5 biggest Life Insurance Companies in Canada

1
5 biggest Life Insurance Companies in Canada
2
The world of insurance is practically bottomless
in every way, and the market of Canada is also
home to some incredibly big names. It is
important to be aware of who is in the insurance
market in Canada. We are sharing a list of top 5
life insurance companies, ranked according to
their total assets in Canadian dollars.
3
K E Y C H A L L E N G E S
Life Insurance Companies in Canada
CHES Life
Manulife Financial
Power Financial
Sun Life Financial
Fairfax Financial
4
CHES Life
CHES Life is the Best Life Insurance provider in
Canada. CHES LIFE INC. offer a bespoke service
approach to assisting in making some important
decisions when it comes protecting your familys
assets and income, in future times of distress.
Our team of dedicated advisors have extensive
experience in sourcing the best coverage that
suits your particular circumstance, whether it is
larger limits of coverage required, age or health
issues or that the premium for peace of mind
needs to fit a family budget, we are here to
help. CHES Life Inc. design our products to
provide a specific and tailored protection policy
that gives you peace of mind at the right price.
5
Manulife Financial
Standing at the top of the list is Manulife
Financial, with a total asset value of a whopping
CAD 750.27 billion! Manulife is among the largest
providers of financial services in the world.
Their solutions include insurance, wealth
management, asset management and financial advice
in a range of aspects. Their life insurance
company practice has a massive portfolio. They
cater to a wide range of clientele, including
groups, companies, individuals and also
institutions of multiple sectors. The company
manages around trillion Canadian dollars worth
of assets. Their overall customer base is more
than 20 million customers across the globe. So
far, they have provided benefits to countless
customers with a total worth of over CAD 25
billion during the year. With an obsession for
customer satisfaction and thinking big, the
company regularly ventures into new areas to
provide solutions to their customers in every
possible manner.
6
Power Financial
Parent to one other company in the list and a
commonly heard name in the Canadian life
insurance market, Power Financial is another
behemoth with a total asset holding of CAD 447.06
billion in 2018. The companys primary business
practice is insurance with the addition of
reassurance, asset management and other services
as well, depending on the region. The company
holds the honor of being declared the best
provider for life insurance in multiple regions,
including foreign lands like the UK and Ireland.
The company works with prudent business practices
and believes in strong quality maintenance and
executive oversight. The company has a very sound
financial standing in the market and is opted for
life insurance by millions of customers to suit
their specific needs. The life insurance company
reviews for Canadian businesses often rank this
company as an essential part of the discussion.
7
Sun Life Financial
Sun Life Financial is one of the most trusted
names in the Canadian life insurance market, and
it is also a very successful life insurance
company. With a total asset figure of CAD 271.83
billion in 2018, it is currently serving an
incredibly large consumer base. Considering life
insurance company reviews, Readers Digest voted
it the Most Trusted Brand of Life Insurance in
Canada for the 10th consecutive time this year!
The company offers a range of life insurance
options, including term life insurance, permanent
life insurance, participating life insurance and
universal life insurance. The company has a
history of 150 years, during which time they have
managed to create a reliable station for millions
of customers, providing them with all the tools
to create the policy of their choice and
facilitating families at the time of death of
policyholders.
8
Fairfax Financial
Number 5 on the list is Fairfax financial, with
total assets management and administration of CAD
86.66 billion. It is involved in providing life
insurance services to a huge customer base along
with several other insurance instruments in its
belt. The company has been in existence since
1951 and actively participates in the insurance
market in Canada through a team of very competent
insurance experts. The most notable of all is the
CEO and Chairman of the holdings company Prem
Watsa, who is highly regarded for his business
acumen and even compared to Warren Buffet for his
investment strategies that focus primarily on
value generation. This same strategy also
translates to creating maximum value for their
customers as well to provide maximum satisfaction
as per the companys philosophy.
9
T H A N K Y O U !