The ‘greying’ of ICBC’s policyholders

August 26, 2016

by Richard C. McCandless,

In 2014, ICBC sold approximately 2.8 million Basic insurance policies (net premiums written) for personal use. This was an increase of 160,000, or 6.1%, over the sales for 2010. This paper reviews the policies sold by four age groupings to identify trends and potential issues that may affect the future price of Basic insurance policies.

During the four years under review there has been a marked increase in the number of policies sold to those aged 65 and over, however the age segmented growth pattern generally reflects the growth in the total population.

Occasional Paper No 4 22 August 2016