Top 5 Insurance Companies in Canada
By International Desk: Canada’s insurance industry posted solid results in 2025, despite elevated catastrophe losses from wildfires, hailstorms, flooding and other severe weather events that caused billions of dollars in insured damages.
The property and casualty (P&C) segment recorded strong premium growth, supported by disciplined underwriting and higher rates in auto and property lines. Life insurers also benefited from steady demand for protection, retirement and wealth products, particularly as Canada’s population continues to age.
Here are the top five insurance companies and groups in Canada, ranked by overall scale, including premiums, assets and market influence, based on 2025 data:
Intact Financial Corporation remained Canada’s largest P&C insurer, with gross written premiums of about CAD 25.067 billion in 2025. The company holds an estimated 16–17 percent market share in the P&C sector. Led by CEO Charles Brindamour, Intact offers personal, commercial and specialty insurance through brands including Intact and BelairDirect. The company continued to report strong underwriting performance and premium growth, despite pressure from catastrophe losses.
Desjardins Group, including Desjardins Insurance, remained one of Canada’s strongest insurance groups, with about CAD 14.5 billion in direct premiums written in 2025. The group holds more than 10 percent of the national P&C market, with an even stronger position in Quebec. Under CEO Denis Dubois, Desjardins continues to benefit from its cooperative model, strong customer loyalty and a broad financial services network.
Manulife Financial remained a leading life and wealth insurer, with gross written premiums of around CAD 9.717 billion in 2025. Led by CEO Phil Witherington, Manulife has a major presence in life insurance, annuities, group benefits and wealth management. Its diversified operations across Canada, the United States and Asia continue to support stable earnings and long-term growth.
Sun Life Financial also maintained a strong position in Canada’s life and health insurance market, with gross written premiums of about CAD 7.17 billion in 2025. The company is led globally by CEO Kevin Strain, while Jessica Tan serves as President of Sun Life Canada. Sun Life remains a key provider of group benefits, health coverage, wealth products and individual insurance, supported by digital services and wellness-focused solutions.
Canada Life, part of Great-West Lifeco, remained one of Canada’s major life, health and retirement insurers, with gross written premiums of approximately CAD 25 billion in 2025. Led in Canada by President and CEO Fabrice Morin, the company has a strong position in workplace benefits, individual life insurance and retirement solutions. Its long history, large customer base and focus on digital transformation continue to support its market influence.
Intact continues to lead Canada’s P&C market, while Manulife, Sun Life and Canada Life remain dominant in life, health, wealth and retirement services. Desjardins adds strong cooperative and regional strength to the market. Despite rising climate-related risks and affordability concerns, Canada’s insurance sector remained resilient in 2025, supported by premium growth, investment income, technological advancement and steady demand from households and businesses.
