Here is a list of the largest insurance companies in Canada ranked by total assets. Manulife Financial Corporation, headquartered in Toronto, Ontario, is the largest insurance company in Canada by assets, market capitalization and number of employees. It offers individual and group life insurance, annuities, asset management and other services. Great-West Lifeco is the second largest insurance company in the country by assets and the largest by gross and net premiums written. It is located in Winnipeg, Manitoba and is controlled by billionaire Paul Desmarais. Intact Financial (formerly ING Canada) is the 7th largest insurer by total assets and the largest property/casualty insurer by direct premiums written with a market share of approximately 15%. It provides personal and commercial auto insurance, property insurance, business insurance and specialty insurance products. The company’s shares are listed on the Toronto exchange with a market capitalization of C$19.2 billion as of October 10, 2019.

Rank Insurance Company Total assets, C$bn (March 31, 2019)
1 Manulife Financial Corp 779.914
2 Great-West Lifeco Inc (1) 442.492
3 Sun Life Financial 282.359
4 Fairfax Financial 91.386
5 iA Financial Corp 68.290
6 Desjardins Insurance * (2) 53.152
7 Intact Financial 27.918
8 E-L Financial Corp 22.862
9 The Empire Life Insurance Company 16.632
10 RBC Insurance (3) 16.102
11 The Co-operators Group * 15.002
12 Ivari (4) 12.379
13 SSQ, Life Insurance Company 12.308
14 Aviva Canada * 11.786
15 BMO Life Insurance Company 11.218
16 RGA Life Reinsurance Company of Canada 9.192
17 Swiss Reinsurance Company Ltd 9.182
19 Aviva Insurance Company of Canada 8.752
18 TD Insurance (5) 8.474
20 Wawanesa Mutual Insurance Company 8.261
21 La Capitale * 7.444
22 Genworth MI Canada Inc (6) 6.829
23 Munich Reinsurance Company 6.326
24 Economical Mutual Insurance Company 5.678
25 Royal & Sun Alliance Insurance Co. of Canada 4.680
26 AIG Insurance Company of Canada 4.655
27 Equitable Life Insurance Company of Canada 4.576
28 Allstate Insurance Company of Canada 3.963
29 Chubb Insurance Company of Canada 3.934
30 Primerica Life Insurance Company of Canada 3.897
31 Zurich Insurance 3.881
32 Dominion of Canada General Insurance Company 3.345
33 Aviva General Insurance Company 2.718
34 MD Life Insurance Company 2.659
35 Metropolitan Tower Life Insurance Company 2.461
36 Assurant Life of Canada 2.120
37 CUMIS Group Limited (7) 1.268
38 Foresters Life Insurance Company 1.607
39 Wawanesa Life Insurance Company 1.566
40 Blue Cross Life Insurance Company of Canada 1.285

* Data as of December 31, 2018.
1 - Great-West Lifeco operates as a subsidiary of Power Financial Corporation.
2 - Total assets for Desjardins Financial Security Life Assurance Company and Desjardins General Insurance Group.
3 - Total assets for RBC Insurance Company of Canada and RBC Life Insurance Company. RBC General Insurance Company was acquired by Aviva Canada.
4 - Ivari is one of the leading individual life insurance providers in Canada. It was previously known as Transamerica Life Canada, a wholly-owned subsidiary of AEGON N.V.
5 - TD Insurance refers to the following companies: Security National Insurance, TD Home and Auto Insurance Company, TD Life Insurance Company, Primmum Insurance Company, TD General Insurance Company, TD Direct Insurance and Meloche Monnex Inc, a subsidiary of The Toronto-Dominion Bank.
6 - Genworth MI Canada Inc is the largest private residential mortgage insurer in Canada.
7 - CUMIS Group consists of CUMIS Life Insurance Company and CUMIS General Insurance Company. CUMIS Group operates as a subsidiary of Co-operators Group Limited.

Updated as of October 11, 2019