1. Federal Canadian Life Insurance Companies
The Financial Services Consumer Alliance (FSCA) is proud to provide to the financial DIYer, all of the necessary information needed to select the right insurance company.
There are two main vehicles for establishing an insurance business in Canada federally: incorporation of a Canadian insurance company and qualification of a Canadian branch of a foreign insurance company. Insurers may also carry on business in Canada in other forms, such as a fraternal benefit society or a reciprocal exchange, and may be incorporated under the laws of a province.
| Insurer | Address | Description | AM Best | History | Distribution | Consumer Advisory | Notable Legal Cases | Class Actions | General Info | Star rating |
|---|---|---|---|---|---|---|---|---|---|---|
| Allstate Life Insurance Company of Canada, Ryan Michel Chief Executive Officer | 100-27 ALLSTATE PKY, MARKHAM, Ontario, L3R 5P8 | Life; Accident and sickness. All classes of insurance are limited to the servicing of policies issued prior to November 15, 1996. | A+ | Allstate was founded in 1931 as part of Sears, Roebuck and Co. In 1985, Allstate began to move agents out of Sears stores to locate these
agents in neighborhood offices. In June 1993, Sears sold 19.8 percent of Allstate through a public stock offering. Allstate became completely independent
in June 1995, when Sears sold the remaining 80 percent stake in the company, distributing 350.5 million shares of Allstate stock to its stockholders.
In Canada, the core business of AllState has been auto and property insurance since 1953 in the provinces of Alberta, Ontario, Quebec, New Brunswick and
Nova Scotia.AllState does not manufacture life insurance products in Canada. It is only a distributor and AllState has signed an intercorporate agreement
to distribute the life products of Sun Life. In 1994 sold its group and health business to Equitable In 1997 sold deferred annuity block of policies to Empire In 2003 and 2015, the company's order to insure in Canada risks was revoked by OSFI |
Distribution has changed tremendously at AllState. While AllState employed exclusive agents, these exclusive agents were free to sell insurance and investments from other insurers. This changed when AllState closed 256 offices in Canada turning these commissionned agent into employees. The transition was not easy as described in this article. | FSCA has issued no notices or warnings against AllState | Travel Insurance: Falvo v. Allstate Insurance Company of Canada, 2009
Merit of a claim: Stranges v. Allstate Leading precedent (cost of health):Amoa Williams v. Allstate Insurance Company  Wigle v. Allstate Insurance Co. of Canada (1984)eye
Chan (Estate) v. Allstate Life Insurance Company of Canada
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Flood Coverage Quebec Ice storm Kafka v. Allstate: Mass Constructive Dismissals Not Appropriate for Class Actions |
Consumers should use caution when using an AllState agent for life insurance. First they should determine the authority of the agent and whether he is limited to selling products of Sun Life only or can he sell products of other companies. Consumers should require a price quote showing the price differential between what the Allstate agent can offer and what is truly available. |
Rating 1.8 insureeye Rating 1 Consumeraffairs Rating 3.5 Glassdoor Rating 5 Yelp Rating 3.9 Indeed |
| Assurant Life of Canada, Robert L. Zanussi Chief Executive Officer | 2000-5000 YONGE ST, TORONTO, Ontario, M2N 7E9 | Life; Accident and sickness. The class of accident and sickness insurance is limited to the servicing of business assumed from John Alden Life. | A- | A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; extended service contracts; vehicle protection; pre-funded funeral insurance; renters insurance; lender-placed homeowners
insurance; and mortgage valuation and field services. Since 1968, Assurant Solutions has been helping Canadians protect what matters most - from major appliances to mobile devices, from cars to computers and from financial protection to final arrangements.
September 2015, Sun Life Financial acquire U.S. Employee Benefits business of Assurant September 2015, Assurant announces the acquisition of Coast To Coast Dealer Services, Inc., a leading auto service contract company in Canada. |
Uses sales agent or counsellors to sell two plans a) Purple shield and b) FamilySide | FSCA has issued no notices or warnings against Assurant | Clause 2: Disguised Advertising Techniques | Credit Card Payment Protection Plan National Class Action | In September 2009, the South Carolina Supreme Court upheld a lower court’s verdict that the firm (then known as "Fortis") wrongly revoked the health insurance policy of a holder who had contracted HIV subsequent to getting an insurance policy, and ordered the firm to pay $10 million to the plaintiff. |
Rating 1.1 Consumeraffairs Rating 3.7 Indeed Rating 3.3 Rating 3.8 BBB Rating 1 Yelp Rating 3.36 at US agent |
| Aurigen Reinsurance Company, Alan K. Ryder Chief Executive Officer | 18 King Street East, 2nd Floor,Toronto, Ontario, M5C 1C4 | Life; Accident and sickness. The company may insure risks, limited to the reinsurance of risks, falling within the classes of life insurance and accident and sickness insurance. | A- | Aurigen Capital Limited is an insurance holding company that was formed in 2007 with a capital facility in excess of $500 million. Aurigen provides risk and capital management solutions tailored to specific customer needs, with its core business being the reinsurance of life insurance policies of North American residents.
2008 Aurigen Re to enter Canadian reinsurance market 2016 PartnerRe Ltd. Announces Acquisition of Aurigen |
Reinsurance only. No sales distribution | FSCA has issued no notices or warnings against Aurigen | Only mention is in the very secret BANKRUPTCY OF BGA FINANCIAL GROUP INC | None | Interview With Alan Ryder, President/CEO of Aurigen Capital Limited |
Rating 5 Glassdoor |
| Blue Cross Life Insurance Company of Canada, Marie-Josée Martin Chief Executive Officer | 644 MAIN ST, MONCTON, New Brunswick, E1C 8L3 | Life; Accident and sickness; Credit protection. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person. | A- | In 1939 Manitoba was the first province to establish a Blue Cross plan. It wasn’t long before the other provinces came on board with their own Blue Cross organizations.
With the introduction of Medicare in the 1960s, the Blue Cross plans adapted their products to complement the government program and help Canadians deal with rising prescription drug costs.
