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The top insurance providers in Canada are Manulife, Canada Life (subsidiary of Great-West Lifeco), Sun Life Financial, Desjardins, and IA Financial Group (aka Industrial Alliance). [ 1 ] [ 2 ] Smaller insurers include those operating as subsidiaries of banks , such as CIBC Insurance and TD Insurance.
Standard Life first established a presence in Canada through John George Irvine, who took an agency in Quebec in 1834. [2] Spencer Campbell Thomson, son of the manager of the Standard Life Assurance Company, visited Canada in 1882 and approved a new Canadian head office in St James Street.
Manulife at one point serviced over 26 million customers worldwide. [6] Manulife is the largest insurance company in Canada and the 28th largest fund manager in the world based on worldwide institutional assets under management (AUM). [7] Manulife Bank of Canada is a wholly-owned subsidiary of Manulife.
Manulife Trust is a wholly owned subsidiary of Manulife Bank. Like its parent company, Manulife Bank, Manulife Trust is a member of the Canada Deposit Insurance Corporation (CDIC). In 2015, Manulife Bank entered into a deal with Alimentation Couche-Tard to add ATM machines to 830 Mac's Convenience Stores, Circle K, and Couche-Tard locations. [6 ...
The current company is the result of the 2020 amalgamation of The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company, along with their holding companies (London Insurance Group Inc. and Canada Life Financial Corporation). [2] The company is a wholly owned subsidiary of Great-West Lifeco. [1]
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...