The Canadian life & health insurance marketplace
More than 150 life and health insurers, their
subsidiaries and affiliates operate in Canada*
By lines of business
77
life
insurance
128
health
insurance
37
retirement
solutions
Life and health insurers collected $145 billion in
premium revenues
Total premiums rose to $145 billion in 2022.** This was led by health insurance,
up 9.4 per cent; life insurance, up 5.5 per cent; followed by annuities
(including segregated funds), up 0.2 per cent.
Life
Health
Segregated
funds
Annuities
2022
43%
38%
19%
2020
42%
38%
20%
2018
41%
40%
19%
2016
42%
39%
19%
2014
43%
39%
18%
2012
41%
40%
19%
$
120B
$
$
140B
160B
$
80B
$
100B
$
60B
$
40B
$
20B
Insurers are focused on customer satisfaction
Insurers process hundreds of millions of claims annually, yet according to the
OmbudService for Life and Health Insurance only about one in every 100,000 claims
results in a complaint.
* This 150 includes the subsidiaries of the 63 CLHIA member companies mentioned on page 7.
** Including premium revenues of $3.6 billion from foreign branches operating in Canada.
Canadian Life & Health Insurance Facts // 2023 Edition
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