About MSA Research Inc.

Market-Security Analysis &  Research Inc.  is a Canadian-owned, independent and impartial analytical research firm that is focused on the Canadian insurance industry. MSA’s mission is to provide Canada’s insurance professionals with comprehensive financial information, unparalleled analytical tools and rigorous research on a consistent basis.

MSA is the dominant provider of financial information relating to Canadian insurers. Its reports and software are used by over 85% of Canadian P&C insurers, reinsurers, reinsurance brokers, commercial brokers, all broker associations, all major audit/actuarial firms, equity research and investment banking shops, regulators, governments, TPA's, academics and many others.

MSA is also the sponsor of Canada's most prominent annual property & casualty insurance conference. The National Insurance Conference of Canada (NICC). Please click here for more on the NICC.  

MSA was founded by Joel Baker in 2003 and commenced operations in March 2004.

Joel has extensive experience and knowledge in the analysis of insurers having followed the Canadian property/casualty and life/health industries in a professional capacity for over ten years. He also maintains a keen understanding of U.S. and global insurance and reinsurance dynamics. Most recently, Joel served as General Manager of A.M. Best's Canadian office, and before that, as General Manager of the quantitative Canadian rating agency, TRAC Insurance Services Ltd.

Through its reports and CD-ROMs, TRAC provided solvency ratings and financial information on Canada's insurers. A.M. Best acquired TRAC in June of 1999 and renamed it A.M. Best Canada Ltd. After the acquisition, the office continued to produce a similar line of products, and Joel designed and maintained the models used by Best in assigning Canadian 'public-data' ratings. In addition, Joel played a key role in servicing Best's interactive ratings in Canada, authoring analytical reports, articles & studies. Joel maintains excellent relationships with many insurance industry leaders including CFO's and CEO's of most Canadian insurers, senior federal and provincial regulators, executives at industry trade associations and brokerage firms.

Joel is a Chartered Insurance Professional (CIP), holds an M.Sc. in statistics and stochastic processes (1991) and a B.Sc. in mathematics (1989). Joel is a member of CFA Institute, The Toronto CFA Society, The Insurance Institute of Canada and The Canadian Insurance Accountants Association.