What ICPEI does

The Insurance Company of Prince Edward Island (ICPEI) is a Canadian property and casualty insurer founded in 1987 and headquartered in Charlottetown, Prince Edward Island. The company underwrites personal lines (automobile, property/homeowners, condominium, tenant, and umbrella liability), commercial lines (commercial automobile, commercial property, general liability, business interruption, boiler & machinery, and data compromise coverage, offered individually or bundled as Commercial Pak and Value Pak packages), and surety bonds (bid, performance, labour and material payment, lien, subdivision, and maintenance bonds) for contractors. It positions itself as the largest auto and home insurer headquartered in the Maritimes and operates regional offices in Mississauga, Ontario and Lévis, Quebec in addition to its PEI head office.

ICPEI's business model is premium-based insurance revenue collected from policyholders, with pricing tailored to individual risk assessment (premiums are not publicly disclosed; policyholders choose deductibles and payment plans). The company distributes exclusively through a network of independent insurance brokers across Canada rather than selling direct to consumers, supported by a dedicated broker portal, Broker Central, for policy management and transactions, plus a PayPal-based online payment system and regional claims operations covering the Maritimes, Ontario, Quebec, and Western regions. Discounts are offered for bundling home and auto, newer homes, monitored alarm systems, and claim-free history.

The company's underlying technology is a standard insurance services platform with no disclosed proprietary features, API, or mobile app. In March 2024, ICPEI became a brokerage subsidiary and property of Desjardins General Insurance Group (DGIG), one of Canada's largest insurance organizations, providing capital backing and financial stability. ICPEI is a member of the Property & Casualty Insurance Compensation Corporation, the Facility Association of Canada, and the Insurance Bureau of Canada, and maintains privacy compliance across PIPEDA and provincial privacy regimes.

Name

ICPEI

Legal name

The Insurance Company of Prince Edward Island

Website

https://icpei.ca

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

51–100 employees

Short description

ICPEI (The Insurance Company of Prince Edward Island) is a Canadian property and casualty insurer offering personal, commercial, umbrella, and surety insurance sold exclusively through independent brokers across Canada, serving individuals and small-to-medium businesses.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331), Surety Insurance (6351)

akta.pro primary industry

Commercial General Liability (CGL) (FSAJADAA)

akta.pro secondary industries

Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Personal Excess Liability (High-Net-Worth) (FSAJANAF), Construction Specialty (Wrap-Ups/Builders Risk/Contractors) (FSAJAGAH)

Keywords

• Personal insurance products
• Commercial insurance coverage
• Surety bond services
• Broker distribution insurance
• Property casualty insurance

Headquarters

HQ city

Charlottetown

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: ICPEI generates revenue through insurance premiums collected from policyholders. The company offers personal insurance (automobile, property, umbrella), commercial insurance (business property, liability, interruption, boiler & machinery, data compromise), and surety bonds. Premiums are collected through broker channels with various payment options including PayPal online payments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

ICPEI underwrites and distributes personal insurance (automobile, homeowners/condominium/tenant property, and personal umbrella liability up to $5 million), commercial insurance (commercial automobile, commercial property, commercial general liability, business interruption, boiler & machinery, and data compromise coverage) and contract/commercial surety bonds for Canadian contractors. Products are sold exclusively through a network of independent insurance brokers across Canada, with regional claims operations supporting brokers in the Maritimes, Ontario, Quebec, and Western Canada.

Product overview

ICPEI (Insurance Company of Prince Edward Island) is a personal and business insurance provider headquartered in Charlottetown, PEI, operating as a subsidiary of Desjardins General Insurance Group since March 2024. The company offers a comprehensive insurance portfolio through a network of broker partners across Canada. Personal insurance products include Automobile, Property (Homeowners, Condominium, Tenants), and Umbrella Liability coverage with various add-on options. Business insurance offerings encompass Commercial Automobile, Commercial Property, Commercial General Liability, Business Interruption, Boiler & Machinery, and Data Compromise coverage, available as individual coverages or bundled in Commercial Pak packaged policies. The company has also recently expanded into Surety bonds, offering Bid Bonds, Performance Bonds, Labour and Material Payment Bonds, Lien Bonds, Subdivision Bonds, and Maintenance Bonds. Products are sold exclusively through insurance brokers with service delivery supported by an online Broker Central portal.

