About MSA Research

Market-Security Analysis & Research Inc. is a Canadian-owned, independent and impartial analytical research firm that is focused on the Canadian insurance industry.

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 90% of Canadian 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 organization behind Canada’s most prominent annual property & casualty insurance conference: The National Insurance Conference of Canada (NICC).

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

Biography of Joel Baker, President and CEO of MSA Research

Joel Baker has devoted his career to the insurance industry, gaining expertise as one of Canada’s leading authorities on insurance industry analytics. In 2004, he founded MSA Research, the renowned analytical research and financial publishing firm entrusted to provide independent, accurate research and analysis to all those who have a stake in the Canadian insurance industry. MSA Research’s clients include the overwhelming majority of Canada’s insurers, reinsurers, brokers, reinsurance brokerages, risk managers, industry associations, regulators, investment bankers and equity analysts.

Joel began his career in the insurance industry with the Sun Alliance Insurance Company of Canada, now part of RSA Canada. In 1994, recognition of his analytical capabilities resulted in him being offered the position of General Manager with the Canadian rating agency, TRAC Insurance Services Ltd., which he led until 1999. When the company was acquired by A.M. Best, he led A.M. Best Canada for four more years, during which time he was heavily involved in the rating process of property and casualty insurers, as well as life insurance companies.

Joel’s depth of understanding of the Canadian insurance industry makes him frequently called upon to comment on industry results. He is often quoted on his unique perspective of the industry. It was Joel’s commitment to the industry that prompted him to create a forum in which all of Canada’s insurance leaders could unite to share ideas, insights and initiatives that would strengthen the country’s property and casualty insurance industry. In 2007, he launched the National Insurance Conference of Canada (NICC), which quickly became the Canadian P&C industry’s preeminent leadership forum. The highly anticipated 14th NICC will be held at The Westin in Ottawa from September 30 – October 2, 2020.

New in 2018, MSA launched InsurTech North. This new forum is designed specifically for digital leaders, entrepreneurs and venture capitalists in the P&C and Life/Health insurance space. The 3rd annual InsurTech North will run April 6-7, 2020 at the Beanfield Centre in Toronto.

Now in its sixth year in Canada and into its second year in Bermuda, the International Cyber Risk Management Conference (ICRMC) addresses the most salient and timely issues that will help organizations manage cyber risk internally and effectively transfer it. The ICRMC brings together the most comprehensive spectrum of issues and experts in one place. The Bermudian edition of the ICRMC ran Dec 4-6, 2019 at the Hamilton Princess and Beach Club.

In 2014, Joel also founded Catastrophe Indices and Quantification Inc. (CatIQ), delivering detailed analytical and meteorological information on Canadian natural and man-made catastrophes. Through its online subscription-based application, CatIQ combines comprehensive insured loss indices and other related information to better serve the risk management needs of the insurance and reinsurance industries. CatIQ’s fifth annual CatIQ Connect Conference, will take place at the Metro Toronto Convention Centre, February 3-5, 2020.


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