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Within 3 years, extra branches were opened in Toronto and Montreal, as well as in the smaller centres of Perth and Windsor in Ontario. By the early 1960s, Maritime Life was one of the fastest growing insurance coverage companies in Canada and it obtained The Royal Guardians insurance company of Montreal in 1961.

8 million. In 1969, the John Hancock Mutual Life Insurance Coverage Company of Boston, Massachusetts acquired Maritime Life, making the company its main Canadian subsidiary. That very same year, Maritime Life won a significant contract, offering insurance services for workers of the Canadian Forces. In 1973, the business moved into an unique brand-new headquarters in Halifax's Armdale neighbourhood.

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By 1982, the company had approximately $1 billion in properties and in 1986, it ranked 17th out of 150 insurance provider in Canada. By 1993, it had $3. 2 billion in assets, with that figure growing to $4. 3 billion within 2 years. In 1995, Maritime Life acquired Confederation Life.

5 billion in assets. In 1999, the company doubled in size, with the purchase of Aetna Life Insurance Coverage Company. In 2001, Maritime Life purchased Royal & Sun, Alliance Life Insurance Coverage Company, with overall properties for the company approaching $13. 5 billion and earnings exceeding $100 million. In 2003 it obtained the insurance coverage organization of Liberty Health and in 2004, for the fifth successive year, it was acknowledged as one of "The 50 Finest Employers in Canada" as ranked by's Report on Service. On This Article Is More In-Depth , 2003, Manulife revealed its intent to acquire John Hancock Financial, including Maritime Life, for $15 billion.

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Throughout the world, insurance provider recently have actually combined with brokerage companies, banks, and other financial organizations to offer their consumers a broader series of services. That is certainly the case for the Canadian insurance coverage industry, which has experienced a number of acquisitions and mergers in recent years. Below are the 5 biggest Canadian insurer defined by their annual earnings in 2019.