2/6)

Private Passenger Vehicle Loss Ratio

50% 70% 90% 110%

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BI PD AB COLL COMP 2010 $237 $145 $39 $210 $197 2011 $252 $153 $39 $227 $110 2012 $285 $155 $42 $228 $175 2013 $291 $164 $40 $247 $167 2014 $307 $164 $41 $253 $183 Annual Change 6.7% 3.1% 1.3% 4.8% (1.8%)

Alberta (3/6)

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0.60 0.60 0.58 0.57 0.58 0.45 0.50 0.55 0.60 0.65

Alberta (4/6)

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Average Cost of a Bodily Injury Claim $39,540 $42,431 $48,745 $50,649 $53,660 $0 $20,000 $40,000 $60,000 2010 2011 2012 2013 2014

Alberta (5/6)

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Overview

The cost of bodily injury claims has been rising

Without action to fix the Minor Injury Regulation, the cost of injury claims will continue to rise

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Nova Scotia (1/7)

Direct Written Premium (DWP)

Company/Group Name Market Share

Intact Group 17.73%

TD Insurance Group 12.13%

Aviva Group 11.63%

RSA Group 11.40%

Wawanesa Mutual Insurance Company 9.65%

Allstate Group 5.40% Cooperators Group 5.19% Portage la Prairie 5.01% Economical Group 4.94% Travelers Group 4.91% Total 87.98%

There are 62 companies selling auto insurance in Nova Scotia. The auto insurance market in Nova Scotia makes up nearly half of the $1.1 billion P&C insurance market in the province and 17% of the $3.0

Personal Property 24% Commercial 13% Auto 46% Liability 8% Other 9% Nova Scotia NS Auto 17% Remainder of Atlantic Canada's P&C Insurance Industry 83% Atlantic Canada

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Nova Scotia (2/7)

Private Passenger Vehicle Loss Ratio

50% 70% 90% 110%

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Nova Scotia (3/7)

Bodily Injury Claims Cost per Vehicle

$137 $140 $173 $173 $174 $158 $0 $60 $120 $180 $240 2009 2010 2011 2012 2013 2014

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Nova Scotia (4/7)

Average Cost of a Bodily Injury Claim

$32,300 $32,675 $40,962 $41,471 $42,005 $43,207 $20,000 $40,000 $60,000

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Nova Scotia (5/7)

Bodily Injury Claim Frequency per 100 Vehicles (Indexed 2005=100)

40 60 80 100 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 NS NB

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Nova Scotia (6/7)

Accident Benefits Claims Cost Per Vehicle

$32 $43 $47 $54 $53 $48 $20 $40 $60

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Overview

The reforms were expected to increase the cost of bodily injury and accident benefits claims

Whether costs will continue to rise or settle at these higher levels is unknown

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Newfoundland and Labrador (1/7)

Direct Written Premium (DWP)

Company/Group Name Market Share

Intact Group 27.60% RSA Group 26.63% Aviva Group 21.66% Cooperators Group 9.14% TD Insurance Group 5.86% Travelers Group 2.68% RBC Group 2.26% Desjardins Group 1.87% Economical Group 1.85%

There are 50 companies selling auto insurance in Newfoundland and Labrador. The auto insurance

Personal Property 19% Commercial 13% Auto 51% Liability 7% Other 10%

Newfoundland and Labrador

NL Auto 13% Remainder of Atlantic Canada's P&C Insurance Industry 87% Atlantic Canada

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Newfoundland and Labrador (2/7)

Private Passenger Vehicle Loss Ratio

30% 50% 70% 90% 110% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

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Newfoundland and Labrador (3/7)

Total Claims Cost per Vehicle by Province

$615 $739 $604 $635 $472 $419 $819 $560 $533 $250 $500 $750 $1,000 2002 2008 2014

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Newfoundland and Labrador (4/7)

Claims Cost per Vehicle for Traffic Collision-Related Coverage 2014

$398 $168 $180 $109 $107 $109 $211 $160 $152 $51 $66 $48 $0 $100 $200 $300 $400 $500 NL NB NS BI PD COLL AB

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Newfoundland and Labrador (5/7)

Claim Frequency per 100 Vehicles by Coverage 2014

0.61 0.33 0.37 2.51 2.44 2.50 4.62 2.84 2.75 0.81 0.51 0.66 1 2 3 4 5 BI PD COLL AB

(33)

Newfoundland and Labrador (6/7)

Average Claim Cost by Coverage 2014 $65,637 $50,822 $49,349 $4,357 $4,404 $4,363 $4,570 $6,238 $5,641 $5,531 $13,044 $7,256 $0 $15,000 $30,000 $45,000 $60,000 $75,000 NL NB NS BI PD COLL AB

(34)

Overview

The underwriting results have been the worst in Atlantic Canada

The cost of bodily injury claims has been disproportionately high

References

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