List of insurance companies in Canada: Government-Owned and Private Options

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Canada has a diverse range of insurance companies, offering various options for individuals and businesses.

The government-owned insurance companies in Canada include the Canada Life Assurance Company, which has been in operation since 1847 and offers a wide range of insurance products.

The Canada Life Assurance Company is one of the largest life insurance companies in Canada, with a history dating back to 1847.

Insurance Companies in Canada

Canada has a diverse range of insurance companies, including top players like Allstate, Aviva, and Intact Insurance. These companies offer various types of insurance products, including auto and home insurance.

Some notable players in the Canadian insurance market include RSA Group Canada Insurance Co, Saskatchewan Government Insurance, and BFL CANADA risques et assurances inc. Chubb, a global insurance company, also has a presence in Canada, with its headquarters located in Ontario.

Here are some of the top life insurance companies in Canada, ranked by Assets Under Administration (AuA) in billions of CAD:

Top Insurance Companies

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Canada has a plethora of insurance companies to choose from, each with their own unique offerings and strengths. Let's take a look at some of the top insurance companies in Canada.

Allstate, Apollo, and Aviva are just a few of the many insurance companies operating in Canada. In fact, there are over 30 insurance companies listed in the article section, each with their own strengths and weaknesses.

Some of the top insurance companies in Canada include Allstate, Apollo, Aviva, CAA Insurance, Coachman Insurance, Desjardins Insurance, Economical Insurance, Facility Association, Gore Mutual Insurance, Intact Insurance, and Jevco Insurance. These companies offer a wide range of insurance products, including auto, home, and life insurance.

Here's a list of some of the top insurance companies in Canada:

  • Allstate
  • Apollo
  • Aviva
  • CAA Insurance
  • Coachman Insurance
  • Desjardins Insurance
  • Economical Insurance
  • Facility Association
  • Gore Mutual Insurance
  • Intact Insurance
  • Jevco Insurance
  • Onlia Insurance
  • Optiom Insurance
  • MAX Insurance
  • Pafco Insurance
  • Pembridge Insurance
  • Perth Insurance
  • RBC Insurance
  • RSAGroup Canada Insurance Co
  • SGI Insurance
  • Sonnet Insurance
  • Square One Insurance
  • TD Insurance
  • Travelers Insurance
  • Wawanesa Insurance

These companies are just a few examples of the many insurance companies operating in Canada. It's always a good idea to do your research and compare quotes from multiple companies before making a decision.

High-Risk Insurers

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High-risk insurers are a type of specialized insurance company that deals with drivers who are considered high-risk.

Perth and Jevco are two examples of high-risk insurance companies in Canada. They work with The Facility Association to provide affordable car insurance to young drivers and people with a history of collisions or claims.

High-risk insurance is often necessary for drivers who have been convicted of serious crimes, such as a DUI or stunt driving.

Defunct

You might be surprised to learn that some insurance companies in Canada have ceased operations over the years.

The Canadian Mutual Life Assurance Company was one such company that went defunct in 1911.

It's worth noting that the reasons for a company's demise can vary widely, but in this case, the Canadian Mutual Life Assurance Company's assets were transferred to the Manufacturers Life Insurance Company.

The London Assurance Company also shut down its Canadian operations in 1997, marking the end of a long history in the country.

The company's assets were eventually acquired by the Great-West Life Assurance Company.

Insurance Categories

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Insurance Categories are numerous in Canada, but let's break down the most common types.

Life Insurance is a must-have for many Canadians, providing financial security for loved ones in case of unexpected death or disability.

Health Insurance is another crucial category, with many Canadians relying on it for medical expenses and hospital stays.

Travel Insurance is perfect for those who love to explore Canada or travel abroad, covering unexpected medical or travel-related expenses.

Home and Auto Insurance bundle is a popular choice for Canadians, combining coverage for their homes and vehicles into a single policy.

Disability Insurance is a vital protection for Canadians, providing income replacement in case of illness or injury that prevents them from working.

Insurance Types

Health insurance is a must-have for Canadians, with many companies offering plans that cover medical expenses, hospital stays, and prescription medications.

Life insurance is another popular type, providing financial security for loved ones in the event of a policyholder's passing.

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Home insurance protects homeowners from damage to their property, including theft, fire, and natural disasters.

Auto insurance is required by law in most provinces, covering damages to vehicles, other people, and property.

Travel insurance is essential for Canadians who frequently travel abroad, covering unexpected medical or travel-related expenses.

Disability insurance provides financial support to individuals who become unable to work due to injury or illness.

Insurance Providers

TuGo is a travel insurance company that has been around for over 50 years, offering a range of products including travel insurance for Canadians.

Some of the top insurance providers in Canada include TuGo, TourMed, and Blue Cross, which are among the largest life and health insurance companies in eastern Canada. Blue Cross has over 75 years of expertise in providing quality insurance products.

