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The life insurance landscape in Canada is quite unique. The infographic below shows all the key players and their size, reflecting their assets under management (AUM) based on life and wealth segments of the company’s business.
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In Canada, the majority of insurers fall under the umbrellas of three large companies: Manulife Financial (also owns John Hancock and other companies in the United States) Sun Life Financial and Great-West Life. These companies are involved in all aspects of life, business, health and group insurance, and they also handle wealth management and pension plan administration. Some of the various companies are also involved in banking.
Here is a list of key Canadian life insurance companies
- AMA (Life Insurance Reviews for AMA)
- BCAA (Life Insurance Reviews for BCAA)
- Blue Cross Associations (Life Insurance Reviews for Blue Cross)
- BMO Life Insurance (Life Insurance Reviews for BMO Insurance)
- CAA Associations
- Canada Protection Plan
- CIBC Insurance (Life Insurance Reviews for CIBC Life Insurance)
- Co-operators (Life Insurance Reviews for Co-operators)
- Desjardins including State Farm (Life Insurance Reviews for Desjardins Insurance or Life Insurance Reviews for State Farm)
- Empire Life (Life Insurance Reviews for Empire Life)
- Equitable Life of Canada (Life Insurance Reviews for Equitable Life)
- FaithLife Financial (offering Permanent Life Insurance and Life Insurance for Children products among others).
- Foresters (Life Insurance Reviews for Foresters)
- Great-West Life including Canada Life, London Life (Life Insurance Reviews for Great-West Life or Life Insurance Reviews for London Life or Life Insurance Reviews for Canada Life)
- Green Shield Canada Assumption Life
- Humania Assurance
- Industrial Alliance (Life Insurance Reviews for Industrial Alliance)
- Ivari – former Transamerica (Life Insurance Reviews for Ivari)
- La Capitale (Life Insurance Reviews for La Capitale)
- Manulife Financial including Standard Life, Maritime life and John Hancock in the USA (Life Insurance Reviews for Manulife or Life Insurance Reviews for Standard Life)
- Primerica (Life Insurance Reviews for Primerica)
- RBC Life Insurance (Life Insurance Reviews for RBC Insurance)
- ScotiaLife Financial (Life Insurance Reviews for ScotiaLife Insurance)
- SSQ Financial Group (Life Insurance Reviews for SSQ Insurance)
- Sun Life Financial including Clarica (Life Insurance Reviews for Sun Life Financial)
- TD Insurance (Life Insurance Reviews for TD Insurance)
- Wawanesa Life (Life Insurance Reviews for Wawanesa Life Insurance)
Remember, this is an industry that changes rapidly, so this list may change from time to time.
If you are searching for affordable life insurance or disability insurance, our brokers are happy to assist you by providing a quote, or by simply answering any of your questions.
We thank nomedicallifeisurance.ca – a leading Canadian website for no medical life insurance for this infographic.
Searching for a similar overview of property and casualty insurance companies in Canada? You can find it here (or by clicking on the picture).
Source of AUM data: Annual reports / Company websites / Nomedicallifeinsurance.ca