Blue Cross Canada is linked to Blue Cross Blue Shield Association through International Federation of Health Funds. |
Product mostly focusing on health and dental, travel but also life insurance are offered the seven independent Blue Cross member plans operating in regions across the country.Insurance agents can also sign agent contract to distribute Blue Cross products | FSCA has issued no notices or warnings against Blue Cross | Disability:Kay v. Blue Cross Life Insurance Co. of Canada
Expert testimony: Flewwelling v. Blue Cross Life Ins. Co. of Can., |
Cancer patient denied disability pay |
Rating 1.8 insureye Rating 3.2 Blue Cross |
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| BMO Life Assurance Company, Peter C. McCarthy Chief Executive Officer | 60 YONGE ST, TORONTO, Ontario,M5E 1H5 | Life; Accident and sickness. | A | BMO Life Assurance Company acquired AIG Life Insurance Company of Canada. Since April 2009, BMO Life Assurance Company is basically the new AIG Life of Canada. The company offers individual and group insurance including universal life insurance, term insurance, critical illness insurance, and accident and health insurance. The Company also offers immediate income annuities to individuals and structured settlement products and terminal funding annuities to businesses
1994: Abbey Life changed its name to Hartford Life September 1999: Amalgamation with Hartford Life Insurance January 2001: AIG acquires Norwich Union Life Insurance Company (Canada) |
Traditional insurance products are sold through autonomous agents/representatives. Guaranteed issue product InsureNow sold directly to the public. | FSCA has issued notices and warnings against BMO Life Assurance |
Group insurance:Zurich Life Insurance Company Limited v Branco
Life Insurance: Gagnon c. Compagnie d'assurance-vie AIG du Canada Rebating made legal: Placements Yvan Gaudreault inc. c. Cauchon Policy Delivery: Laniel c. Centre de services Excel inc. Policy issue that will lapse Thibault case Fafard c. AIG |
AIG now BMO is recognized as pushing the sales of Universal life while not ensuring the compliance of its agents. AIG has in fact empowered agents such as Thibault in selling Universal Life with non-compliant illustration. AIG failed to monitor Thibault despite knowing the fraud that Thiabult perpetrated against Empire. Thibault had a close relationship with the CEO of AIG/BMO. As a result, and until BMO has resolved this, we are giving a failing grade to BMO |
Rating 3.7 insureye Failed |
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| BMO Life Insurance Company | Life; Accident and sickness; Credit protection. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. The classes of accident and sickness insurance and credit protection insurance limited to the insurance against involuntary loss of employment, are limited to the servicing of existing policies. | NR | FSCA has issued no notices or warnings against BMO Life insurance |
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| Brookfield Annuity Company Paul Forestell Chief Executive Officer | 1640-333 BAY ST, TORONTO, Ontario, M5H 2R2 | Life; | N/A | Brookfield Annuity is the first company in Canada focused on providing pension de-risking solutions through group annuity policies. The parent company is Brookfield:BROOKFIELD ASSET MANAGEMENT INC. APPLICATION TO ESTABLISH AN INSURANCE COMPANY Notice is hereby given, pursuant to subsection 25(2) of the Insurance Companies Act (Canada), that Brookfield Asset Management Inc. intends to apply to the Minister of Finance for letters patent to incorporate a life insurance company. The proposed life insurance company will carry on business in Canada under the name Brookfield Annuity Company / La Compagnie de Rentes Brookfield and its head office will be located in Toronto, Ontario. The proposed life insurance company intends to engage in pension risk transfer and related activities. | N/A | FSCA has issued no notices or warnings against BMO Life insurance | Was previously Known As 9314563 CANADA INC from 13 August 2015 To 28 January 2016 |
Rating 4 Glassdoor |
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| Canada Life Assurance Company (The), Paul A. Mahon President/Chief Executive Officer | 100 Osborne Street North, Winnipeg, Manitoba, R3C 1V3 | Life; Accident and sickness; Credit protection. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | A+ | Founded in 1847, Canada Life provides a wide range of insurance and wealth management products and services for individuals, families and business owners from coast to coast.
In 2003 it became part of the Great-West Lifeco group of companies.
New York Life - Canadian operations purchased by Canada Life in 1994. 1998:Crown Life bought by Canada Life 2002:CNA Life bought by Canada Life |
Canada Life distributes its products through autonomous agents/representatives | FSCA has issued no notices or warnings against Canada Life insurance | AMENDED PENSION SURPLUS-SHARING AGREEMENT REJECTED BY COURT: Kidd v. The Canada Life Assurance Company, 2013
Travel insurance: Bird Estate v. Canada Life Corporate veil: Transamerica Life Insurance Co. of Canada v Canada Life Assurance Co. (1996) Wording and misrepresentation: Hallman v. Canada Life Assurance Quinn v. Canada Life |
Life Assurance Company (SERP)
Canada Life Vanishing premium Canada Life Financial Corporation and Great-West Lifeco Inc. Class Action Settlement |
Rating 2.2 insureye Rating 3.8 Glassdoor Rating 3.7 Indeed |
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| Canada Life Financial Corporation, Paul A. Mahon President/Chief Executive Officer | 100 Osborne Street North, R3C 1V3 | Life; | NR | Canada Life Financial Corporation (CLFC) is the parent company of The Canada Life Assurance Company and is a subsidiary of the publicly-traded financial services holding company, Great-West Lifeco Inc. | ||||||
| Canada Life Insurance Company of Canada (The), Paul A. Mahon President/Chief Executive Officer | 100 Osborne Street North, Winnipeg, Manitoba, R3C 1V3 | Life; Accident and sickness; Credit protection. All classes of insurance are limited to the business of reinsurance. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | NR | Reinsurance division of Canada Life | Rating 4.8 Indeed | |||||
| Capitale Financial Security Insurance Company (La), Steven Ross President and Chief Executive Officer | 7150 DERRYCREST DR, MISSISSAUGA, Ontario, L5W 0E5 | Life; Accident and sickness. | NR | La Capitale started as a mutual company that was formed in 1940 for Quebec goverment employees who wanted to establish a more secure way to pay for their funeral expenses. It started to offer its insurance product to everyone in 1976.
Now La Capitale has many line of businesses from general insurance to individual insurance.
