Canadian Life & Health Insurance Facts // 2025 Edition 10
The Canadian Life & Health Insurance Marketplace
I N D U S T R Y P R O F I L E
Life and health insurers collected $168 billion in premiums
Total premiums and annuity contributions increased $11 billion to $168 billion in 2024.*
This was led by annuities (including segregated funds)**, up 17.7 per cent; health
insurance, up 8.4 per cent; followed by life insurance, up 3.2 per cent.
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.
* Includes premiums of $3.9 billion from foreign branches operating in Canada.
** Based on revised annuity contributions for 2023
$
180B
$
160B
$
140B
$
120B
$
100B
$
80B
$
60B
$
40B
$
20B
43%
39%
18%
2014
41%
40%
19%
2016
43%
39%
18%
2018
39%
42%
19%
2020
39%
43%
18%
2024
38%
43%
19%
2022
Life Health Annuities
