List of Canadian insurance companies
This is a list of Canadian insurance companies.
The top insurance providers in Canada are Manulife, Canada Life (subsidiary of Great-West Lifeco), Sun Life Financial, Desjardins, and IA Financial Group (aka Industrial Alliance).[1][2] Smaller insurers include those operating as subsidiaries of banks, such as CIBC Insurance and TD Insurance.[2]
Current insurance carriers[edit]
 |
- Allstate Canada — Canadian subsidiary of Allstate (US).
- Assumption Life
- Assurant Canada[3]
- Aviva Canada
- Beneva (created through merger of La Capitale and SSQ Insurance)
- CAA Insurance Company
- Canadian Association of Blue Cross Plans
- Canadian Premier[4]
- Combined Insurance Canada — Canadian subsidiary of Combined Insurance (US).[5]
- The Co-operators Group
- Desjardins Insurance
- Economical Insurance
- Foresters Financial
- Empire Life
- Equitable Life of Canada[6]
- Federated Insurance Company of Canada
- Gore Mutual Insurance Company
- Great American Insurance Company
- Great-West Lifeco, Inc. — insurance-centered financial holding company
- Green Shield Canada
- Humania[7]
- IA Financial Group
- Intact Financial ONTARIO
- Knights of Columbus
- Manulife
- John Hancock Financial (based in the US)
- Munich Re Canada
- Primerica Canada — Canadian subsidiary of Primerica (US).
- Reliable Life[8]
- Sun Life Financial
- Swiss Re
- Teachers Life
- UV Insurance (formerly the Union Life Mutual Assurance Company, or UL Mutual)[9]
- Wawanesa Insurance
- Wawanesa Life
Bank-affiliated carriers[edit]
- BMO Life
- CIBC Insurance
- National Bank Insurance
- RBC Insurance
- Scotia Life
- TD Insurance
Government-owned insurance companies[edit]
Consolidation of former insurance carriers[edit]
 |
| Company | Acquired by / Merged into | Year acquired | Notes |
|---|---|---|---|
| Aetna Canada Assurance | Maritime Life | 1999 | |
| Canada Life Assurance Company | Great-West Lifeco. | 2003 | |
| Clarica Life Assurance (formerly Mutual Life Assurance Co.) | Sun Life Financial | 2002 | |
| Commercial Union Life Assurance | Manulife | 2001 | |
| Confederation Life Assurance Co. | Manulife and Maritime Life | 1995 (receivership) | Purchase of its Canadian business units |
| Crown Life Assurance Co. | Canada Life Assurance | 1998 | |
| Dominion of Canada General Insurance Co. (aka The Dominion) | The Travelers Companies | 2013 | Acquired by The Travelers Companies in November 2013, and became part of its subsidiary, Travelers Canada |
| Hartford Steam Boiler Inspection and Insurance Company | Munich Re | ||
| Imperial Life | Desjardins Group | 1994 | |
| La Capitale | Beneva | Merged with SSQ Insurance to create Beneva. | |
| Laurentian Life | Imperial Life | 1993 | |
| Liberty Health | Maritime Life | 2003 | |
| London Life Insurance Company | Great-West Lifeco. | 1997 | |
| Maritime Life | Manulife | 2004 | Purchased by Manulife as part of the John Hancock Insurance acquisition. |
| Metropolitan Life | Mutual Life | 1998 | Canadian operations purchased by Mutual Life (which later became Clarica Life Assurance) |
| Mutual of Omaha | RBC Insurance | 1998 | Purchase of its Canadian operations |
| New York Life | Canada Life Assurance Company | 1994 | Purchase of its Canadian operations |
| North American Life | Manulife | 1995 | Merged |
| Ontario Blue Cross | Liberty Health | 1995 | Group insurance operations obtained |
| Prudential Assurance Co. | Sun Life Assurance Company of Canada | 1996 | Purchase of its Canadian operations |
| Prudential Insurance Co. of America | London Life Insurance Company | 1995 | Purchase of its Canadian operations |
| Royal & SunAlliance Ins. Co. | Maritime Life | 2001 | Purchase of its Canadian operations |
| UnumProvident | RBC Insurance | 2004 | Purchase of its Canadian operations |
| SSQ Insurance | Beneva | Merged with La Capitale to create Beneva. | |
| State Farm | Desjardins Financial Security | 2014 | |
| Westbury Canadian Life | RBC Insurance | 2004 | |
| Western Life Assurance Company[12] | Wawanesa Life | 2020 | Amalgamated |
| Zurich Life Insurance of Canada | Manulife | 2001 | Canadian group life & health business purchased |
References[edit]
- ^ "The 5 Big Names in Canadian Insurance". Investopedia. Retrieved 2021-10-04.
- ^ a b "The Biggest Life Insurance Companies in Canada 2021 - Full List". www.policyadvisor.com. Retrieved 2021-10-04.
- ^ "Who we are". www.assurant.ca. Retrieved 2021-10-04.
- ^ "About Us". Canadian Premier. Retrieved 2021-10-04.
- ^ "Homepage". www.combinedinsurance.com. Retrieved 2021-10-04.
- ^ Canada, Equitable Life of. "Equitable Life Insurance Company of Canada". www.equitable.ca. Retrieved 2021-10-04.
- ^ "Humania Assurance, a leader in health insurance products". www.humania.ca. Retrieved 2021-10-04.
- ^ "About Reliable Life Insurance Company". www.reliablelifeinsurance.com. Retrieved 2021-10-04.
- ^ "UL Mutual to become UV Insurance". UV Insurance. Retrieved 2021-10-04.
- ^ CPP-owned Wilton Re buys Transamerica’s Canadian business, Advisor
- ^ "Company information | ivari". 2015-10-19. Retrieved 2021-10-04.
- ^ "Amalgamation of Wawanesa Life and Western Life positions company for growth". Wawanesa Insurance. Retrieved 2021-10-04.