2004: Purchased l'Unique General Insurance 2005:acquired the AGA Financial Group, 2006:acquired Penncorp Life Insurance Co. 2008: acquired York Fire/Casualty Insurance (changed its name to Unica) 2014 Penncorp becomes La Capitale Financial Security |
La Capitale uses non-autonomous agents/representatives to sell its products. As a result these agents/representatives are only allowed to sell what La Capital is allowing | FSCA has issued no notices or warnings against La Capitale | Discoverability in Long-Term Disability: Usanovic v. La Capitale Life
Agent treatment: Capitale (La), services conseils inc. c. Beldor Fraudulent misrepresentation: Beauséjour c. Capitale Penncorp Life Insurance Company v. Edison |
TREMBLAY V. LA CAPITALE: Ending the waiver of the premiums in cases of disability
Icestorm Vanishing premium: ROBERGE, Gérard v. La Capitale |
It is important to note that while La Capitale promotes its recruitment of agents by stating they will be building their OWN business. This is a misrepresentation. The business that the representative is bulding will be owned by La Capitale and the representative will have to sign a non-compete agreement... |
Rating 2.6 insureye Rating 3.6 Glassdoor Rating 4.5 Indeed Rating 3.4 Facebook |
| Chubb Life Insurance Company of Canada, Ellen Moore Chief Executive Officer | 199 BAY STREET, SUITE 2500, TORONTO, Ontario, M5L 1E2 | Life; Accident and sickness; Credit protection. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | A++ | Chubb in Canada operates as ACE INA Insurance, ACE INA Life Insurance and Chubb Insurance Company of
Canada. Chubb provides accident/health, commercial property, casualty and personal lines insurance products
and services throughout Canada.
2008: Combined Insurance is sold and becomes a member of the ACE Group of Companies. January 2016, ACE Limited acquired the Chubb Corporation, creating the world’s largest publicly traded property and casualty insurance company operating under the renowned Chubb name. |
FSCA has issued no notices or warnings against Chubb | Punitive Damages: SAGL v. Chubb |
Rating 3 insureye Rating 1.3 Yelp Rating 4 EIR Rating 3.4 Glassdoor |
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| CIBC Life Insurance Company Limited, Todd Lawrence President and Chief Executive Officer | 44TH FLOOR, COMMERCE COURT WEST, 199 BAY ST, TORONTO, Ontario, M4L 1A2 | Life; Accident and sickness. | NR | CIBC offers several insurance products including life insurance. Some of the life insurance policies offered by the company is CIBC Guaranteed Acceptance Life Insurance | Direct selling of their guaranteed issue product | FSCA has issued no notices or warnings against CIBC | Credit Card Payment Protection Plan National Class Action
Markarian v. CIBC (very significant for investment cases) |
Rating 3.5 insureye Rating 4 Indeed Rating 3.3 Glassdoor |
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| CIGNA Life Insurance Company of Canada, M. Eman Hassan President/Chief Executive Officer | 100 CONSILIUM PLACE, SUITE 301, SCARBOROUGH, Ontario, M1H 3E3 | Life; Accident and sickness; Credit protection. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | NR | Cigna is a global health services company dedicated to helping individuals and the companies they work for get more value from their benefits.It offers solutions to Canadian employees for more than 50 years1, Cigna offers a robust suite of flexible Group programs and solutions to serve clients and their employees in all provinces through our local Canadian team.
For more than 200 years, Cigna and its predecessor companies have been in the insurance field. In 1792, a group of Philadelphia citizens formed the Insurance Company of North America (INA), the first marine insurance company in the United States. In 1865, the Governor of Connecticut signed a special law creating Connecticut General Life Insurance Company (CG). In 1982, Cigna
was formed through the combination of INA Corporation and Connecticut General Corporation.
1997:CIGNA completes the sale of its individual life insurance and annuities businesses to Lincoln National Corporation. 2004: Great West health care acquisition |
FSCA has issued no notices or warnings against CIGNA | Preexisting conditions:Ellis Estate v. Cigna Life | Amara v. Cigna Pension Plan,
HIV Autism |
Rating 1.2 Consumeraffairs Rating 3.5 Glassdoor Rating 1.1 Yelp Rating 3.8 Indeed |
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| CompCorp Life Insurance Company | Life; Accident and sickness; Credit protection. CompCorp Life Insurance Company may carry on (i) business which generally appertains to acquiring, reinsuring, servicing, transferring or otherwise dealing with policies of insurance companies that are members of the Canadian Life and Health Insurance Compensation Corporation against which a winding-up order under the Winding-up and Restructuring Act has been made; and (ii) with the prior written approval of the Superintendent of Financial Institutions, business which generally appertains to acquiring, reinsuring, servicing, transferring or otherwise dealing with policies of insurance companies that are members of the Canadian Life and Health Insurance Compensation Corporation other than companies described in paragraph (i). The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | NR | Operating Under the name of Assuris, CompCorp is the not for profit organization that protects Canadian policyholders if their life insurance company should fail. Our role is to protect policyholders by minimizing the loss of benefits and ensuring a quick transfer of their policies to a solvent company, where their protected benefits will continue. Every life insurance company authorized to sell insurance policies in Canada is required, by the federal, provincial and territorial regulators, to become a member of Assuris. | FSCA has issued no notices or warnings against CompCorp | False publicity by advisor on annuities
CompCorp v. Blue Cross |
The last wind-up Assuris was involved with was in 2012 and involved Union of Canada Life Insurance |
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| Co-operators Life Insurance Company, Rob Wesseling President and Chief Executive Officer | 130 MACDONELL STREET, PRIORY SQUARE, GUELPH, Ontari, N1H 6P8 | Life; Accident and sickness; Credit protection. The class of Credit Protection is limited to the insurance against the involuntary loss of employment by a person. | A | The Co-operators Group Limited is a multi-product insurance and financial services co-operative with $39.9 billion in assets under administration. They operate in three core areas:
Property and Casualty insurance, Life insurance, Institutional investments.member organizations include co-operative organizations, credit union centrals and representative farm organizations.
1989: Counsel Life Insurance Corporation operates as a subsidiary of Co-Operators General Insurance Co. 1989:The Co-operators purchases HB Group Insurance 1999:The Co-operators General Insurance Company acquires L'Union Canadienne Compagnie d'Assurances. 2009: Co-operators acquires CUMIS 2015: The Co-operators has acquired Premier, one of the leading full-service managing underwriting agencies in Canada |
Distributions of Co-Operators products are done through a network of branches employing captive agents/non-autonomous representatives. Representatives can sell products of other insurers through Co-operators MGA HB Group Insurance Management Ltd. and CUMIS. (HB) and COSECO Insurance Company (COSECO) are wholly owned subsidiaries within The Co-operators Group Limited where HB has a financial relationship with the insurer, COSECO Insurance Company. COSECO Insurance Company is HB's principal insurer. HB is COSECO's sole Managing General Agent (MGA). COSECO outsources all business functions to HB and in turn HB receives a flat commission of 18% as MGA. | FSCA has issued ONE notice and NO warnings against Co-Operators | Gibbens v. Co-operators: Can herpes be an accident?
