What is the biggest insurance company in Canada?

Manulife Financial
Manulife Financial (MFC) is the largest insurance provider in Canada and also offers financial services. The company is headquartered in Toronto, and in 2019 earned $61 billion Canadian in revenue ($47 billion U.S.), which included insurance premiums and income earned from investing those premiums.

Is Canada Life and Sunlife the same company?

Manulife acquired Standard Life and Maritime Life in Canada, and John Hancock in the U.S., where it operates under that brand. Sun Life Financial acquired Clarica Life Insurance. Great-West Life Assurance Company made two significant acquisitions – London Life Insurance and Canada Life Insurance.

How many insurance companies are in Canada?

As per the CLHIA, there are more than 150 life and health insurance providers in Canada, which is great for consumers looking for choice.

Is Sunlife and Manulife the same?

Sun Life Financial is the oldest life insurance provider in the Canadian market, and one of the ‘big three’ providers, along with Manulife and Great West Life. Among those, Sun Life is the largest life insurance provider as measured by Canadian premiums.

What are the top 3 insurance companies in Canada?

Intact, Desjardins, Aviva, Co-operators and TD Insurance are the leading property/casualty and car insurance providers in the country….Top Insurance Companies in Canada.

Rank Insurance Company Total assets, C$bn (12/31/2019)
1 Manulife Financial Corporation 809.130
2 Great-West Lifeco * 451.167
3 Desjardins ** 312.996
4 Sun Life Financial 297

Is Sun Life now Canada Life?

We have received regulatory approval to amalgamate as of Jan. 1, 2020. 1, 2020 we will become one company – The Canada Life Assurance Company. This will help position us for future growth and to continue to meet customer needs.

Is London life owned by Canada Life?

On Jan. 1, 2020 The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company and two holding companies amalgamated. They are now one company – The Canada Life Assurance Company™.

Does Manulife own Canada Life?

Canada Life Financial Corporation The company was acquired by Great-West Life Assurance Company in 2003, after rejecting a hostile takeover bid by rival Manulife.