  The life insurance sector recorded a turnaround with a 6.2 percent increase in gross premiums to $ million from a decline in 2017 and is attributed to the continued uptake of investment-linked endowment products. 2    Honourable Chair, the risk transfer role that the insurance industry provides is vital to the sustainability of our economy.
And as we worked to update our monetary policy framework, we hosted a series of listening events across the country before and during the pandemic, and these conversations factored importantly into our thinking and our new framework.