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RBC Insurance, through its operating entities, provides a wide range of creditor, life, health, travel, home, auto and reinsurance products to more than five million North American customers. We are the largest Canadian bank-owned insurance organization and one of the fastest growing insurance companies in the country.
RBC Insurance leads in the Canadian creditor, individual living benefits and travel insurance markets and ranks sixth in new individual life insurance premiums in Canada. We are also ranked 35th in Standard & Poor's 2003 global top 40 reinsurance groups listing.
Life
Our life business provides a wide range of individual and group life and health insurance solutions, as well as life retrocession to individual and business clients in Canada, the U.S. and select international markets.
In Canada, life and health insurance products are distributed through more than 17,000 independent advisors affiliated with producer groups, financial planning firms and stock brokerage firms, as well as through direct sales and our network of career sales representatives. In the U.S., we provide life and health insurance products through independent broker dealers and our proprietary sales force. We also offer select products through direct channels. Through our life retrocession business, we participate in quota share reinsurance deals and excess reinsurance pools of most major North American and European reinsurers accepting a portion of reinsurance risk on life insurance policies.
Non-Life
Our non-life business includes home, auto and travel insurance and property reinsurance for individual and business clients in Canada, the U.S. and select international markets.
RBC Insurance offers a wide range of auto and home insurance products to individual Canadian clients and employee and affinity groups through direct sales. Our travel insurance business provides a wide range of products and services, including trip cancellation, interruption and emergency assistance services to clients in Canada and the United States. These products are distributed through a network of travel agencies, as well as over the Internet. In Canada, certain authorized products are also offered through bank channels and advisors. We also participate in the international property reinsurance business by providing reinsurance and retrocession coverage for property insurance policies issued by insurers around the world.
Fee and Related Activities
RBC Insurance is involved in a number of key insurance and related activities that generate fee income for the organization, including creditor insurance, travel assistance services, structured reinsurance and administration and software solutions.
RBC Insurance administers the creditor insurance products and services for individual and business clients of RBC. This includes life and disability insurance for mortgages, loans and Visa cards. Our travel and emergency assistance services include co-ordinating the delivery of emergency health, evacuation and transportation services when clients have a travel emergency, while our structured reinsurance business provides solutions to help corporations better manage financial risk. In the U.S., our fee businesses include outsourcing services and administration and software systems.
