The insurance industry

Economic data

Are you curious and wish to obtain more information on the field of insurance in Québec City and in Canada ? Here is a bit of economic data that will help you accurately portray the industry and will show you why Puissance Onze is a leader across Canada.

An appealing economic hub

Why do we nickname Québec City “the capital of insurance” ? Because with its neighbor across the river, Lévis, it constitutes a major hub for the insurance industry thanks to the companies that established their headquarters there.

And the nickname “Hartford of the north” ? In the United States, this city of Connecticut is considered to be the world capital of insurance companies. Québec City is about to imitate it with great success !

Revealing numbers:

  • 10 767: number of employees in the headquarters of Puissance Onze’s insurance companies1
  • $928,1 M: global remuneration (salaries, bonuses and social advantages) in the region1
  • $57 700: average salary offered in the headquarters of insurers, salary at the third highest rank of offered salaries in the industries’ average2
  • $51 M: amount of taxes paid to the municipal governments by the companies
  • $1,065 B: value of the subsidiary companies’ property portfolio in the region of Québec-Chaudière-Appalaches1
  • + 2 000: number of employees to provide in the sector of insurance before 2020, permanent jobs that distinguish themselves by their quality, their highly competitive remuneration and their variety (top technology, actuarial services, computer sciences, investments, finance, accounting, etc.)

Significant presence in Québec City

  • 36,1 %: Québec market share occupied by damage insurers.3
  • 47,8 %: Québec market share held by personal insurers.3
  • $19,9 M: amount collected
  • $520 M: taxes paid to municipal and provincial levels.1

Puissance Onze, an important actor on the Canadian scene

  • $95 B: amount of held assets in 2014 by Puissance Onze companies, which is three times more than in 2005.1
  • $34,2 B: amount for bonuses and contributions collected across Canada in 2014, a growth of 133% since 2008.1
  • Four of the personal insurance companies of the region are ranked among the ten most prominent ones in Canada.

1 Raymond Chabot Grant Thornton, Rapport – Mise à jour des principaux indicateurs de l’impact économique des sociétés d’assurance ayant leur siège social à Québec et en Chaudière-Appalaches, august 2015
2 Statistique Canada (EERH) and analyse KPMG 2015

3 MSA Research ( Compilation : Le Journal de l’assurance