The Insurance Brokers Association of Canada (IBAC) worked with Deloitte to study the impact of their member brokers on the economy.
The study concluded that IBAC Member Brokerages contributed roughly $5.4B to Canada’s GDP in 2017. Other interesting national results include that 88% of brokerages are local independent businesses and 90% of brokerages donated to charities and social causes within their communities.
Looking at our members alone, IBAO Member Brokerages contributed roughly $2.1B to Canada’s output and $1.6B to Canada’s GDP in 2017. It was also estimated that about 16,900 full-time jobs were sustained by our member brokerages.
You can view the full report on IBAC’s website.
