A stabilizing Canadian PRT market in 2023
Eckler Ltd. / Eckler ltée
Canada’s largest independent actuarial consulting firm. / La plus importante firme actuarielle indépendante au Canada
The Canadian pension risk transfer (PRT) market had another busy year, with over 190 transactions totalling $7.8B for the third year in a row. Competitive bidding dominated the market in the first half of the year with the market becoming more selective in the third and fourth quarters. Eckler’s PRT team placed over $680M in business, growing our Canadian PRT market share to 8% (up 100% from 2022).
We expect the market to maintain its stability into 2024, with a continued ability to sustain and adapt to larger deals and unique demands from plan sponsors which has resulted in international attention and thoughtful, selective insurer participation.
Our seventh annual PRT report provides market summaries and comparable data from active Canadian insurance companies to keep market participants informed as the market continues to grow and evolve.?You can view the full report on our website.
If you would like to know more, we invite you to contact one of our PRT experts at the links below or contact us at?https://www.eckler.ca/
Kudos to the Eckler PRT team! The annual Eckler PRT report continues be an excellent resource for anyone looking for insights into the intricacies of the Canadian PRT market.