2020 Economic Outlook
Insurance
Strategic Priorities
☐
Improve Distribution Effectiveness and Efficiency: By
enhancing our proprietary distribution channels, and focusing on
the delivery of technology and operational solutions
Deepen Client Relationships: By continuing to be an innovative,
client-focused provider of a full suite of insurance solutions for
mass underserved, mass affluent and high net worth clients
Simplify. Agile. Innovate. By accelerating our digital initiatives'
time-to-market, improving quality and cost effectiveness
■ Pursue Select International Opportunities: By continuing to
grow our core reinsurance business within our risk tolerance
Highlights
Among the largest Canadian bank-owned insurance organizations, serving
more than five million clients globally
#1 in individual disability sales with 39% (1) market share
#2 in Segregated fund net sales (2)
RBC Guaranteed Investment Funds continue to be one of the fastest growing
segregated fund providers in Canada with a YoY growth of 27.0% (2)
#5 in sales in the Canadian group annuity market in Jul-Sep 2019(3)
Net Income ($ millions)
Premiums and Deposits
726
775
806
III
4,546
4,647
4,604
2,050
2,063
2,189
1,542
1,314
2,496
2,584
2,415
625
563
166
181
751
917
2017
2018
2019
Q1/19
Q1/20
2017
2018
2019
Q1/19
Q1/20
■ Canadian
■ International
(1) LIMRA Canadian Insurance Survey, 3rd Quarter, 2019. (2) Strategic Insights, Insurance Advisory Service Report, January 2020. (3) LIMRA Canadian Pension Market Survey, Q3 2019.
18 BUSINESS SEGMENTS
RBCView entire presentation