Canada’s 5 Most Reliable Insurance Companies

Canada’s 5 Most Reliable Insurance Companies

Canada’s 5 Most Reliable Insurance Companies – Insurance Companies in Canada: Canada is a country in North America. The government has ten provinces Which extend from the Atlantic Ocean to the Pacific Ocean and the Arctic Ocean in the north.

In 1867, with the union of the three British North American colonies through Confederation, Canada was formed as a federal dominion of four provinces. Since the colonial period, the economic condition of the country’s people started to improve.

See Also: TOP 5 DIFFICULTIES CONFRONTING THE INSURANCE BUSINESS IN 2022

However, since its inception, a few insurance companies have played the most active role during various types of disasters. Today we will discuss 5 Famous Insurance Companies in Canada.

1. Empire Life Insurance Companies in Canada

It was founded in 1923 by Milton Palmer Langstaff. In 1936 it merged with Mutual Relief Life Insurance Company. However, after the acquisition of Mutual Relief Life Insurance Company, the company moved out of its headquarters.

In 2002, Empire Life and Concordia merged into one company called The Empire Life Insurance Company (or L’Empire, Compagnie d’Assurance-Vie). From 1987 to 2005, Empire Life, the marketing name of Empire Financial Group but was rebranded as Empire Life in 2006.

2. West Life insurance Companies in Canada

West Life Assurance Company is the result of the merger of London Insurance Group Inc. as well as Canada Life Financial Corporation. Toronto-based property and wealth management arm of Great-West Life, founded in 1993. Canada Life Assurance Company (CLAC), Canada’s first life insurance company. Which was established in 1847.

See Also: HOW TO FINE THE BEST EXCLUSIVE LIFE INSURANCE LEADS IN 2022

3. Manulife Financial Corporation

Manulife is Canada’s largest insurance company. 28th largest fund manager based on global institutional assets under management (AUM). Its headquarters are located in Toronto, Ontario. Moreover, the company operates in Canada and Asia. The number of employees of the company is about 34 thousand.

4. The Manufacturers Life Insurance Company

Founded in 1887 as The Manufacturers Life Insurance Company, a private stock company. Its first president was John A. MacDonald, Canada’s first Prime Minister. Also, it sold its first policy outside of Canada in 1893 in Bermuda, where the company opened its first subsidiary that same year.

5. Sun Life Financial

Sun Life Financial is primarily known as a life insurance company. In 1865, an Irish immigrant founded The Sun Insurance Company in Montreal, Quebec.