Travel insurance |
The one notice against Co-Operators is in relation to commission paid to Co-operators that are substancially different if the agent sells a Co-Operators versus the product of another insurer. This constitute a conflict of interest and may have an impact on the product recommended. |
Rating 2.7 insureye Rating 2.4 insureye Rating 3.9 Glassdoor Rating 3.7 Indeed |
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| CUMIS Life Insurance Company, Katherine A. Bardswick Chief Executive Officer | 151 North Service Road, Burlington, Ontario, L7R 4C2 | Life; Accident and sickness; Credit protection. All classes are limited to the extent authorized by its instument of incorporation. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | NR | CUMIS was acquired by Co-Operators in 2009 and is owned at 72.99% by Co-Operators. The CUMIS Group Limited (CUMIS) partners with credit unions to deliver competitive insurance and financial solutions.CUMIS serves approximately 380 credit unions, with a total of more than five million members. | Insurance services for members | FSCA has issued no notices or warnings against CUMIS | Disclosure:Linden Estate v CUMIS Life Lapse: Paul v. CUMIS Insurance Company, |
Rating 1.6 insureye Rating 2.5 Yelp Rating 4 Indeed Rating 4 Glassdoor |
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| Empire Life Insurance Company (The), Mark Andrew Sylvia President and Chief Exective Officer | 259 King Street East, Kingston, Ontario, K7L 3A8 | Life; Accident and sickness. | A | Empire Life is a Canadian company that has been in business since 1923. They offer individual and group life and health insurance, investment and retirement products, including mutual funds through their wholly-owned subsidiary Empire Life Investments Inc.
1992: Acquisition of a block of group business of The Metropolitan Life 1993: Acquisition of non-participating individual insurance policies of The Citadel Life 1995:Agreement to administer and assume deferred annuity and RRIF block of policies of Confederation Life 1997:Assumption of deferred annuity block of policies of Allstate Life 1998:Colonia Life acquired by Empire with name change to Concordia Life which then merged with Empire in 2002 2000:Assumption of annuity and RRIF block of policies of Coopérants, Mutual Life 2001:Amalgamation with Concordia Life Insurance Company |
Empire distributes its products through autonomous agents that are part of the MGA channel | FSCA has issued ONE notice and NO warnings against Empire | fraud:Thibault v. Empire
Policy delivery:Craig v. Empire Denial of benefit:Tanious v. The Empire |
Jimmy Loukas v. Empire
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As consumers, we are worried about the actions of Empire in the Thibault fraud where Empire knowing that Thibault had committed a fraud may or may not have reported the fraud committed to Thibault to provincial regulators. Empire refuses to disclose this. As a result, Thibault continued to sell insurance and continue to defraud other consumers. |
Rating 1.7 insureye Rating 3.7 Glassdoor Rating 3.8 Indeed |
| Equitable Life Insurance Company of Canada (The) Ronald E. Beettam President and Chief Executive Officer | ONE WESTMOUNT RD N, PO BOX 1603 STN WATERLOO, WATERLOO, Ontario, N2J 4C7 | Life; Accident and sickness. | NR | Equitable Life is now the remaining Canada's largest mutual life insurance companies believing its mutual status best serves the long-term interests of its policyholders. It was founded in 1920. It Offers a diversified lineup of financial products: Individual Life and Health Insurance, Savings and ..
1994: Acquired the Group Life and Health business of the Allstate Life Insurance Company of Canada 1999: Acquired a block of Metropolitan Life business from Clarica Life Insurance Co. |
Equitable distributes its products through autonomous agents/representatives | FSCA has issued no notices or warnings against Equitable | BGA fraud against Empire | Non certification: Zicherman v. Equitable | What we like about Equitable is its abilities to steer away from troubles. Publicly it acts with prudence and reserve. Many companies could learn from this company. |
Rating 2.5 insureye Rating 3.3 Glassdoor Rating 3.9 Indeed |
| Foresters Life Insurance Company Anthony M Garcia Chief Executive Officer | 789 DON MILLS ROAD, TORONTO, Ontario, M3C 1T9 | Life; Accident and sickness. | A | Foresters Financial is an international financial services provider with a unique history that began in 1874 when they set out to provide access to life insurance for average, working families.
One of its first leaders, Dr. Oronhyatekha, was one of Canada’s first Native doctors to include western medicine in his practice.Foresters Life, founded in Canada in 1898 as the Insurance Department of the Subsidiary High Court of the Ancient Order of Foresters, was incorporated in 1934 as Toronto Mutual Life Insurance Company and became Unity Life of Canada in 2002 when it amalgamated with its subsidiary, The Western Life Assurance
2008: Foresters acquired Unity Life of Canada changing its name to Foresters in 2012 |
Foresters Financial life insurance and annuity products are available through autonomous agents/representatives and you become a member of Foresters by buying one of their insurance products. | FSCA has issued no notices or warnings against Foresters | certification refused:In Bellaire v. Independent Order of Foresters, 2004 | Like Equitable, Foresters has kept its nose clean. personal lawsuits are minimal. Class actions inexistants. Unusual good track record for an insurance company. |
Rating 3 insureye Rating 3.0 Glassdoor Rating 3.8 Indeed |
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| Great-West Life Assurance Company (The) Paul A. Mahon President/Chief Executive Officer | 100 Osborne Street North, Winnipeg, Manitoba, R3C 1V3 | Life; Accident and sickness. | A+ | Great-West Life was founded in 1891 in Winnipeg and is currently a subsidiary of Great-West Lifeco, which is owned in majority bythe Power Corporation of Canada.
1997: London Life purchased by Great West LifeCo 1998: Prudential purchased by Great West LifeCo 2003: Canada Life is acquired by Great West LifeCo (owner of London Life and great West Life) owned by Power Corp 2007: Purchased Putnam Trust |
While Great West Life distribute its products through autonomous agents/representatives these agents can directly sign an agent contract with Great West Life wihout using an intermediary such as MGA. GWL has also intercorporate contract with companies such as Manulife | FSCA has issued no notices or warnings against Great West Life | Bad faith: Warrington v. Great-West
Mignault v. GWL: Agent autority Benificiary designation:Hurzin v. Great West Life Commission: Inglis v. The Great West Life |
use of participating account to finance buyout of London Life
RCMP Disability ERISA Vananishing Premiums: BRIGNOLI, Ezio v. Great West |
Consumers should be prudent when using an agent who has signed an agent contract directly with Great West Life because of the high probability of conflict of interest due to the presence of sales quota |
Rating 1.5 insureye Rating 3.2 Glassdoor Rating 3.6 indeed |
| Ivari Daniel Pellerin Internal Actuary | 5000 Yonge Street, Toronto, Ontario, M2N 7J8 | Life; Accident and sickness. | A | Ivari was previously known as Transamerica Canada which rebranded in October 2015.The Transamerica Corporation is an American holding company for various life insurance companies operating in different countries including Transamerica Life Canada, offering life and supplemental health insurance, investments, and retirement services.
