Top 10 Insurance Companies in Canada

An insurance allows you to manage financial risks. The insurance providers offer an extensive range of insurance products to provide financial stability to its customers. Moreover, there are insurance providers in Canada that have partnered with banks, brokerage companies, and other financial institutions to provide a wide range of products and services to its customers.

If you are planning to buy an insurance in Canada, we have listed 10 of the best insurance companies in Canada here to help you out.

List of top insurance companies in Canada 2017

Here are the list of best insurance companies in Canada. There is no such ranking mechanism followed, this list is prepared as per the reputation and the business size of the insurance company and totally as per our personal opinion. You can also share your list of Top 10 Insurance Companies in Canada as per your preferred criteria by writing a comment below.

La Capitale Financial Group

With more than 75 years of experience in the industry, La Capitale is one of the most popular insurance companies in Canada. While the company only had a major presence in Quebec until 2006, it has spread itself throughout Canada in the recent years. The company offers a wide range of individual and business insurance products for several budgets and needs.

Empire Life

Established in the year 1923, Empire Life is one of the top 10 insurance companies in Canada and has been rated A (Excellent) by the A.M. Best Company. Moreover, in the year 2013, the company also received the award for being the Best Life Insurance in Canada. Apart from a wide range of insurance products and services, the company also offers several investment-related products.

RBC Insurance

Royal Bank of Canada is one of the leading financial service providers in North America. RBC Insurance is a subsidiary of RBC Bank and offers a comprehensive range of health, life, auto, home, travel, and reinsurance products for individuals. Moreover, the company also offers business and creditor insurance services for businesses as well as group clients.

SSQ Financial Group

With more than 3 million customers, SSQ Financial Group is the next top insurance company in Canada. The company has more than 2,000 employees and manages more than $11 billion in assets. Apart from insurance, the company also offers a wide range of financial and investment products and services.


Desjardins is one of the largest cooperative financial organizations in Canada. With an experience of more than a century in the industry, the insurance company has turned itself into a prestigious insurance company with a rich heritage. Apart from many different types of insurance products for individuals and businesses, the company also offer several financial products and services.

Industrial Alliance Insurance

Incorporated in the year 1892, Industrial Alliance Insurance is now a full-fledged insurance provider which offers excellent medical and life insurance products. While the company is very popular for its life insurance products, there has been a significant rise in the number of Canadians opting for its property and casualty insurance. Moreover, it is one of the insurance providers in Canada which offers a life insurance product without any medical exam.

Fairfax Financial

Based in Toronto, Fairfax Financial is a reputed insurance company which majorly offers casualty and property insurance, life insurance and reinsurance products. The company has several subsidiaries all over the world and manages more than $35 billion in assets. It has more than 8,500 employees throughout the world and is also a major player in the world of financial products and services.

Sun Life Financial

It is said that one in every five Canadian uses the products or services offered by Sun Life Financial. This is more than enough to understand the popularity of the company in Canada. Apart from Canada, the company also has an excellent presence in the UK, North America, and Ireland.

Manulife Financial

At the 2nd spot on this top 10 insurance companies in Canada list is Manulife Financial. If the revenue of the insurance company is taken into consideration, Manulife Financial is the largest insurance company in Canada. The company offers a wide range of insurance products, retirement plans, and group benefit plans. In the year 2015, Manulife Financial acquired Standard Life Assurance Company in Canada which significantly increased its customers and network throughout the country.

Great-West Lifeco

Great-West Lifeco has been named as the best insurance company in Canada for several years. In the year 2015 alone, the company collected more than 2.7 billion dollars in premiums which is far more than other top insurance companies in Canada. One of the major reasons for the tremendous popularity of the company is its unique life insurance products, like permanent, term, universal and participating.

Which one is the best Insurance Companies in Camada?

Pick one from the options mentioned above to ensure that you are adequately protected at times of need. Write a comment below and share your experience to declare a company as best insurance company in Canada. You can also share your criteria to select an insurance company in Canada. I hope this article will help you to make your decision.