Canada's life and health insurers contribute billions to help build the economy while supporting Canadians with $157 billion in life, health and retirement benefits

New report highlights insurers' long-term investments, economic contributions and how benefits support Canadians' health and financial security.

TORONTO, Oct. 20, 2026 /CNW/ -- Canada's life and health insurers are among the country's largest investors in long-term assets, contributing significantly to the economy while supporting the health and financial security of millions of Canadians, according to the latest edition of Canadian Life and Health Insurance Facts released today by the Canadian Life and Health Insurance Association (CLHIA).

In 2025, Canada's life and health insurers held nearly $1.3 trillion in assets in Canada and an additional $1.6 trillion globally, making the industry a major source of capital for long-term investment and economic growth.

The industry held $108 billion in provincial, territorial and municipal government bonds, $25 billion in federal government bonds, and $51 billion in Canadian infrastructure, supporting transportation, energy and communications projects across the country.

"As Canada's need for investment continues to grow, the industry remains well positioned to provide the long-term capital needed to support that growth," said Stephen Frank, President and CEO of CLHIA.

Beyond their economic contributions, life and health insurers supported Canadians with $157 billion in life, health and retirement benefits in 2025.  This is a 10 per cent increase from the previous year and the equivalent of more than $430 million every day.

Prescription drug coverage remained the largest component of health benefits, with insurers providing more than $18 billion in drug coverage, up 44 per cent over five years, helping Canadians access the medications they need and stay on treatment.

"Most Canadians don't think of health benefits as part of the healthcare system," said Frank. "But when 27 million Canadians use their benefits for everyday care--from prescriptions and mental health support to physiotherapy and disability coverage--they get care earlier, achieve better health outcomes and help ease pressure on the system."

Additional findings from the report show that, in 2025, insurers:

• Managed private pension assets valued at over $470 billion.
• Paid out $18.3 billion in life insurance benefits.
• Contributed $12.7 billion in federal and provincial taxes.
• Provided Canadians with nearly $1.1 billion in mental health support, up 160 per cent over the past five years.

The complete report is available at clhia.ca/facts.

About the CLHIA 

The CLHIA is a voluntary association whose member companies account for 99 per cent of Canada's life and health insurance business. These insurers provide a wide range of financial security products including life insurance, annuities (including TFSAs, RRSPs, RRIFs and pensions) and supplementary health insurance to nearly 30 million Canadians. They hold nearly $1.3 trillion in assets in Canada and employ over 180,000 Canadians. 

SOURCE Canadian Life and Health Insurance Association Inc.

Tom Hansen, Senior Manager, Communications and Public Affairs, Canadian Life and Health Insurance Association (CLHIA), [email protected]