Best Canadian Insurance Stocks In Canada For 2024

Dividend Earner

Dividend Earner

Updated on

2 min read Affiliate Disclosure

The Canadian insurance sector has been interesting to watch during these past years with our low-interest rate climate.

Not all insurance stocks have benefited from the market growth but is it time to get back in? Some of them offer a juicy dividend to wait.

Being that many are cash cows with relatively low debt, I would consider the dividend safe and with interest rate increases coming our way, we should see some higher profits from the insurance industry in due time.

Overall, I have found the industry to be disappointing for growth but it could be a proxy to income at these levels.

Below is a list of insurance stocks for the Canadian stock market for your consideration.

Ticker Ticker Company Market Cap P/E Yield Aristocrat Graph SectorID IndustryID
MFC TSE:MFC Manulife 65.26 15.66 4.40 YES 1 7 55
IFC TSE:IFC Intact Financial 40.94 26.67 2.11 YES 1 7 56
SLF TSE:SLF Sun Life Financial 40.89 13.30 4.60 YES 1 7 54
GWO TSE:GWO Great West Life 39.90 12.88 5.19 YES 1 7 55
FFH TSE:FFH Fairfax Financial 36.23 7.42 1.32 NO 1 7 56
POW TSE:POW Power Corporation 25.56 10.03 5.72 YES 1 7 55
IAG TSE:IAG Industrial Alliance 9.06 12.77 3.56 YES 1 7 54
ELF TSE:ELF E-L Financial 3.81 3.25 1.36 NO 1 7 55
5 year Insurance Stocks May 2024
Dividend Adjusted Chart by Stock Rover - Try it out.

Best Canadian Insurance Stocks

The best investment should at least provide you with some dividend growth. If it can’t raise the dividend, it isn’t growing …

Insurance stocks are similar to Canadian bank stocks. Smaller businesses grow more than larger ones, but they also experience more price fluctuations. It’s a choice of what you need. Oftentimes, what you think you want might not be what you need. Just be diligent.

Intact is one of the best Canadian dividend stocks when you combine the dividend yield and total returns. Only National Bank performs as well making it your best combo.

TSE IFC SMALL

Intact Financial

tse:ifc | Financial Services | Insurance - Property & Casualty

TSE SLF SMALL

Sun Life Financial

tse:slf | Financial Services | Insurance - Diversified

TSE MFC SMALL

Manulife

tse:mfc | Financial Services | Insurance - Life

TSE IAG SMALL

Industrial Alliance

tse:iag | Financial Services | Insurance - Diversified

TSE GWO SMALL

Great West Life

tse:gwo | Financial Services | Insurance - Life