The insurance sector has a significant weight in the Canadian economy, thus directly and indirectly influencing the economy of Canada. Let’s see now the 40 Canadian largest insurance companies by total assets.
Manulife Financial Corporation is the largest insurer in Canada by assets and market capitalization. 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. Desjardins is the third largest insurance company in the country, followed by Sun Life Financial, Fairfax Financial, iA Financial Corp, Intact Financial, E-L Financial Corp, La Capitale (Beneva) and RBC Life Insurance Company. The top 10 Canadian insurance companies hold combined total assets of about C$2.0 trillion.
In the last three places of the ranking there are: Foresters Life Insurance Company, Continental Casualty Company and Travelers Insurance Company of Canada.
| Rank | Insurance Company | Total assets |
| 1 | Manulife Financial Corporation | 835.227 |
| 2 | Great-West Lifeco | 584.062 |
| 3 | Desjardins | 389.278 |
| 4 | Sun Life Financial | 325.200 |
| 5 | Fairfax Financial | 99.372 |
| 6 | iA Financial Corp | 88.997 |
| 7 | Intact Financial | 59.617 |
| 8 | E-L Financial Corp | 25.755 |
| 9 | La Capitale (Beneva) | 25.035 |
| 10 | RBC Life Insurance Company | 19.920 |
| 11 | The Co-operators Group | 18.881 |
| 12 | Aviva Canada | 16.996 |
| 13 | TD Insurance | 14.464 |
| 14 | BMO Life Insurance Company | 13.404 |
| 15 | Ivari | 13.370 |
| 16 | RGA Life Reinsurance Company of Canada | 11.407 |
| 17 | Wawanesa Mutual Insurance Company | 10.031 |
| 18 | Swiss Reinsurance Company Ltd | 9.079 |
| 19 | Sagen MI Canada Inc | 7.603 |
| 20 | Munich Reinsurance Company | 7.148 |
| 21 | Economical Mutual Insurance Company | 6.993 |
| 22 | Equitable Life Insurance Company of Canada | 6.311 |
| 23 | Northbridge General Insurance Corp | 5.507 |
| 24 | Royal & Sun Alliance Insurance Co. of Canada | 4.938 |
| 25 | Allstate Insurance Company of Canada | 4.946 |
| 26 | AIG Insurance Company of Canada | 4.660 |
| 27 | Dominion of Canada General Insurance Company | 3.616 |
| 28 | Chubb Insurance Company of Canada | 4.394 |
| 29 | Primerica Life Insurance Company of Canada | 4.308 |
| 30 | Zurich Insurance Company Ltd | 4.210 |
| 31 | Canada Guaranty Mortgage Insurance Company | 3.243 |
| 32 | Metropolitan Tower | 2.746 |
| 33 | Assurant Life of Canada | 2.393 |
| 34 | MD Life Insurance Company | 2.244 |
| 35 | Hannover Rück SE | 1.998 |
| 36 | Brookfield Annuity Company | 1.852 |
| 37 | Blue Cross Life Insurance Company of Canada | 1.845 |
| 38 | Foresters Life Insurance Company | 1.750 |
| 39 | Continental Casualty Company | 1.776 |
| 40 | Travelers Insurance Company of Canada | 1.360 |
The data used, in the rankings of Canadian insurance companies by total assets were collected from the main financial sites. The data of total assets are expressed in billions of CAD for all insurance companies and refers to 30/06/2021.