The Canadian Life and Health Insurance Association (CLHIA) is encouraged by a successful conclusion to the Trans-Pacific Partnership (TPP) negotiations.
“As major exporters of life and health insurance products and expertise, retirement saving and wealth management, we have long been a strong proponent of free and transparent trade,” says CLHIA president and CEO Frank Swedlove. “Canadians have a lot to gain from a TPP that encourages increased investment and strengthens Canada’s global competitiveness.”
Canadian life and health insurers hold more than $728 billion in assets for their international operations in more than 20 countries.
With a combined GDP of about $28.5 trillion and nearly 800 million consumers, the TPP market offers great opportunities for growth, the CLHIA says.
Canada’s life and health insurance industry is experiencing significant and growing overseas businesses and has a particular interest in the Asia-Pacific region.