Insurance Underwriters Salary Canada

See table for salaries.

Average Insurance Underwriter’s Salary in Canada

The table below details the hourly wages for Insurance Underwriters.

The Canadian national occupation classification code (NOC) for this role is 1313.

Job titles and exact duties vary in this occupation and examples of some job titles are: insurance underwriter, wage analyst, life underwriter, insurance rating analyst and public liability underwriter.

According to the latest figures, the highest hourly average (median) wages are earned in Alberta at $33.65 per hour and the lowest average (median) wages are earned in Halifax – Nova Scotia at $20.00 per hour.

A typical full-time annual salary for this occupation is in the region of $45,000 – $65,000.

Government data indicates that there will be enough job seekers for this profession for the near future.

Average Hourly (Median) Wages for Insurance Underwriters in Canada

Location Low Wage
$ per hr
Average Wage
$ per hr
High Wage
$ per hr
Year
Calgary – Alberta*(1) 33.65 2019
Edmonton – Alberta*(1) 33.65 2019
Vancouver Island & Coast – British Columbia 18.51 32.82 43.27 2018
Winnipeg – Manitoba 20.46 30.00 37.95 2018
Fredericton / Oromocto – New Brunswick(1) 18.00 23.56 36.62 2018
Halifax – Nova Scotia 15.66 20.00 35.00 2018
Toronto – Ontario 21.43 31.79 45.58 2018
Kitchener / Waterloo / Barrie – Ontario 19.56 28.85 46.58 2018
Ottawa – Ontario 20.19 31.47 45.58 2018
Hamilton / Niagara Peninsula – Ontario 20.19 31.47 45.58 2018
Prince Edward Island 12.64 24.10 28.28 2018
Montreal – Quebec 17.95 25.00 40.00 2018
Saskatoon / Biggar – Saskatchewan(1) 15.00 27.69 40.00 2018

Methodology

Examples of duties include the following:
›› Providing underwriting advice and answering inquiries from clients
›› Studying various insurance proposals
›› Writing insurance policies
›› Evaluating applications to determine insurance risks and insurance premiums
Comparison with employment group

The 2020 full-time average hourly wage rate for finance, insurance and related business administrative occupations, which includes insurance underwriters, is $29.57. The 2020 corresponding median weekly wage rate is $1,021, giving an approximate full-time annual salary for this employment group of $53,000.

These occupations may also be of interest:

Financial and Investment Analysts
Insurance Agents and Brokers
Insurance Adjusters and Claims Examiners
Shippers and Receivers
Securities Agents, Investment Dealers and Brokers

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