This June, National Post Business released its list of the top 20 Candian life insurers and mutual fund sellers of 2008. Topping the list is Great-West Lifeco Inc. with $33,932,000 in revenue, $30,007,000 in premium revenue and $1,453,000 in profits. If you want to know the secret to its success in its own words, check out LSM’s other article this week, The Strength and Stability of Great-West Lifeco.
The only place where Great-West Lifeco Inc. falls short is in the assets category. Its $130,074,000 is handily overtaken by the $187,500,992 in assets from Manulife Financial Corp. In third place, Sun Life Financial actually beats Manulife Financial Corp. in profit by $300,000 with $857,000, compared to Manulife’s $517,000. On the losing end, Transamerica Life fell to 13th place, posting only $430,344 in revenue and $428,810 in premium income. This was the industry’s largest loss of the year. Still, Blue Cross Canassurance Group did only just enough to make the list. This despite being named one of Alberta and Winnipeg’s top employers of 2008 by the Calgary Herald, Edmonton Journal and Winnipeg Free Press, respectively. Find out whether your life insurance provider made the list below: National Post Business Top Life Insurers of 2008
Revenue Premiums Profits Assets
GreatWestLifeco $33,932,000 $30,007,000 $1,453,000 $130,074,000
Manulife Financial$33,003,000 $23,252,000 $517,000 $187,500,992
Sunlife Financial $15,563,000 $13,587,000 $857,000 $119,883,000
Industrial Alliance $4,465,000 $4,282,000 $75,000 $15,415,000
Desjardins $2,891,100 $2,868,400 $34,500 $13,759,200
Standard Life $1,780,340 $1,269,323 $2,180 $16,366,753
SSQ $1,529,700 $1,411,300 $25,800 $2,307,500
RBC Life Insurance $1,285,577 $895,785 $110,078 $5,205,006
La Capitale C.S.M. $1,027,563 $1,005,795 $39,420 $3,035,869
The Cooperators $748,246 $634,335 $46,950 $2,469,031
Empire Life $688,378 $686,178 $48,370 $3,746,806
BMO Life Assurance $565,424 $251,399 $45,777 $3,101,347
Transamerica $430,344 $428,810 $583,368 $6,460,035
Forresters $377,891 $72,752 $197,126 $6,200,562
Equitable Life $300,051 $294,132 $30,508 $1,131,834
Green Shield $296,239 $297,414 $12,390 $313,926
The Cumis Group $277,631 $186,550 $17,209 $803,091
Primerica $268,100 $191,717 $63,071 $531,736
Transfers Guarantee $210,785 n.a. $41,348 $795,715
Blue Cross Canassurance $190,994 $30,295 $11,094 $312,847
