Canada's Largest Insurance Companies

Following is a list of the top insurance companies in Canada ranked by total assets. Manulife Financial Corporation is the largest Canadian insurer in terms of assets and market capitalization. Headquartered in Toronto, it employs over 35,000 people and serves about 30 million customers worldwide. Great-West Lifeco, a subsidiary of Power Financial Corp, is the second-largest insurer in Canada by assets and the largest by gross premiums written. Intact, Desjardins, Aviva, Co-operators and TD Insurance are the leading property/casualty and car insurance providers in the country. The top 10 Canadian insurance companies hold combined assets of about C$2.5 trillion.

Total Assets as of June 30, 2021

* Great-West Lifeco Inc is a subsidiary of Power Financial Corp., a member of Power Corporation of Canada.
** Desjardins's insurance subsidiaries include Desjardins Financial Security (DFS) and Desjardins General Insurance Group, one of the leading property/casualty insurers in the country.
*** Aviva Canada's subsidiaries include Aviva Insurance Company of Canada, Aviva General Insurance Co., Elite Insurance Co., Pilot Insurance Co., S&Y Insurance Co., Scottish & York Insurance Co., and Traders General Insurance Co.
**** TD Insurance refers to Meloche Monnex Inc and its subsidiaries (TD Home and Auto Insurance Company, TD General Insurance Company, Primmum Insurance Company, Security National Insurance Company) as well as TD Life Insurance Company and TD Direct Insurance Inc.
^ In July 2020, La Capitale and SSQ Insurance combined operations to become Beneva. La Capitale will transition to Beneva in 2022.
^^ Sagen MI Canada Inc (Sagen Mortgage Insurance Company Canada) was formely known as Genworth MI Canada. It is the largest private residential mortgage insurer in Canada.

Last updated March 30, 2023