Finance and Insurance

OVERVIEW

This sector comprises establishments primarily engaged in: financial transactions (that is, transactions involving the creation, liquidation, or change in ownership of financial assets) or in facilitating financial transactions.

Included are: establishments that are primarily engaged in financial intermediation. They raise funds by taking deposits and/or issuing securities, and, in the process, incur liabilities, which they use to acquire financial assets by making loans and/or purchasing securities. Putting themselves at risk, they channel funds from lenders to borrowers and transform or repackage the funds with respect to maturity, scale and risk.

Establishments that are primarily engaged in the pooling of risk by underwriting annuities and insurance. They collect fees (insurance premiums or annuity considerations), build up reserves, invest those reserves and make contractual payments. Fees are based on the expected incidence of the insured risk and the expected return on investment.

Establishments that are primarily engaged in providing specialized services that facilitate or support financial intermediation, insurance and employee benefit programs.

In addition, establishments charged with monetary control – the monetary authorities – are included in this sector.

The information on the number, size and location of establishments can be used to assess the existing level of competition within the industry in your province/territory.
The table below shows the breakdown between employer and non-employer or indeterminate establishments for each province and territory as well as at the national level. For this industry, 5 of establishments are non-employers or indeterminate and 11 have one or more employees.