In 1999, Transamerica was acquired by Aegon, a European financial services company headquartered in The Hague, Netherlands.
2000:ING Groep NV sold NN Life Insurance Co.(prior 1989 Nn Life was known as Mony Life) to Transamerica Life Canada Ivari was purchased by Wilton Re on july 2015 with Wilton being owned by management and the Canadian Pension Plan Investment Board (CPPIB). |
Products of Ivari are sold through autonomous agents/representatives | FSCA has issued TWO warnings against Ivari | MARIE AUDET c.9073-5671 QUÉBEC INC.*et JACQUES-ANDRÉ THIBAULT et TRANSAMERICA LIFE CANADA
Lafreniere c. Transmerica Lee v. Transamerica Life Canada: 10/8 concept and fraud Green v. Transamerica 15% illusration rate: Ashton c. Transamerica Life Canada Wong v. Transamerica Transamerica bad behavior: Joly c. Transamerica |
Excessive fees on NN seg funds and Universal Life
Can-Am fund did not replicate SandP: Fantl v. Transamerica |
in view of the warnings against Transamerica/now Ivari in the treatment of its policy owners and the bad faith demonstrated by Transamerica in charging excessive fees, we have reduced the rating of this company to reflect this. |
Rating 2.5 insureye Rating 4.3 Glassdoor Rating 3.9 indeed |
| London Life Insurance Company, Paul A. Mahon President/Chief Executive Officer | 100 Osborne Street North,Winnipeg, Manitoba,R3C 1V3 | Life; Accident and sickness. | A+ | London Life is a subsidiary of Great West Life. London Life was founded in London, Ontario, in 1874.
1996: London Life acquires the Canadian operations of The Prudential Insurance Company of America. 1997: Great West Life acquires London Life 2000:London Life rebranded its financial security planning division as Freedom 55 Financial. |
London Life distributes its life products through non-autonomous/captive agents located or associated with London Life branches accross Canada | FSCA has issued no notices or warnings against London Life | Suicide:The London Life Insurance Company v. Chase
Nightmare case?: Stronge Vs. London Life Insurance Company Swamy v. London Life Insurance Co. Consequences of a London Life agent contract: Doyle v. London Life Ins. Co Effective date suicide clause:Chablis Textiles Inc. (Trustee of) v. London Life Insurance Co., [1996] Vrbancic v. London life insurance Co |
London Life Insurance Company and Great-West Life Assurance Participating Life Insurance Policies Class Action
John D. B. Walcott and Ina May Lang v London Life Insurance Company |
When dealing with an insurer employing captive agents, the consumer must understand that they are choosing to deal with the insurer first and the agent second. The agent can be terminated without cause subject to a non-compete provision. |
Rating 2.9 insureye Rating 3.9 Glassdoor Rating 3.8 indeed |
| Manufacturers Life Insurance Company (The) Donald A. Guloien President/Chief Executive Officer | 200 Bloor Street East, Toronto, Ontario, M4W 1E5 | Life; Accident and sickness. | A+ | Manulife Financial Corporation is the holding company for the The Manufacturers Life Insurance Company which operates as a life insurance company in Asia, Canada, the United States, and internationally. It offers financial protection and wealth management products and services to personal and business clients; and asset management services to institutional customers.
1887: The Manufacturers Life Insurance Company is incorporated by Act of Parliament. 1901:The Company’s first amalgamation is with the Temperance and General Life Assurance Company. 1984:We acquire the Dominion Life Assurance Company. 1994:Purchase Confederation Life’s group life and health business. 1996:Amalgamation with North American Life Assurance company 1999:Demutualization 2000: Acquisition of Commercial Union Canadian Life Insurance 2001: Group Life and Health benefits acquired from Zurich Canada 2002: Acquisition of Zurich Canada 2003: Merger with John Hancock which owns Maritime Life Maritime Life: Aetna Life purchased Financial Life and Excelsior Life. Aetna Life was then purchased by Maritime Life. Maritime Life:Confederation Life's individual life and seg funds were bought by Maritime Life. Maritime Life:Royal SunAlliance (amalgamation of Gerling Global Life and Sun Alliance) was purchased by Maritime Life. Maritime life:Purchased U.N.A. Life 2015: Manulife acquires Standard Life Canada |
Manulife has one of the most extensive distribution system for its products. Distribution is:
Autonomous agents contracted through MGA Autonomous agents contracted directly with Manulife Intercorporate agreement with other insurance companies to offer Manulife products to captive agents of this company for example Sales directly to public through CoverMe guaranteed issue, simplified issue, traditional issue Affinity Market: sales through intermediaries not licensed such as association and universities |
FSCA has issued MANY notices and warning against Manulife | Bad ethics against an agent:Ward v. Manulife
Underwriting:Kong v. Manulife University as principal and Manulife as agent Agent paying premium for client:Manuvie, la compagnie d'assurance-vie manufacturers c. Entreprises Pierre Agouri |
reinsurance on new seg fund: Dugal v. Manulife
Ironworkers Ontario Pension Fund, et al. v Manulife Financial Corporation, et al. Allen et al v The Manufacturers Life Insurance Co. Benesure (Mortgage Fraud) Barbados Portus Vanishing Premiums |
We have failed Manulife because of the exitence of oral and written statements made by executives of this company stating that Manulife is too big to obey the law. Manulife has a history of breaking the law and so far has never faced criminal charges in its involvement in the fraudulent lapses of orphan life policies. Consumers should be aware that if they are the victim of any wrongdoings perpetrated by Manulife, they will have little recourse. |
FailedRating 2.2 insureye Rating 3.7 Glassdoor Rating 4 indeed |
| Manulife Assurance Company of Canada Paul Lorentz Chief Executive Officer | 200 Bloor Street East, Toronto, Ontario, M4W 1E5 | Life | ||||||||
| Manulife Financial Corporation, Donald A. Guloien President/Chief Executive Officer | 200 Bloor Street East, Toronto, Ontario, M4W 1E5 | Life | Holding Company for all Manulife subsidiaries | |||||||
| MD Life Insurance Company Marie Christine Allison President/Chief Executive Officer | 1870 ALTA VISTA DR, OTTAWA, Ontario, K1G 6R7 | Life; Accident and sickness. | NR | MD Life Insurance Company is owned 45% by Industrial Alliance and 55% by MD Financial Management Inc. which is which is itself a wholly owned
subsidiary of CMA (Canadian Medical Association) Holdings (2014) Inc. MD Management, the forerunner of MD Financial Management, was launched in 1969. MD has the only business imperative of enhancing physicians’ (members of CMA) financial outcomes by focusing on their distinctive needs and operating in their best interests.