Differentiator

Problem solved

Functional benefit

Brands

• Commercial Pak: Packaged commercial insurance policies for small- to mid-sized businesses
• Value Pak

Products and services

• Automobile Insurance Personal auto insurance providing collision, comprehensive, specific peril (fire, theft, riot, windstorm, hail), rental expense, and limited depreciation coverage; liability can be raised from the mandatory minimum up to $2 million. Sold exclusively to Canadian drivers through independent brokers.
• Property Insurance Property insurance covering homeowners, condominium unit owners, and tenants, protecting the dwelling or unit, outbuildings, contents, and personal liability against fire, burglary, theft, vandalism and related perils. Sold through Canadian brokers.
• Umbrella Liability Insurance Personal umbrella liability policy providing up to $5 million of additional coverage above home or auto policy limits for bodily injury, property damage, personal injury (libel, slander, invasion of privacy) and worldwide auto liability. Designed for property owners with pools, trampolines, recreational vehicles, watercraft, or higher-risk lifestyles; sold through brokers in NB, NS, PEI, and QC.
• Commercial Automobile Insurance Coverage for business vehicles and trailers, including loss-of-use and guaranteed replacement cost options for vans and pick-up trucks; Commercial General Liability is not required to purchase. Sold to Canadian businesses through brokers.
• Commercial Property Insurance Protection for commercial buildings, contents, and operations against physical loss or damage from common business perils. Sold to Canadian businesses through brokers.
• Commercial General Liability Insurance Liability protection for businesses against lawsuits for bodily injury, property damage (including product damage), personal injury, and advertising injury when the business is found legally liable. Sold to Canadian businesses through brokers.
• Business Interruption Insurance Coverage for loss of income and continuing employee wages when an insured peril (such as fire or extensive water damage) suspends normal business operations. Sold to Canadian businesses through brokers.
• Boiler & Machinery Insurance Coverage for losses caused by breakdown or failure of equipment such as cracked boilers, failed motors, food spoilage from freezer malfunction, and computer failures leading to lost production. Three coverage levels available; sold to Canadian businesses through brokers.
• Data Compromise Coverage Coverage helping Canadian businesses pay expenses they may be responsible for in the event of a privacy breach or data compromise, protecting the business and its reputation. Sold through brokers.
• Commercial Pak (Packaged Policies) Package policies combining commercial property, liability, automobile, business interruption, boiler & machinery, and data compromise coverages for small- to mid-sized businesses, contractors, and local shop owners at a competitive bundled price. Sold through brokers.
• Bid Bonds Surety bond guaranteeing that a contractor will honor the terms of a bid if selected for a construction project. Issued to Canadian contractors through brokers.
• Performance Bonds Surety bond guaranteeing that a contractor will complete a project in accordance with the contract terms and specifications. Issued to Canadian contractors through brokers.
• Labour and Material Payment Bonds Surety bond ensuring that subcontractors, suppliers, and workers are paid for labor and materials supplied to a construction project. Issued to Canadian contractors through brokers.
• Lien Bonds Surety bond protecting property owners from mechanic's liens that may be filed by subcontractors or suppliers who have not been paid on a construction project. Issued through brokers.
• Subdivision Bonds Surety bond guaranteeing that a developer will complete required public improvements (such as roads, sewers, and utilities) in a subdivision development. Issued through brokers.
• Maintenance Bonds Surety bond guaranteeing that a contractor will maintain and repair any defects in materials or workmanship for a specified warranty period after project completion. Issued through brokers.

Quantifiable outcome

• Over 20 years of experience in the Canadian insurance market
• +4 more outcomes

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Market position

Weaknesses1 record

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/the-insurance-company-of-prince-edward-island

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about ICPEI