Here are some of the top insurance providers in Canada:

  • TuGo
  • TourMed
  • Blue Cross
  • Escapade Travel Insurance
  • Ingle International
  • GMS Group Medical Services

These companies offer a wide range of insurance products, including travel insurance, health insurance, and life insurance. They have a strong presence in Canada and are known for their excellent customer service and quality products.

Benson Kearley Ifg

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Benson Kearley IFG is an insurance company based in Ontario.

It operates as a Public Company, which means it's a publicly traded company that can be bought and sold on the stock market.

Benson Kearley IFG has a relatively small workforce, with between 51 and 100 employees.

The company's revenue is also modest, falling within the range of $51,000 to $100,000.

This suggests that Benson Kearley IFG is a smaller player in the insurance industry, but still a legitimate and established company.

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Travel Brokers

TuGO is a friendly company that cares about you and what you need on your travels, with hundreds of employees across Canada, thousands of partners, and millions of customers.

They offer a range of travel insurance products, including easy-to-get coverage for Canadians. TuGO has over 50 years of expertise in the industry.

GMS Group Medical Services has been providing travel and health insurance to Canadians and people visiting Canada since 1949. They offer a range of travel insurance products, including multi-trip plans and emergency hospital and medical plans.

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Ingle International provides customized travel insurance solutions for individuals and groups, representing insurers worldwide. They've been in the business since 1946, specializing in insurance, healthcare, and emergency assistance services.

Escapade Travel Insurance has been deploying its expertise in travel and expatriation insurance since 1990. They offer a range of products and services to support and secure medically anyone traveling or residing outside their country of origin.

Best Rate Offers

You can get a good idea of the best rate offers by comparing quotes from top insurance providers. This can be done online in just a few minutes, and it's completely free.

Allstate, Apollo, and Aviva are just a few of the many Canadian home insurance companies that offer competitive rates. They're also well-established and reputable, which is a big plus.

Comparing quotes from multiple providers is a great way to save hundreds of dollars. For example, you can compare personalized home insurance quotes from top Canadian insurers online.

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Some of the top Canadian auto and home insurance companies include Allstate, Apollo, Aviva, and more. Here's a list of some of the top providers:

  • Allstate
  • Apollo
  • Aviva
  • CAA Insurance
  • Coachman Insurance
  • Desjardins Insurance
  • Economical Insurance
  • Facility Association
  • Gore Mutual Insurance
  • Intact Insurance
  • Jevco Insurance
  • Onlia Insurance
  • Optiom Insurance
  • MAX Insurance
  • Pafco Insurance
  • Pembridge Insurance
  • Perth Insurance
  • RBC Insurance
  • RSA Insurance
  • SGI Insurance
  • Sonnet Insurance
  • Square One Insurance
  • TD Insurance
  • Travelers Insurance
  • Wawanesa Insurance

Bank-affiliated carriers like RBC Insurance and TD Insurance also offer competitive rates. They're often a good option if you're already banking with one of these institutions.

Government-Owned

Government-Owned Insurance Providers are a unique breed. They're owned and operated by the government, which can provide an added layer of stability and security for policyholders.

In Canada, you can find government-owned insurance companies in several provinces. The Insurance Corporation of British Columbia and Manitoba Public Insurance are two examples.

Saskatchewan Government Insurance and Société de l'assurance automobile du Québec are also government-owned insurance providers in Canada.

Here's a list of some government-owned insurance companies in Canada:

  • Insurance Corporation of British Columbia
  • Manitoba Public Insurance
  • Saskatchewan Government Insurance
  • Société de l'assurance automobile du Québec

Midsize for Business

If you're a small to medium-sized business owner in Canada, you're likely looking for insurance providers that cater to your needs. Midsize companies like Belairdirect and Allstate Canada offer business insurance solutions.

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These midsize companies have a presence in Canada and can provide you with the right coverage for your business. For example, Belairdirect offers business insurance quotes, while Allstate Canada provides event insurance quotes.

If you're looking for more options, here are some midsize insurance companies in Canada with a revenue range of 251-500:

  • FCT Vancouver Office
  • Equitable Life Of Canada
  • BFL CANADA risques et assurances inc.
  • RE / MAX EXCELLENCE INC.: ANTHONY LAPOLLA
  • Global Excel Management Inc
  • OHRA
  • 123 Money Ltd
  • TouchBistro
  • Purolator International
  • FM

These companies can help you find the right business insurance coverage for your industry and needs.

Frequently Asked Questions

Is State Farm still in Canada?

No, State Farm is no longer operating in Canada as it sold its Canadian operations to Desjardins Financial Security Life Assurance Company. Canadians seeking insurance services can now contact Desjardins for assistance.

Lisa Ullrich

Senior Copy Editor

Lisa Ullrich is a meticulous and detail-oriented copy editor with a passion for precision. With a keen eye for grammar and syntax, she has honed her skills in refining complex ideas and presenting them in a clear and concise manner. Lisa's expertise spans a wide range of topics, from finance and economics to technology and culture.

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