| Ins. in force. | Assets. | Cap. paid-up. | |
| Montreal Companies | $1,360,720,000 | $20,213,000 | $53,363,000 |
| Toronto Companies | 717,000,000 | 5,985,000 | 15,140,000 |
| All Canada | 2,279,688,000 | 38,000,000 | 72,427,000 |
B. LIFE
The development of the life insurance business of Canada began in 1846 by the establishment in Montreal of offices by the Scottish Amicable and Scottish Provident Companies. After doing a fine business these two corporations relinquished their right to do new business in the year 1878. In the meantime, in 1847, the Standard Life Assurance Company, a Scottish institution, had entered the Canadian field, operating from a head office in this city, the Royal and Liverpool and London and Globe inaugurating life departments at the same time as they began to write fire insurance from their Montreal office in 1851. In 1857 the ranks of life companies here were augmented by the appearance on the scene of the Life Association of Scotland, though this concern has written no new business since 1878.
The period between 1860 and 1911 is punctuated at intervals with the advent of new life corporations in Canada, Montreal being selected as headquarters for most of them. In 1862 came the North British and Mercantile, and a year later the Commercial Union and London and Lancashire Life.
Eighteen sixty-five may be considered as a banner year for purely Canadian life insurance underwriting, for the Sun Life, that splendid monument to the genius of a number of Montreal men, was founded in this year. The same year witnessed the arrival of the Hartford Company of Connecticut in this city, this concern being followed the next year by the Ætna and Phœnix Mutual Life companies, and in 1868 by the Connecticut, these three last-named corporations also having their headquarters in Hartford. The Phœnix Mutual and Connecticut relinquished their licenses as far as new business was concerned in 1878.
The Equitable, having its head office in New York City, and the Union Mutual of Portland, Maine, also broke ice here in 1868, the North Western Mutual of Milwaukee coming in 1871 and deciding to do more new business in 1878. In 1887 the Germania of New York State, and the New York Life were attracted to Canada and to Montreal.
After this there was a lull in the formation of new businesses until 1907, when the Prudential Life Insurance Company of Canada was constituted, this company afterwards changing its title and selecting that of the Security Life. In 1908 the Prudential Life of the United States began to cater for Canadian business from headquarters here and in branches elsewhere.
The Phœnix, the doyen of fire insurance companies in Canada, decided to branch out into life, and launched a department to deal with this phase of underwriting in 1910. In this year the Travellers, a strong Canadian enterprise, was formed. Several others not mentioned also intervened.
Since the above there has been no retirements in life insurance, but four or five new companies have been added.
The following table indicates that Montreal holds the lead in life insurance activity in the Dominion in the same way that it does in the sister sphere of fire: