Which P&C insurers expanded their market share in Canada in 2020? Which firms lost ground?

The Insurance Portal analyzed data from MSA  Research to compile P&C insurers’ market shares in 2020.

We present 2019 figures for comparison purposes.

Industry total based on 159 companies (2019) and 158 companies (2020). Companies are ranked in descending order by the 2020 premium volume. The "Premium Growth" column shows growth in premium volume from 2019 to 2020.

Intact Financial Corporation completed the acquisition of The Guarantee on December 2, 2019. The Belair results include those of Nordic Insurance. Although Belair and Nordic Insurance are two legal distinct entities, their operations are fully integrated Missisquoi, Perth and Waterloo show a negative 2020 premium. Therefore, we indicated a market share of 0% for these three companies. Beneva: On July 3, 2020, La Capitale et SSQ Assurance announced that their merger of equals was official. The new company adopted the name Beneva in December 2020. The premiums presented are combined results: They represent the addition of the results of La Capitale and SSQ and they are not consolidated results. The premiums of Saskatchewan Auto Fund are not included in those of SGI Group, because although SGI manages the funds, it does not include the results of Saskatchewan Auto Fund in its consolidated financial results.

(+ SIGN) Written premiums of some subsidiaries are included in the written premiums of the parent company. If applicable, premiums of these subsidiaries are presented in blue. Allstate Canada: includes Esurance of Canada, Pafco and Pembridge. Co-operators, General Insurance: includes Coseco, CUMIS General Insurance and The Sovereign. Economical Mutual: includes Petline Insurance Company, Sonnet Insurance Company, Missisquoi Insurance Company, Perth and Waterloo. Industrial Alliance, Auto and Home Insurance: includes Prysm General Insurance. Intact Assurance: includes The Guarantee (2020 only). Northbridge Insurance: includes Verassure and Zenith. Security National: includes TD Home and Auto, Primmum and TD General Insurance. SGI Canada: includes SGI Canada Insurance Services. SGI Canada Insurance Services: includes Coachman.

 

 

This article is a Magazine Supplement for the October issue of the Insurance Journal.