| MSA Benchmark Report - Composites |
| Composite Name | Description |
| Industry-Wide Benchmarks |
| Total Canadian P&C Industry | Includes all companies for which MSA Research Inc. currently has data including Lloyd's. |
| Total Canadian P&C Industry (Inc. Lloyd's Ex ICBC) | Includes all companies for which MSA Research Inc. currently has data including Lloyd's but excluding ICBC. |
| Total Canadian P&C Industry (Ex Lloyd's) | Includes all companies for which MSA Research Inc. currently has data except for Lloyd's |
| Total Canadian P&C Industry (Ex ICBC, Ex Lloyd's) | Includes all companies for which MSA Research Inc. currently has data, except for ICBC and Lloyd's. |
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| License Type Benchmarks |
| Total Federal Companies (Ex Lloyd's) | Includes all federally regulated property and casualty companies excluding Lloyd's. |
| Total Provincially Licensed (Ex ICBC) | Includes provincially licensed companies for which MSA Research Inc. currently has data except for ICBC. |
| Canadian Domiciled Insurers | Includes all Canadian domiciled companies either federally or provincially licensed (P&C-1). |
| Canadian Domiciled Insurers (Ex ICBC) | Includes all Canadian domiciled companies either federally or provincially licensed (P&C-1) but it excludes ICBC. |
| Foreign Branches (Ex Lloyd's) | Includes only P&C-2 branches of foreign companies except for the Lloyd's |
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| Incorporation Categories |
| Mutual Companies | Includes mutual insurers. Insurers are classified as a 'mutual' if they or their ultimate parent is a mutual. This composite also includes reciprocal insurance organizations. |
| Stock Companies | Includes stock companies but excludes stock subsidiaries of mutual companies. |
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| Distribution Categories |
| Broker Writers (Ex Lloyd's) | Includes insurers whose predominant distribution mechanism is the broker channel. Excludes Lloyd's and reinsurers. |
| Broker Writers (Ex ICBC and Lloyd's) | Includes primary insurers whose predominant distribution mechanism is the broker channel except for the Insurance Corp. of British Columbia and Lloyd's. |
| Agency and Direct Writers | Includes insurers whose predominant distribution is either direct or through agents. This composite excludes reinsurers |
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| Primary/Reins. Splits |
| Primary Companies | Includes primary writers (non reinsurers). It excludes Lloyd's. |
| Primary Companies (Ex ICBC) | Includes primary writers (non reinsurers) except for ICBC and Lloyd's. |
| Reinsurers | Includes only reinsurers (excluding FMRP and Promutuel Re). |
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| Ownership Categories |
| Canadian Owned Companies | Includes Canadian owned companies as well as branches of foreign insurers that are ultimately Canadian owned. |
| Canadian Owned Companies (Ex ICBC) | Includes Canadian owned companies as well as branches of foreign insurers that are ultimately Canadian owned but it excludes ICBC. |
| US Owned Companies | Includes US owned companies. |
| European Owned Companies | Includes European owned companies (excluding Lloyd's) |
| Other Foreign Owned Companies | Includes insurers that are not owned by either Canadian, US or European parents. |
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| Group Size Categories |
| Top Ten Groups DPW Basis (Ex ICBC) | Includes Canada's ten largest insurance groups based on direct premium writings in 2005. The composite excludes ICBC. |
| Top Five Groups | Includes members of the top-five groups in Canada (excluding ICBC and Lloyd's) based on net premiums written. The groups included in this composite are: ING Canada, Aviva Canada (including Pilot for back-years), Co-operators Group; Economicial Insurance Group and the TD Meloche-Monnex companies. |
| Large Insurers or Groups (Ex Top Five) | Includes insurers or groups with net writings in excess of $500 million, excluding the top-five groups, reinsurers, ICBC and Lloyd's Underwriters. The same population of companies (or groups) is cast back to 1999. |
| Mid Sized Insurers or Groups | Includes insurers or groups with net writings of between $200-$500 million (excluding reinsurers). The same population of companies (or groups) is cast back to 1999. |
| Small Insurers or Groups | Includes Insurers or groups with net writings of under $200 million (excluding reinsurers). The same population of companies (or groups) is cast back to 1999 |
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| Legal Entity Size |
Large Writers Ex Lloyd's and ICBC
(as was, legal entity basis) | Includes INDIVIDUAL insurers with net writings of over $750 million in EACH given year (excludes ICBC, Lloyd's and reinsurers). |
Medium Sized Writers
(as was, legal entity basis) | Includes INDIVIDUAL insurers with net writings of between $200-$750 million in EACH given year. This composite excludes reinsurers. |
Small Writers
(as was, legal entity basis) | Includes INDIVIDUAL insurers with net writings between of less than $200 million in EACH given year. This composite excludes reinsurers. |
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| Line of Business Specializations |
| Personal and Multi-Line Writers | Includes personal-line and multi-line companies (excluding reinsurers). |
| Personal and Multi-Line Writers (Ex ICBC) | Includes personal-line and multi-line companies (excluding reinsurers and ICBC). |
| Commercial Lines Predominating plus Lloyd's | Includes companies who write predominantly commercial lines business (excludes reinsurers but includes Lloyd's). |
| Commercial Lines Predominating | Includes companies who write predominantly commercial lines business (excludes reinsurers & Lloyd's). |
| Auto Writers | Includes companies whose auto writings comprised more than 50% of their net premiums written (excluding reinsurers). |
| Auto Writers (Ex ICBC) | Includes companies whose auto writings comprised more than 50% of their net premiums written (excluding reinsurers and ICBC). |
| Non-Standard Auto and Trucking Writers | Includes companies noted for specializing in non-standard auto and/or trucking business. |
| Group or Affinity Writers | Includes companies that focus on employee or affinity group business. |
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| Regional Composites |
| Ontario Predominating | Includes companies whose net writings in Ontario comprised more than 70% of their overall volume. (Excludes reinsurers). |
| Quebec Predominating | Includes companies whose net writings in Quebec comprised more than 70% of their overall volume. (Excludes reinsurers) |
| Atlantic Predominating | Includes companies whose net writings in the Atlantic provinces (NFLD, PEI, NS & NB) comprised more than 70% of their overall volume. |
| Western Predominating | Includes companies whose net writings in the western provinces & territories (MB, SK, AB, BC, YT, NT, NU) comprised more than 70% of their overall volume. |
| Western Predominating (Ex ICBC) | Includes companies whose net writings in the western provinces & territories (MB, SK, AB, BC, YT, NT, NU) comprised more than 70% of their overall volume (excluding ICBC) |
The MSA Benchmark Report is a unique and powerful benchmarking tool, providing extensive comparative statistical information and analysis on forty-three industry composites. Composite data is presented in the same format as the individual company exhibits contained in the