Co-operators

What Co-operators does

Co-operators (legal name The Co-operators Group Limited) is a Canadian member-owned financial services co-operative established in 1945 and headquartered in Guelph, Ontario, operating exclusively within Canada. It provides a diversified portfolio of insurance and financial products across personal lines (home, auto, recreational vehicle, life, travel), business lines (property, liability, equipment breakdown, business interruption, cyber, crime, commercial auto), farm lines (property, machinery, livestock, pollution, succession), and group/organizational lines (group home and auto at preferred rates, group benefits, group retirement and savings). The company manages over $79 billion in assets under administration and reports 2025 net insurance revenue of $5.47 billion CAD on $5.99 billion CAD of direct written premium, serving individuals, businesses, farms, and member organizations through co-operatives, non-profits, and employer-sponsored plans.

The technology backbone consists of a full Guidewire InsuranceSuite deployment on the Guidewire Cloud Platform (PolicyCenter, BillingCenter, and ClaimCenter), with the multi-year migration completed in 2025 and extended to subsidiary Sovereign Insurance. In February 2026, Co-operators added a Sapiens software layer (ApplicationPro, IllustrationPro, DataSuite) to modernize life insurance advisor operations by consolidating illustration, application, and analytics in a single workflow. Distribution runs across four channels — direct digital and phone sales, employer/group enrollment for member organizations, a financial representative advisor network, and self-service portals (Online Services, BenefitsNow, BASiS, mutual funds dashboard) — with a hybrid segmentation approach spanning consumer, SMB, mid-market, and enterprise buyers.

Co-operators earns revenue primarily through recurring insurance premiums and group benefits administration fees, supplemented by investment management fees on assets under administration. Ownership is member-based rather than corporate-shareholder-based, with a hybrid capital structure that includes publicly traded non-cumulative Class E Series C preference shares (paying a $0.3125 quarterly dividend declared February 2026). 2025 profitability improved sharply — net income of $671.2 million more than doubled the prior year, combined ratio improved 8.1 percentage points to 94.1%, and the underwriting result flipped from a $106.9 million loss in 2024 to a $326.5 million profit. The organization is carbon-neutral and committed to net-zero by 2040, and in 2026 was recognized as both a Top 100 Employer in Canada and one of Canada's Best Diversity Employers.

Name

Co-operators

Legal name

The Co-operators Group Limited

Website

https://cooperatorsgroupinsurance.ca

Company type

Private

Founded year

1945

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Co-operators is a Canadian member-owned financial services co-operative providing property and casualty insurance, life insurance, group benefits, group retirement, and investment management to individuals, businesses, farms, and organizations across Canada.

Ownership category

akta.pro rank

Headquarters

HQ city

Regina

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Property and Casualty Insurance: Core P&C insurance operations generating $5.99 billion in direct written premium and $5.47 billion in net insurance revenue for 2025. Includes home, auto, recreational vehicle, and commercial insurance across all Canadian regions.
2. Life Insurance: Life insurance products distributed through advisor network, modernized with Sapiens technology platform to improve customer acquisition and advisor efficiency.
3. Group Benefits: Group benefits including health and dental coverage, administered through employer/organization plans with plan member and sponsor portals.
4. Group Retirement and Savings: Group retirement and savings products including registered retirement savings plans, pension solutions, and investment management for organizational plan members.
5. Investment Management: Investment services and mutual funds managing assets under administration of over $79 billion.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Co-operators is a Canadian financial services co-operative providing property and casualty insurance (home, auto, recreational vehicle, travel), life insurance, group benefits (health, dental), group retirement and savings products, business and farm insurance, and investment/mutual fund services. It distributes these offerings through direct online/phone sales, a network of financial representatives/advisors, employer group enrollment programs, and self-service digital portals.

Product overview

Co-operators is a Canadian financial services cooperative offering a diversified portfolio of insurance and financial products across personal, business, farm, and group segments. Its core personal insurance lineup includes home, auto, recreational vehicle, life, and travel insurance, all accessible through a digital self-service Online Services portal and a dedicated mobile app. For group/organizational clients, the company delivers employer-sponsored group home and auto programs, group benefits (health, dental, vision) with retiree continuation via ContinYou GOLDEN, and group retirement and savings plans accessible through the BASiS portal and a Mutual Funds Dashboard. Business coverage spans property, liability, equipment breakdown, loss of income, cyber security, and crime insurance across multiple industries. Specialized farm insurance covers property, machinery, produce, livestock, pollution, and succession planning. All offerings are delivered through a network of advisors and digital platforms, reflecting a multi-channel distribution model.

