As of Q2 2024, Canada’s Property and Casualty (P&C) insurance industry achieved substantial revenue growth, reaching a year-to-date total of $42.2 billion. Domestic insurers led with $32.5 billion, while foreign entities contributed $9.7 billion. Intact Financial Corporation emerged as the top revenue earner with $5.98 billion, capturing a significant 14.2% market share. Following closely, Lloyd’s reported $3.18 billion in revenues, and Aviva rounded out the top three with $3.09 billion, underscoring their strong market presence.

Other major players, including Co-operators, Definity, and Security National, also posted notable revenues, reflecting the competitive and dynamic landscape of Canada’s insurance sector. As companies navigate shifting economic conditions, these revenue figures offer insights into market positioning and potential growth trajectories.

For a deeper look into profitability rankings, see our Top 10 Profit Leaders article. Together, these insights reveal how Canada’s top insurers are managing growth and preparing for future challenges within the P&C market.

These mid-year figures highlight the competitive dynamics within the industry, providing insights into which players are consolidating their market positions and which may face pressure to innovate or expand. As the industry navigates shifting economic conditions and evolving consumer expectations, the strategies adopted by these key players will shape the outlook for the remainder of 2024.