Canadian Life & Health Insurance Facts // 2024 Edition 3
In 2023, Canada's life
and health insurers...
Provided coverage for nearly 30 million
– or 75% of Canadians
Paid out a record $128 billion in total
claims – up 13% from 2022
Paid a record $36.6 billion in claims for
health, drugs and dental care – up 13%
from last year
Employed nearly 180,000 Canadians –
up more than 3,000
Paid $6.4 billion in taxes, up a third,
driven by an 80% increase in corporate
and capital taxes
Provided insurance products to
nearly 120 million people worldwide