Differentiator

Problem solved

Functional benefit

Brands

• ContinYou® GOLDEN: Retiree health and dental coverage program for plan members after group plan has ended
• Benefits Now®

Products and services

• Personal Home Insurance Home insurance coverage for homeowners and renters protecting property and belongings against specified risks.
• Personal Auto Insurance Vehicle insurance coverage for personal automobiles and recreational vehicles, including claims submission and repair appointment booking.
• Recreational Vehicle Insurance Insurance coverage tailored for recreational vehicles, boats, and related assets.
• Life Insurance Personal life insurance products for individual policyholders distributed through financial representatives.
• Travel Insurance Travel insurance coverage for individuals, protecting against trip cancellations, medical emergencies, and travel-related losses.
• Group Home and Auto Insurance Preferred-rate home and auto insurance programs offered through employer or organization group plans to members.
• Group Benefits Employer-sponsored group benefit programs including health, dental, and vision coverage for plan members, with retiree continuation options via ContinYou GOLDEN.
• Group Retirement and Savings Group retirement planning and savings programs for employers, including investment options and performance tracking via the BASiS portal.
• Business Property Insurance Commercial property coverage for business assets including buildings, equipment, and inventory against covered perils.
• Liability Insurance Commercial general liability coverage protecting businesses against third-party claims for bodily injury, property damage, and personal injury.
• Equipment Breakdown Insurance Coverage for sudden and accidental breakdown of critical business equipment and machinery.
• Loss of Income Insurance Business interruption coverage compensating for lost revenue and operating expenses following a covered loss.
• Cyber Security Insurance Coverage protecting businesses against cyber incidents, data breaches, and associated liability and recovery costs.
• Crime Insurance Commercial crime coverage for employee dishonesty, theft, and fraud losses.
• Business Auto Insurance Commercial vehicle insurance for business-owned cars, trucks, and fleets.
• Group Payment Protection Credit protection products offered through employer groups to cover outstanding loan balances in cases of disability, job loss, or death.
• Farm Insurance Specialized insurance programs for farms including coverage for property, machinery, produce, livestock, pollution liability, and succession planning.
• Mutual Funds and Investment Management Investment services and mutual funds managing over $79 billion in assets under administration for individual and group investors.

Quantifiable outcome

• Underwriting result improved from loss of $106.9 million in 2024 to profit of $326.5 million in 2025
• +4 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Sapiens International CorporationcoreTechnology or Integration · 18 February 2026Co-operators signed agreement to implement Sapiens ApplicationPro, IllustrationPro, and DataSuite for their life insurance operations. The partnership aims to modernize Co-operators' advisor ecosystem by integrating illustration and application capabilities into a single platform, eliminating redundant data entry and providing enhanced analytics and performance insights for agents and MGAs.
• GuidewirecoreTechnology or IntegrationCo-operators completed migration to Guidewire Cloud Platform, implementing ClaimCenter alongside previously migrated PolicyCenter and BillingCenter systems to achieve full InsuranceSuite deployment. The multi-year cloud transformation extended to subsidiary Sovereign Insurance and was completed on time with minimal disruption.

Scale indicators10 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Intact Financial Corporation: Intact is the largest Canadian property & casualty insurer with national reach across personal and commercial lines, directly competing with Co-operators in home, auto, and business insurance. Both companies also share a multi-line Canadian-only distribution model with broker and direct channels and similar combined-ratio improvement trajectories.
• Desjardins Group: Desjardins is Canada's largest cooperative financial services group, offering P&C insurance, life insurance, group benefits, and wealth management across Canada. The cooperative ownership structure and diversified financial services portfolio make it the closest analog to Co-operators' business model.
• Wawanesa Mutual Insurance: Wawanesa is a Canadian mutual (member-owned) insurer with a multi-line P&C book concentrated in home, auto, and farm. Its mutual cooperative structure and Canadian-only footprint make it one of the closest direct peers to Co-operators' personal lines and farm insurance operations.
• Aviva Canada: Aviva Canada is one of Canada's largest P&C insurers offering home, auto, and business insurance through broker and direct channels. It competes directly with Co-operators in personal and commercial lines across all Canadian provinces.
• Definity Financial Corporation: Definity (formerly Economical Insurance, including Sonnet) is a Canadian P&C insurer offering personal and commercial lines through both broker and direct-to-consumer channels. It competes with Co-operators across home, auto, and small commercial insurance.
• iA Financial Group: iA Financial Group is a major Canadian insurance and wealth management company offering life, health, group benefits, and retirement products. Its multi-line financial services portfolio and Canadian-only operation make it comparable to Co-operators' life, group benefits, and investment management lines.
• Beneva: Beneva is a Quebec-based insurance cooperative formed from the merger of La Capitale and SSQ Insurance, offering P&C, life, and group benefits. Its cooperative ownership and regional Canadian focus make it a structural analog to Co-operators' mutual/cooperative model.

Broad incumbents

• Sun Life Financial: Sun Life is one of Canada's largest life insurers and asset managers with significant group benefits and retirement operations in Canada. While much larger and globally diversified, it overlaps materially with Co-operators' life insurance, group retirement, and investment management lines.
• Manulife Financial: Manulife is a leading Canadian-domiciled insurance and wealth management giant with global operations. It competes with Co-operators in group benefits and individual life insurance, though at far greater scale and with broader geographic reach.

Emerging players

• GreenShield Canada: GreenShield is a Canadian health and benefits organization offering group health, dental, and increasingly insurance and mental health services. It overlaps with Co-operators' group benefits segment (health and dental coverage) and represents an emerging competitive force in Canadian employer-sponsored benefits.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Co-operators