Approximately 400 million Canadian dollars separated the largest and second-largest Canadian insurers in 2023 based on insurance revenue. In that year, Fairfax Financial was the largest insurance company in terms of revenue from insurance services and generated 6.75 billion Canadian dollars in net insurance revenue. Desjardins Group followed behind with 6.34 billion Canadian dollars in net insurance revenue. However, yet another competitor of Fairfax Financial was the biggest Canadian insurer by total assets in the same year.
Largest insurance companies in Canada in 2023, by net insurance revenue
Figures show the net insurance result, which is insurance revenue minus insurance service expenses and net expenses from reinsurance contracts
Supplementary notes
*Figures published by the company were converted from U.S. dollars to Canadian dollars on September 4, 2024 using an online currency exchange conversion tool.
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Statista. (September 3, 2024). Largest insurance companies in Canada in 2023, by net insurance revenue [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1490473/leading-canadian-insurers-by-revenue/
Statista. "Largest insurance companies in Canada in 2023, by net insurance revenue." Chart. September 3, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1490473/leading-canadian-insurers-by-revenue/
Statista. (2024). Largest insurance companies in Canada in 2023, by net insurance revenue. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1490473/leading-canadian-insurers-by-revenue/
Statista. "Largest Insurance Companies in Canada in 2023, by Net Insurance Revenue." Statista, Statista Inc., 3 Sep 2024, https://www.statista.com/statistics/1490473/leading-canadian-insurers-by-revenue/
Statista, Largest insurance companies in Canada in 2023, by net insurance revenue Statista, https://www.statista.com/statistics/1490473/leading-canadian-insurers-by-revenue/ (last visited November 21, 2024)
Largest insurance companies in Canada in 2023, by net insurance revenue [Graph], Statista, September 3, 2024. [Online]. Available: https://www.statista.com/statistics/1490473/leading-canadian-insurers-by-revenue/
