Underwriter 2 salary in Canada

Average Yearly Salary of Underwriter 2 in Canada is approximately 57,500 CAD (57,364 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Underwriter 2 do?

An underwriter is a professional who assesses and evaluates risks associated with insurance policies or financial transactions. Underwriter 2 is a more experienced role within the field, typically responsible for reviewing and approving complex applications, negotiating terms and conditions, and ensuring compliance with company policies and regulations. They analyze data, such as financial statements and credit reports, to determine the level of risk involved in insuring an individual or organization. Underwriter 2s also collaborate with brokers and agents to gather additional information and provide guidance on suitable coverage options. Strong analytical skills, attention to detail, and the ability to make sound decisions are essential for this occupation. Effective communication and negotiation skills are also important when dealing with clients and stakeholders.

Skills: underwriter, risk assessment, insurance policies, financial transactions, compliance, analytical skills
Job industry: Insurance

How much does Underwriter 2 make?

Difference in salary year over year or average salary increase is approximately 4 %


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Salary comparison to National average

Is Underwriter 2 a well paid job?

No / we do not have enough data to assess this.

What is considered a high salary for Underwriter 2?

High salary for Underwriter 2 would be somewhere between 63,250 CAD and 83,375 CAD. However this is an estimation based on Gaussian Distribution.

How much can you save working as Underwriter 2 in Canada?

Living in Canada the approximate monthly expenses are: 2,118 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 57,500 CAD
Estimated Monthly Salary: 4,792 CAD
Estimated Weekly Salary: 1,106 CAD per week
Estimated Hourly Salary: 28 CAD per hour
By working as Underwriter 2 a person can save up to 2,662 USD per month or 31,943 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Canada, see costs of living in Canada.

Salary comparison to region and neighbouring coutries

Country's neighbours are: United States of America.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Underwriter 2

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Canada

Data as of 2025

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