The Canadian P&C insurance market faced with several challenges

A report published by broker Aon revealed that the Canadian property-casualty insurance market is confronted with a number of worrying challenges.

Inflation uncertainties, geopolitical tensions, high number of extreme weather claims, supply chain disruptions and rising reinsurance rates are some of the local insurers' main concerns.

At the end of the second quarter of 2023, insured losses resulting from natural catastrophes in Canada amounted to 760 million CAD (562.9 million USD).