Quebec City area P&C insurers among the “most dynamic” in the region

Eleven insurance companies in the Quebec City and Lévis region are continuing to grow, create new jobs and gain market share, according to the Insurance and Financial Services Development Centre.
The 11 insurance companies from the Québec Chaudière-Appalaches region represent both the life and property and casualty sectors.
“Together, the companies make up one of the most dynamic industries in the Quebec City Chaudière-Appalaches region,” says Yvon Charest, president of the Centre.
He was commenting on updated economic indicators for the region’s insurance companies, comparing data from the end of 2008 to that of the end of 2005.
The property and casualty insurers in the group include Desjardins General Insurance Group (Lévis), Groupe Promutuel (Québec), Industrial Alliance Auto and Home Insurance (Québec), La Capitale Financial Group, Damage Insurance Sector (Québec), L’Union Canadienne, Compagnie d’Assurances (Québec) and SSQ, General Insurance Company Inc. (Québec).
In 2008, the region’s 11 companies (including life insurers) collected Cdn$14.7 billion in premiums and contributions, a 36% increase in three years, the Centre notes.
“As a result of the growth outside of Quebec, 36% of their business came from the rest of Canada, compared to 30% in 2005,” the centre says. “The region’s life and health insurance companies account for 44.5% of the market in Quebec, and general insurance companies account for 29.9%.”
All told, the companies had approximately 9,100 employees working in their head offices as of December 2008.
Having increased their workforces by 9.5% between 2006 and 2008, the companies plan to inform the population in general and young people in particular about the large number of careers possible in the industry, and to make these careers known.
Under the “Power of Eleven” theme, they’re currently conducting an information campaign that primarily targets students.