Using data compiled by MSA Research, the Insurance Portal presents the market shares of property and casualty insurers in Canada in 2024.

The ranking is based on total gross insurance revenue. In 2024, the approximately 183 companies in 131 insurance groups that disclosed this data to MSA reported total insurance revenue of $107.8 billion.

This represents a 10% increase over the previous year. In 2023, the same insurers reported total insurance revenues of $98.1B. 

All data is available in an Excel file for EXECUTIVE level members. 

The six largest property and casualty insurers accounted for nearly half of the industry's total revenue, with 49.3% in 2024, as shown in the table below, which lists the twenty largest companies.

The ten largest property and casualty insurers held 62.6% of the market in 2024, a similar proportion to that held in 2023.

Based on total gross insurance revenue, the following companies in the top 20 increased their market share in 2024 compared to the previous year: Lloyd's Underwriters, TD Insurance, Co-operators, Northbridge, Beneva, CAA, and Groupe Promutuel.

This article is a Magazine Supplement of the December 2025 issue of the Insurance Journal.