Who owns whom on the Canadian Life Insurance market

Top Canadian Life Insurance Companies The insurance market in Canada is full of various companies, which baffles a lot of potential insurance holders. The choice of your insurance provider should not be an ordeal, so we have analyzed the health and life protection companies and divided them into five groups based on their AUM, or assets under management. The biggest part of the market, though, belongs to the three largest life insurance corporations: Great-West Life, Manulife Financial (which in turn owns American John Hancock), and Sun Life Financial. The overview provided by nomedicallifeinsurance.ca features the small companies that are owned by bigger ones, and many other insurers arranged in groups.

The other four groups include: 1. Independent insurance companies, which focus solely on life and health insurance. They are Canadian insurers (Green Shield of Canada, Humania, Canadian Protection Plan) and American insurers (Primerica and Ivari); 2. Universal insurance providers, which provide non-life and life insurance altogether (Wawanesa Life, La Capitale, etc.); 3. Banks. Apart from providing financial assistance, some banks also provide advice on life insurance and related topics (Scotia Life Insurance, TD Life Insurance etc.); 4. Other insurers. Those include associations like Blue Cross, The Canadian Automobile Association, BCAA life insurance, and AMA life insurance. In fact, the last three are underwritten by Manulife and represent a typical scenario for association-provided insurance.