Securian Canada

What Securian Canada does

Securian Canada is the Canadian brand used by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company, both subsidiaries of the U.S.-based Securian Financial Group, Inc. Founded circa 1960 and headquartered in Toronto, the company offers a portfolio of insurance products including life insurance, accident insurance, critical illness and sickness insurance, health and dental insurance, creditor insurance, mortgage and loan protection, credit card protection, personal protection, and student health insurance. Products are underwritten by the two Canadian Premier carriers and distributed primarily through a B2B2C model, reaching consumers via partnerships with major Canadian financial institutions (BMO, Scotiabank, Rogers Bank), automotive and retail finance partners (RMA, Farm Credit Canada, Money Mart), association and affinity groups, and a digital-first partnership with PolicyMe.

The underlying technology stack includes a bilingual Creditor Insurance Digital Claims Portal that enables real-time claims status tracking and reduces manual lender workflows, and a PolicyMe-powered unified life insurance evaluation platform that applies over 1,000 reflexive underwriting rules to automatically match eligible applicants to risk-adjusted prices, with most approved without a medical exam. Securian Canada also operates official sports marketing partnerships with the Canadian Football League and the Toronto Maple Leafs, publishes annual Beyond Business inclusion reports, and has made strategic minority investments in Canadian insurtech and healthtech platforms (PolicyMe C$30M round 2023-2025; June Health CAD$2.4M pre-seed 2026).

Revenue is generated through recurring insurance premiums collected across the product portfolio, with pricing not publicly disclosed. Distribution is concentrated through enterprise channel partners rather than direct-to-consumer acquisition. Strategic activity in 2025-2026 centers on digital claims modernization and ecosystem investment in insurtech and healthtech, while core operating scale sits at 101-250 employees operating across Canada with bilingual (English/French) capabilities and Quebec-compliant service.

Name

Securian Canada

Legal name

Securian Canada is the brand name used by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company to do business in Canada

Website

https://securiancanada.ca

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

251–500 employees

Short description

Securian Canada is a Toronto-based insurance brand, underwritten by Canadian Premier Life and Canadian Premier General, offering life, creditor, critical illness, health/dental, and accident insurance distributed primarily through major Canadian financial institution partners and the PolicyMe digital platform.

Ownership category

akta.pro rank

Product category

Life and Health Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Life Insurance (6311), Accident & Health Insurance (6321), Insurance Carriers, Nec (6399)

akta.pro industry

PRIMARYFSAGAGAL

Embedded Insurance & Affinity Distribution Platforms

Financial & Insurance/Financial Technology (Fintech)/Insurtech Platforms (Digital Insurance Enablement)

SECONDARYFSAIAEAD

Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident)

Financial & Insurance/Insurance — Life & Health/Individual Health Insurance

SECONDARYFSAIAKAE

Individual/Retail Critical Illness & Hospital Indemnity

Financial & Insurance/Insurance — Life & Health/Critical Illness & Hospital Indemnity Insurance

SECONDARYHLAEABAJ

Ancillary & Supplemental Health Products (Accident/Critical Illness/Hospital Indemnity)

Healthcare & Life Sciences/Health Insurance & Managed Care/Individual & Family (ACA/Exchange) Health Insurance

Keywords

• Life insurance products
• Creditor insurance coverage
• Critical illness insurance
• Group insurance benefits
• Accident and health insurance

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premium Revenue: Collection of insurance premiums from credit card protection, creditor insurance, critical illness and sickness insurance, health and dental insurance, life insurance, mortgage and loan protection, and personal protection products. Products are underwritten by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Securian Canada underwrites and distributes a portfolio of insurance products through B2B2C partner channels across Canada. Individual and family offerings include accident insurance, creditor insurance, critical illness and sickness insurance, health and dental insurance, and life insurance. Partner-distributed protection products include credit card protection, mortgage and loan protection, personal protection, and student health insurance, delivered through financial institutions, affinity groups, and digital platforms such as PolicyMe.

Product overview

Securian Canada is a life and health insurance provider operating for over 65 years, offering a portfolio of insurance products through both direct-to-consumer channels and partner distribution networks. The product lineup includes individual/family products (Accident Insurance, Creditor Insurance, Critical Illness and Sickness Insurance, Health and Dental Insurance, and Life Insurance) and business/partner products (Credit Card Protection, Mortgage and Loan Protection, and Personal Protection). Products are distributed through financial institution partners (BMO, Scotiabank, Rogers Bank, Farm Credit Canada, Money Mart), affinity groups, and associations. The company also offers student health insurance for Canadian and international students. The architecture follows a traditional insurance model with products underwritten by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company, distributed through multiple partner channels.

