List of largest insurance companies in Canada

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.

RankName of companyAssets
1Manulife Financial Corporation835.227
2Great-West Lifeco584.062
4Sun Life Financial325.200
5Fairfax Financial99.372
6iA Financial Corp88.997
7Intact Financial59.617
8E-L Financial Corp25.755
9La Capitale (Beneva)25.035
10RBC Life Insurance Company19.920
11The Co-operators Group18.881
12Aviva Canada16.996
13TD Insurance14.464
14BMO Life Insurance Company13.404
16RGA Life Reinsurance Company of Canada11.407
17Wawanesa Mutual Insurance Company10.031
18Swiss Reinsurance Company Ltd9.079
19Sagen MI Canada Inc7.603
20Munich Reinsurance Company7.148

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.

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