MD Life was created by National Life of Canada (45% ownership) (subsidiary of Industrial Alliance since 1988) and MD Management. National Life was in charge of the administration of the new company. In 2004, Industrial Alliance combined its operations with National Life with Industrial now owning 45% of MD Life In 2009, Industrial Life signed an agreement to acquire MD Life's Life Insurance Portfolio. Under this agreement MD Life would only continue to manufacture the Group Annuity policy MD Stable Income Fund. |
Products of various insurance companies such as Industrial Alliance are sold to physicians through MD Insurance Agency Limited Distribution of insurance products | FSCA has issued no notices or warnings against Equitable | Use of client info:MD Physician Services Inc. v. Jonathan Financia
MD Management Limited v. Campbell Solicition of previous clients: MD Management Limited v. Dhut |
Rating 4.1 Glassdoor |
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| Primerica Life Insurance Company of Canada John A. Adams Chief Executive Officer | 2000 ARGENTIA ROAD, PLAZA 5, SUITE 300, MISSISSAUGA, Ontario, L5N 2R7 | Life; Accident and sickness. | A+ | Primerica, Inc. is a United States-based insurance and financial services company. Primerica is headquartered in Duluth, Georgia and conducts business principally in the United States, Canada and Puerto Rico. Founded in 1977 by Arthur L. Williams, Jr. as A.L. Williams Associates (A.L. Williams), the company established its base by mass-marketing the concept of "Buy Term and Invest the Difference | Primerica has a unique distribution system. What must be understood is that Primerica uses a captive/non autonomous sales force that cannot sell the products of other insurers. What is truly unique of Primerica is thier recruitment of agents which has a very pyramidal nature and structure. We are concerned to read in legal documents that as part of the training, when the future agent is not yet a representative, they must find 3 persons that must purchase Primerica product. In our opinion, this is illegal and pyramidal in nature. | FSCA has issued no notices or warnings against Primerica | Primerica agent contract:Huras v.Primerica
Claudine Benjamin v. Primerica Life Insurance Primerica Life Insurance Company of Canada v Financial Service Commission of Ontario Incontestbility:Rainer v. Primerica Reinstatement:Kubanowski v. Primerica Rejected Fraud:Caldeira v. Primerica |
First if you choose to deal with a Primerical representative, it is your responsability to compare the Primerica price quote with what other insurers can offer in order to NOT overpay. We have reduced the rating of Primerica to reflect a defect in their philosophy. We fully agreed with them that you should not invest in life insurance. However life insurance is an asset and should always be managed as such. As an asset, the value of insurance can increase dramatically (for example a change in insurability) whether or not there is a cash value. The only way to manage that value is to have a conversion provision to a permanent plan. Primerica term policies are not convertible and this is a flaw in their strategy. |
Rating 2.7 Consumeraffairs Rating 3.8 Glassdoor Rating 4.1 indeed |
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| RBC Life Insurance Company, Rino D'Onofrio Chief Executive Officer | 9TH FLOOR, SOUTH TOWER, 200 BAY ST, ROYAL BANK PLAZA, TORONTO, Ontario M5J 2J5 | Life; Accident and sickness. | A | RBC Insurance offers a wide range of life, health, home, auto, travel, wealth and reinsurance advice and solutions, as well as creditor and business insurance services to individual, business and group clients.
2004: RBC purchases Westbury Life which becomes RBC Life Mutual of Omaha - Canadian operations purchased by RBC Insurance in 1998 2000:London Life rebranded its financial security planning division as Freedom 55 Financial. 2003: RBC purchased Unum Canada (was previously Paul Revere changing to Provident Life changing to Unum Provident) |
RBC Insurance solutions are provided via a wide variety of distribution channels: physical locations (branches and captive agents), autonomous agents, and other essential partners. | FSCA has issued no notices or warnings against RBC Life | Delay in making claim:Dube v. RBC Life>
Punitive damage:C.P. v. RBC Mental distress:Kerry Saunders v. RBC PPI Financial:1369453 Ontario Inc. v. RBC Insurance |
Class action against RBC Royal Bank of Canada regarding the fraud in Olympus Funds (Norshield)
Earl Jones class action Banks face $1 billion Canadian class action over currency market rigging Westbury vanishing premium |
Rating 2.1 insureye Rating 2.4 Glassdoor |
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| Reliable Life Insurance Company Paul M. Field Chief Executive Officer/CFO | 100 KING ST W PO BOX 557 STN LCD 1 HAMILTON, Ontario L8N 3K9 | Life; Accident and sickness; | NR | Reliable Life is part of the Old Republic Insurance Group, which in Canada, consists of Reliable Life and Old Republic Insurance Company of Canada. Old Republic Insurance Group is the Canadian operation for Old Republic International Corporation.Reliable Life Insurance Company is an insurance company has been operating since 1887. Reliable Life was created first as the Canadian Order of Chosen Friends.Reliable Life is a specialty life insurer, focused on manufacturing and administering customized, private-label products for distributors of travel, life, child accident, disability and health insurance. While Reliable Life Insurance Company offered term insurance market in the 1990s, the company only offers insurance products limited to vacation, business, student and snowbird travel insurance. It also offers student accident insurance through school boards across Canada long-term disability products and other types of accident and sickness insurance products marketed throughout Canada. | Distribution will vary by the private label product offered by Reliable. For example Raliable offers accicent insurance for kids directly to families Insure my kids | FSCA has issued ONE notice and NO warnings against Reliable Life insurance | travel insurance:Rosenblat v. Reliable Life Insurance Co.