Differentiator

Problem solved

Functional benefit

Products and services

• Accident Insurance Insurance coverage providing financial protection against accidental injuries, supporting medical expenses and related costs for individuals and families.
• Creditor Insurance Insurance protection for borrowers covering outstanding loan balances in case of death, disability, or job loss; offered through financial institution partners.
• Critical Illness and Sickness Insurance Coverage providing a lump sum payment upon diagnosis of specified critical illnesses or serious health conditions for individuals and families.
• Health and Dental Insurance Comprehensive health coverage including medical services and dental care benefits for individuals, families, and association/affinity group members.
• Life Insurance Traditional life insurance products providing financial protection for families and individuals, available through partnerships with PolicyMe for digital distribution.
• Credit Card Protection Protection coverage for credit card holders provided through financial institution partners including Rogers Bank and Scotiabank.
• Mortgage and Loan Protection Insurance products protecting homeowners and borrowers against outstanding loan balances, offered through partners such as BMO (Protection Plans for Mortgages and Instalment Lines of Credit).
• Personal Protection General personal insurance protection products designed for distribution through business partner channels including retailers and finance companies.
• Student Health Insurance Health insurance coverage for Canadian students and international students studying in Canada, administered through dedicated student portals.
• Creditor Insurance Digital Claims Portal Bilingual online claims platform enabling customers to submit critical illness, disability, and job loss claims with real-time status tracking; reduces manual processes for lenders and accelerates end-to-end claims turnaround times.

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and flagship.

• PolicyMecoreStrategic or Co-development PartnerStrategic partnership to develop Canada's first unified life insurance platform evaluating applicants across the full life insurance spectrum using over 1,000 reflexive underwriting rules. PolicyMe developed the platform in partnership with Securian Canada, enabling real-time matching of eligible applicants to best risk-adjusted prices.
• Leading Tier 1 Canadian Bank (Unnamed)coreImplementation/ SI/ Consulting PartnerCollaboration to launch Creditor Insurance Digital Claims Portal enabling customers to submit critical illness, disability, and job loss claims through bilingual online platform with real-time status tracking. Portal reduces manual processes and accelerates claims turnaround times.
• Canadian Football LeagueflagshipGTM or Marketing PartnerOfficial life insurance partner of the CFL. Through this partnership, making positive change in Canadians' lives through community initiatives including the CFL's Diversity in Football program.
• Toronto Maple LeafsflagshipGTM or Marketing PartnerOfficial life insurance partner of the Toronto Maple Leafs. Partnership enables community engagement through the Maple Leafs' Home Ice Hockey program.
• Canadian Premier Life Insurance CompanycoreOthersParent company that underwrites life insurance and related products under the Securian Canada brand.
• Canadian Premier General Insurance CompanycoreOthersParent company that underwrites general insurance products under the Securian Canada brand.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Canada Life (Great-West Lifeco): One of Canada's largest life and health insurers, offering individual and group life, health, creditor, and group benefits through broker and direct channels. Highly comparable to Securian Canada across life, health, and creditor insurance product lines, with broader scale and direct-to-consumer presence.
• Manulife Financial: Canada's largest life and health insurer with extensive group benefits, individual life, and creditor insurance products distributed through advisors, employer groups, and bank partners. Directly comparable product portfolio and embedded distribution model.
• Sun Life Financial: Major Canadian life and health insurer offering individual life, health, dental, critical illness, and group benefits through advisor and employer channels. Comparable product mix including supplemental health and critical illness coverage.
• IA Financial Group (Industrial Alliance): Canadian life and health insurer with strong group benefits, individual insurance, and creditor insurance franchises, including affinity and association distribution. Comparable embedded and affinity distribution model to Securian Canada.
• Co-operators: Canadian multi-line insurer offering life, health, auto, home, and creditor insurance distributed through affiliated advisors and institutional partners. Comparable embedded life and creditor product offerings, particularly through credit union channels.

Direct peers

• Blue Cross Life Insurance Company of Canada: Canadian life and health insurer focused on supplemental health, dental, and individual life products distributed through regional Blue Cross plans and affinity groups. Co-investor with Securian Canada in PolicyMe and operates a similar embedded/affinity model.
• BMO Insurance: In-house insurance arm of BMO, offering creditor, mortgage, and travel insurance through BMO's retail bank channels. A direct competitor to Securian Canada for BMO-sourced creditor volume, since Securian provides BMO's mortgage and line-of-credit protection plans.
• GreenShield Canada: Canadian health and benefits provider offering supplemental health, dental, drug, and life insurance through employer groups, associations, and individual plans. Directly comparable to Securian's health/dental and group/affinity distribution model.
• Assumption Life: Canadian mutual life insurer offering individual life, creditor, accident and sickness, and group products distributed through advisors, financial institutions, and affinity groups. Closely comparable mid-market embedded life and creditor profile.

Regional players

• Desjardins Insurance: Quebec-based cooperative insurer offering life, health, creditor, and group benefits distributed primarily through the Desjardins caisse network and Quebec affinity partners. Comparable embedded creditor and supplemental health products with strong bilingual capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@SecurianCanada
• LinkedInlinkedin.com/company/securian-canada

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about Securian Canada