It’s not a surprise to see the big banks on this list, but this represents a particular contradiction for Sun Life and Manulife, whose core business centres on the health of their clients.Īs the climate crisis accelerates, more attention has been focused on the role of the property and casualty insurance industry on the front lines of impacts such as floods, fires and storms. The top five for Canada are Sun Life, RBC, Power Corporation, Manulife and TD, each with billions invested. The German NGO Urgewald just published a global database of fossil fuel investors, companies that own the most stocks and bonds in oil and gas and coal companies. They are also two of Canada’s largest investors in fossil fuels, including dirty coal, investments that adversely affect the health of the clients they’re insuring. Yet both have a contradiction at the heart of their business model. ![]() ![]() ![]() Now expanding into Asia, these are Canadian success stories. Canada is home to two of the largest life and health insurance companies in the world – Sun Life and Manulife.
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