InsurEconomy 2024: Alberta

Alberta is an economic powerhouse province in Canada. While sectors like energy and agriculture are certainly main drivers of the economy, what’s sometimes forgotten or overlooked, is the critical role of the property and casualty (P&C) insurance industry.

The P&C insurance industry does more than merely provide risk management products and services – it safeguards supply chains, get businesses back on their feet quickly and efficiently, provides peace of mind to millions of Albertans by protecting their most-valuable assets, plays a vital role in driving economic growth and offers overall financial stability to the province.

Here are just a few numbers at a glance that help quantify the industry’s critical impact on Alberta’s economy:

• The P&C insurance industry strengthens Alberta’s economy by contributing $2 billion to the province’s nominal GDP.
• The P&C insurance industry creates jobs in Alberta and directly employs over 17,000 residents.

To learn more, read the newest Alberta InsurEconomy report.