privateFinancial Strength: Parent Great-West Lifeco revenue CA$60.6B (2020)Online Signup

Canada Life

Canada Life / Canada Vie

76.5Score

★★★☆☆3.8

Customer satisfaction · 13.0M members

J.D. Power: Mid-Tier Group Benefits(2025)Canada's Top 100 Employers(2025)

Canada Life is the largest insurance company in Canada by premium volume, formed from the 2020 amalgamation of Great-West Life (1891), London Life (1874), and Canada Life (1847). With approximately 13 million Canadians covered and 13,000 employees, it is part of the Power Corporation/IGM Financial ecosystem.

Overall Score

76.5/100

Founded

1847

Headquarters

Winnipeg, Manitoba / Toronto, Ontario

Type

private

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Key Metrics

Market Position

Largest by premium volume

Parent Revenue

CA$60.6B (Great-West Lifeco, 2020)

Employees

~13,000 in Canada

Heritage

Amalgamation of 3 historic insurers (1847, 1874, 1891)

Editorial Ratings

J.D. Power: Mid-Tier Group Benefits(2025)

Rating: Mid-tier in Group Benefits Satisfaction Study (max: 1st Place (1000 pts))

73J.D.

Canada's Top 100 Employers(2025)

Rating: Canada's Top 100 Employers (multiple years) (max: Top Award)

80Benefits

Coverage Highlights

✓Largest insurance company in Canada by premium volume
✓Amalgamation of Great-West Life, London Life, and Canada Life
✓Full spectrum of group and individual health benefits
✓175+ year history (oldest insurer in Canada)
✓Strong financial backing from Power Corporation group

Pros

✓Largest scale and market penetration in Canada
✓Full spectrum of group and individual health benefits
✓175+ year history (oldest insurer)
✓Strong financial backing from Power Corporation group

Cons

✗Consolidation of 3 brands caused customer confusion
✗Large bureaucratic organization
✗Customer service complaints during post-merger integration

Frequently Asked Questions

Is Canada Life the largest insurer in Canada?

Yes. Canada Life is the largest insurance company in Canada by premium volume, covering approximately 13 million Canadians across group and individual health benefits.

What happened to Great-West Life and London Life?

In 2020, Great-West Life (est. 1891), London Life (est. 1874), and Canada Life (est. 1847) were amalgamated under the Canada Life brand, combining three historic insurers into one entity.

Does Canada Life offer individual health insurance?

Yes. Canada Life offers both group benefits plans (through employers) and individual health insurance covering prescription drugs, dental, vision, and extended health benefits.

Who owns Canada Life?

Canada Life is a subsidiary of Great-West Lifeco, which is part of the Power Corporation of Canada / IGM Financial ecosystem.

Quick Summary

InsurerCanada Life

Country🇨🇦 Canada

Overall Score76.5/100

Satisfaction3.8/5

Members13.0M

Typeprivate

Founded1847

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