Do your own underwriting:Kulak v. Reliable Life Insurance Company, |
As a principle, we are against any insurance product where the consumer must do his own underwriting and determine his own risk classification. In Kulak versus Reliable, you can see how dangerous this is. We have reduced Reliable rating for using this reprehensible practice |
Rating 2.1 Glassdoor Rating 3.4 indeed |
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| RGA Life Reinsurance Company of Canada Alka Gautam President and Chief Executive Officer | 1300-1981 MCGILL COLLEGE AVE MONTREAL, Quebec H3A 3A8 | Life; Accident and sickness; Credit protection. All classes of insurance are limited to the business of reinsurance. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | A+ | As a Canadian life reinsurer, RGA is regulated by the federal Office of the Superintendent of Financial Institutions (OSFI).RGA is a market leader in Canada, conducting business with virtually every life insurance company in the country. Reinsurance Group of America, Incorporated is one of the largest global life and health reinsurance companies with operations in 26 countries | RGA does not offers insurance directly to consumers since it only deals with insurance risks where the insurer sells and cede in part or in whole the risk of an insurance policy automatically as per a reinsurance treaty or on a facultative basis (outside of treaty). The consumer is not a party of the treaty arrangement between insurer and reinsurer and therefore reinsurance provides no consumer value except that it helps an insurance managing risk which can have an impact on the solvency of the insurer. | FSCA has issued no notices or warnings against RGA Life insurance |
Rating 4 Glassdoor Rating 3.5 indeed |
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| Scotia Life Insurance Company Robert James Grant President and Chief Executive Officer, Insurance Canada | 100 YONGE ST 4TH FLOOR TORONTO, Ontario M5H 1H1 | Life; Accident and sickness; | NR | ScotiaLife Financial is a subsidiary of Scotia Bank. Life insurance policies sold via ScotiaLife Financial are underwritten by Scotia Life Insurance Company. In fact, Scotia Life Insurance Company is a subsidiary of Scotiabank and is the underwriter for all insurance policies sold by the Bank. | rRegular insurance is sold online through the internet without the involvement of a licensed representative. | FSCA has issued no notices or warnings against Scotia Life insurance | McLeod v. Scotia Life |
Rating 3.4 Glassdoor Rating 3.7 BBB Rating 2.5 insureye |
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| Sun Life Assurance Company of Canada Dean A. Connor President and Chief Executive Officer | 150 KING ST W TORONTO, Ontario M5H 1J9 | Life; Accident and sickness; Credit protection. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | AA- | Sun Life was founded in Canada in 1865. It was founded in Montreal, Quebec, as The Sun Insurance Company of Montreal in 1865 by Mathew Hamilton Gault. It became Sun Life
Assurance Company of Canada in 1882. As a leading Canadian-based financial services company, this insurer now offers a broad range of insurance, retirement and investment products and services to meet the diverse needs of both individual and corporate customers around the world.
1998: Met Life Canada was purchased by Mutual Life 1999: Mutual Life changes name to Clarica 2001: Sun Life combines operations with Clarica 2007: Sun Life retires the name of Clarica |
Sun Life distributes its product through a network of Sun Life advisors (captive/previously Clarica or Sun Life advisors who chose not to transfer to Clarica), 3rd-party partners and other distributors | FSCA has issued no notices and ONE warning against Sun Life insurance | Aggravated damages:Fidler v. Sun Life
Disability:Kassburg v. Sun Life Assurance Balzer v. Sun Life < Malice:Sun Life Assurance Co. of Canada et al. v. Dalrymple Misrepresentation:Venner v. Sun Life Ins |
Fehr v. Sun Life
Vanishing premiums:Dabbs v. Sun Life Ruffolo v. Sun Life Kang v. Sun Life Assurance |
In view of our findings that Sun Life has knowingly and illegally denied living benefits to a critically ill policy owner (which would have forced the policyowner to cancel his policy) and having changed this decision when Sun Life was caught doing this, we have reduced the rating of Sun Life |
Rating 2.2 insureye Rating 3.7 BBB Rating 3 expertinsurance |
| TD Life Insurance Company Kenneth W. Lalonde President and Chief Executive Officer | 12TH FLOOR 50 CRÉMAZIE PL MONTRÉAL, Quebec H2P 1B6 | Life; Accident and sickness; | NR | TD Insurance is part of the TD Bank Group, one of Canada’s largest financial services organizations offering general insurance and life and health insurance. They are one of the largest direct-response home and auto insurance group and one of the top three personal home and auto insurance groups in Canada. They are also a leader in critical illness insurance and a pioneer in affinity marketing. | The insurance is distributed online from term to term 100 | FSCA has issued no notices or warnings against TD Life insurance | Cheetham v. TD Life
Cheetham v. TD Life |
Rating 2 insureye Rating 3.6 Glassdoor Rating 3.8 indeed |
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| VSP Canada Vision Care Insurance, Gregory M. Fayarchuk, CEO | 7695 CHENIN DE LA COTE-DE-LIESSE, SAINT-LAURENT, Quebec H4T 1G2 | Life; Accident and sickness. All classes of insurance are limited to the servicing of existing policies. | NR | Through its benefits line of business, VSP Vision Care offer high-quality services to its members, clients, brokers, and eye care professionals. VSP is the only not-for-profit vision benefits and services company, with 58,000 clients, 37,000 network optometrists, and 82 million members. | Offers products to its members | FSCA has issued no notices or warnings against VSP Canada |
Rating 1.6 consumersaffairs Rating 3.6 Glassdoor | |||
| Wawanesa Life Insurance Company (The), S. Jeff Goy Chief Executive Officer | 200 Main Street, 7th Floor Winnipeg, Manitoba R3C 1A8 | Life; Accident and sickness; | A | Wawanesa Insurance is a Canadian mutual company owned by its policyholders and one of the largest property and casualty insurers in Canada. On September 25, 1896, The Wawanesa Mutual Insurance Company was born. | Wawanesa does not offer life insurance | FSCA has issued no notices or warnings against Wawanesa Life insurance |
Rating 3.3 insureye Rating 3 Glassdoor Rating 2.2 Yelp |
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| Western Life Assurance Company Patrick Bieleny Chief Executive Officer | 1010 24TH ST SE HIGH RIVER, Alberta T1V 2A7 | Life; Accident and sickness; Credit protection. The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | NR | Western Life originally started out as Federated Insurance of Canada, the Canadian arm of Federated Mutual.Back then, the focus of Federated Insurance was mainly on providing fire insurance to hardware and farm implement dealers. It entered the life insurance business in January of 1961 with the formation of Federated Life Insurance Company of Canada. Later Federated Life introduced group insurance plans. In May 2004, Federated Holdings of Canada Ltd. announced an agreement to sell Federated Life Insurance Company of Canada to Western Financial Group Inc. | Provides Term 10, 20 and 30 solutions online | FSCA has issued no notices or warnings against Western Life Assurance | Firth v. Western Life
Minor;Western Life Assurance Company v. Armstrong |
Rating 3.5 insureye |
2. List of Foreign Life Insurance Companies
There are 32 foreign insurance companies operating in Canada. If you know where to look for, you can buy insurance from these companies instead of dealing with a traditional Canadian insurer. The Financial Services Consumer Alliance (FSCA) is proud to provide to the financial DIYer, all of the necessary information needed to select the right insurance company.
