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  1. Insurers protect nearly 70 per cent of Canadians against health care costs. In 2021, Canada’s life and health insurers paid $30.4 billion in supplementary health care benefits. They also reimbursed claims for $8.8 billion in disability benefits. 2021 health benefits by coverage type.

  2. Canada’s life and health insurers provide financial protection for over 29 million Canadians. $97 billion in benefits In 2020, life and health insurers paid out while providing a high degree of customer satisfaction. More than 150 life and health insurers, their subsidiaries and affiliates operate in Canada*.

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  3. The Canadian Life and Health Insurance Facts, 2024 Edition presents authoritative information about the life, health and annuity business of all federally registered and provincially incorporated insurance providers in Canada.

  4. Health and auto insurance were the most common insurance policies taken out among Canadian consumers as of 2024. Although Canada has public health insurance, it does not cover all medical...

  5. The Canada life insurance market generated a revenue of USD 48,062.3 million in 2020 and is expected to reach USD 69,200.1 million by 2027. The Canada market is expected to grow at a CAGR of 5.3% from 2021 to 2027.

    • 5.3% (CAGR from 2020 to 2027)
    • USD 48,062.3 million
    • Whole life insurance
    • USD 69,200.1 million
  6. Oct 2, 2020 · The Financial Services Regulatory Authority of Ontario (FSRA), the Ontario insurance regulator, has identified two key areas of assessment of life and health insurers licensed in Ontario for 2020-2021.

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  8. Life and Health. With respect to the health and life insurance sector, FSRA’s Business Plan envisions greater market oversight to protect consumers.