Global connections to the insurance industry.
Toronto is home to one of the strongest and most globally oriented insurance industries in the world. It is continuously developing innovative products to reflect and anticipate the changing consumer needs and expectations.
Life And Health Insurance
Over 60 life and health insurers have their head offices in the Toronto region. Three of these firms – Manulife Financial, Sun Life Financial and Great West Lifeco – rank among the top 15 in the world, based on market capitalization. With over $690 billion in long-term investments in Canada, the industry is one of the country’s most important sources of long-term capital and employment.
Canadian life and health insurance companies operate in more than 20 countries, holding approximately $1.6 trillion or half of their assets abroad.
Property and Casualty
The property and casualty insurance sector in Canada is highly competitive, with over 200 firms active coast to coast, including many of the largest insurers in the world. More than a third of these firms have their head offices in Toronto. It contributes more than $8.2 billion in taxes to the federal, provincial and municipal governments, and has a total premium base of $50 billion, approximately half of which is derived from automobile insurance.
NEWS & EVENTSMORE NEWS
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