RBC Financial Performance Update
Insurance
Strategic Priorities
■Grow the Canadian insurance business: By focusing on the
mass underserved, providing innovative and competitive products,
and leveraging partnerships to expand value added client services
such as virtual health and wellness
■ Maintain our leadership position in the creditor business: By
investing in new digital tools, delivering new pricing and product
benefits, and developing new marketing programs to improve
acquisition and retention through tighter integration with bank
partners
■ Grow the longevity business in Canada and the UK: By
enabling client base growth, long term investment returns, and risk
diversification strategies
Deepen client relationships across RBCI and RBC: By focusing
on new client acquisition utilizing RBCI's growing channels at
lower acquisition cost
Net Income ($ millions)
Highlights
Among the largest Canadian bank-owned insurance organizations,
serving more than five million clients globally
#1 in individual disability (inforce business) with 38% (1) market share
#1 in individual disability net new sales with 43% (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 YoY
growth of 40.2% (2)
775
806
831
III ..
2018
2019
2020
Q2/20
Q2/21
Premiums and Deposits ($ millions)
4,647 4,604
4,950
2,063
2,457
2,189
2,584
2,415
2,493
1,148
1,161
627
602
521
559
2018
2019
2020
Q2/20
Q2/21
■ Canadian
■ International
(1) LIMRA Canadian Insurance Survey, 1st Quarter, 2021. (2) Strategic Insights, Insurance Advisory Service Report, April 2021.
15 BUSINESS SEGMENTS
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