The Insurance Portal has gathered data from MSA Research regarding the market shares of property and casualty (P&C) insurers in Canada in 2022.
In the country, the top three P&C insurers (Intact Financial Corporation, Aviva, and Desjardins) account for 31.6% of the market, which exceeded 85 billions dollars in premiums in 2022.
When including premiums from Lloyd's Underwriters, the top 4 in the ranking represented 38.2% of the Canadian market. To exceed half of the market shares, you need to combine the premiums from the seven largest insurers.
The most significant shift within the top 10 insurers was made by Aviva, which climbed to the second position. It's also worth noting that TD Insurance moved up to the fifth spot.
This article is a Magazine Supplement for the November issue of the Insurance Journal.
