Leading Insurance Companies In Canada, By Total Assets

Manulife Financial was the largest Canadian insurance company in 2020, with total assets amounting to approximately 880.35 billion Canadian dollars. The second and third largest insurers in that year in Canada were Power Corporation of Canada and Great-West Lifeco, both with total assets amounting to over 600 billion Canadian dollars.

Who are Manulife Financial?

Manulife Financial was founded in 1887 and is headquartered in Toronto, Ontario. It was one of the biggest insurance companies worldwidein 2017. Manulife Financial offers insurance and wealth management services, and operates mainly in North America and Asia. Their assets have been steadily growing since 2014.

Manulife Financial merged with John Hancock in 2004 and operates through the John Hancock name in the United States. Its U.S. division was one of the largest insurance companies by total assets in 2018 in the United States. The dividends per common share of the company has been on the rise since 2014.

Leading insurance companies in Canada by total assets

Characteristic Total assets in billion Canadian dollars
Manulife Financial Corp 880.35
Power Corp of Canada* 629.1
Great-West Life Co Inc 600.49
Desjardins Group 362.04
Sun Life Financial Inc 323.01
iA Financial Group 86.47
Fairfax Financial 70.51
Intact Financial 32.29
E-L Financial Corp 23.75
Empire Life Insurance Co 18.72