In this article, we are going to see the list of the largest insurance companies in the Canada by total assets. Let’s see now which are the 20 largest Canadian insurance companies.
In the first place of the ranking of the biggest insurance companies in Canada is Manulife Financial. Great-West Lifeco is the second place of the ranking. Desjardins is the third largest insurance company in the country, followed by Sun Life Financial, Fairfax Financial, iA Financial Corp, Intact Financial, E-L Financial Corp, La Capitale (Beneva) and RBC Life Insurance Company. The top 10 Canadian insurance companies hold combined total assets of about C$2.0 trillion. In the last place of the ranking of the largest insurance companies in Canada is Munich Reinsurance Company.
|Rank||Name of company||Assets|
|1||Manulife Financial Corporation||835.227|
|4||Sun Life Financial||325.200|
|6||iA Financial Corp||88.997|
|8||E-L Financial Corp||25.755|
|9||La Capitale (Beneva)||25.035|
|10||RBC Life Insurance Company||19.920|
|11||The Co-operators Group||18.881|
|14||BMO Life Insurance Company||13.404|
|16||RGA Life Reinsurance Company of Canada||11.407|
|17||Wawanesa Mutual Insurance Company||10.031|
|18||Swiss Reinsurance Company Ltd||9.079|
|19||Sagen MI Canada Inc||7.603|
|20||Munich Reinsurance Company||7.148|
The data used in this work are expressed in billions of CAD and have been extracted from the financial statements of 30/06/2021 for all the insurance companies.