Please note that when shopping online for life insurance, web sites offering quotes will not show foreign insurers. They will show only Canadian insurers. Also fraternal societies offering insurance are also excluded from quotations offered by most web sites.
| Insurer | Address | Description | AM Best | History | Distribution | Consumer Advisory | Legal Cases | Class Actions | General Info | Star rating |
|---|---|---|---|---|---|---|---|---|---|---|
| Aetna Life Insurance Company | Life; Accident and sickness. | A | Aetna is an American managed health care company, which sells traditional and consumer directed health care insurance plans and related services, such as medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans. | Aetna offers health care, dental, pharmacy, group life, disability, and long-term care insurance and employee benefits, primarily through employer-paid (fully or partly) insurance and benefit programs, and through Medicare. | FSCA has issued no notices or warnings against Aetna | Fraud in the claim process:Andrusiw v. Aetna Life Insurance Co. of Canada | CAMIRÉ, Michel v. Aetna Life Insurance Co. |
Rating 3.5 BBB Business Rating 1.1 Consumeraffairs Rating 2 EIR |
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| Allianz Life Insurance Company of North America Scott McIndless Chief Agent | 700-2005 SHEPPARD AVE E,WILLOWDALE, Ontario,M2J 5B4 | Life; Accident and sickness. | A+ | Allianz Life Insurance Company of North America (Allianz) is a leading provider of retirement solutions, including fixed and variable annuities and life insurance for individuals.Allianz Global Corporate/Specialty (AGCS)provide unique end-to-end risk solutions for property, casualty, financial lines, aviation, energy, marine, entertainment and mid-corporate risks as well as international insurance programs with unequalled industry expertise. | With 50+ years of experience, Allianz Global Assistance has long-term partnerships with Canada’s best-known brands, which span all sectors of the travel insurance and global medical assistance markets. | FSCA has issued no notices or warnings against Allianz | Acciona Infrastructure Canada Inc. v. Allianz Global Risks US Insurance
PCL CONSTRUCTORS CANADA v. Allianz |
< Rating 3.7 BBB Business Rating 1.8 Consumeraffairs Rating 3 EIR |
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| American Bankers Life Assurance Company of Florida Robert Zanussi, Chief Agent | 2000-5000 YONGE ST, TORONTO, Ontario, M2N 7E9 | Life; Accident and sickness. Further, the foreign company is authorized to insure in Canada risks under the name in French, "American Bankers Compagnie d'Assurance Vie de la Floride". | A- | Known under the Assurant name: In 1991: AMEV Holdings is renamed Fortis, Inc. In 1999:American Bankers Insurance Group in Miami, Florida, one of the two leading U.S. credit-related insurers, is acquired. American Bankers is combined with American Security Group to form Assurant Group | In Canada it offers products into 2 segments:1. Assurant Solutions for Individuals Assurant Solutions helps protect the things that matter to you. We work with our business partners to offer enhanced protection on the things you buy and insurance for the financial services you regularly use. This could be for the new appliance or the latest mobile device you just bought. 2. Assurant Solutions for Business We take our position as leaders in the industries we serve seriously. Our approach is simple yet effective: we build customized solutions that assist Canadians in maintaining their ideal lifestyle, while enhancing the overall integrity of your brand value proposition. | FSCA has issued no notices or warnings against Assurant | Credit Card Payment Protection Plan National Class Action |
Rating 1 BBB Business Rating 1.6 Consumeraffairs Rating 3 EIR |
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| American Health and Life Insurance Company Henryka A. Anderson, Chief Agent | 380 WELLINGTON STREET, SUITE 1420, LONDON, Ontario, N6A 5B5 | Life. Further, the foreign company is authorized to insure in Canada risks under the name in French, "American, compagnie d’assurance-vie et d’assurance-maladie". | B | American Health And Life Insurance Company operates as a life and health insurance company and is based in Fort Worth, Texas. American Health And Life Insurance Company operates as a subsidiary of OneMain Financial Holdings, Inc. | In Canada, unknown | FSCA has issued no notices or warnings against American Health |
Rating 4 US agents |
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| American Income Life Insurance Company, Robin B. Cumine, Chief Agent | MCLEAN/KERR, 2800-130 ADELAIDE ST W, TORONTO, Ontario, M5H 3P5 | Life; Accident and sickness. | A+ | American Income Life is an international company protecting working families in the United States, Canada, New Zealand, and through our wholly-owned subsidiary, National Income Life Insurance Company in New York.American Income Life is a wholly-owned subsidiary of Torchmark Corporation (NYSE: TMK), an SP 500 Company that markets life and supplemental health insurance for middle-income families through its affiliate companies. | In Canada, AIL CANADA (a 100% union company) is a leader in providing supplemental insurance benefits. We strongly support the labor movement, its ideology and its common interests. The Satti Agency has been serving Atlantic Canadians for over 20 years. We continue to be one of the largest distributors of American Income Life products in Canada. At Satti, we are continuously investing in producing top level leadership teams throughout Nova Scotia, New Brunswick, and PEI. | FSCA has issued no notices or warnings against American Income | American Income Life Insurance Company v. The Queen and Knights of Columbus v. The Queen | People v. American Income Life Insurance Company | Interesting reading about this company |
Rating 1.5 Yelp Rating 3.7 BBB Rating 3 EIR |
| AXA Equitable Life Insurance Company, M. Eman Hassan, Chief Agent | CIGNA LIFE INSURANCE COMPANY OF CANADA, 100 CONSILIUM PLACE, SCARBOROUGH, Ontario, M1H 3E3 | Life; Accident and sickness. Further, the foreign company is authorized to insure in Canada risks under the name in French, "AXA Equitable assurance-vie". | A+ | AXA Equitable Life Insurance Company, together with its subsidiaries, provides insurance and financial advisory, and investment management products and services in the United States. The company operates in two segments, Insurance and Investment Management. | In Canada, Axa operates under 3 segments 1) Asset Management and financial services: AXA Rosenberg Canada Co. and AllianceBernstein Canada, Inc. 2) Assistance: AXA Assistance 3) Insurance: AXA Art Insurance Corporation | FSCA has issued no notices or warnings against Axa |
Rating 3.7 BBB Business Rating 2.9 Glassdoor Rating 3 EIR |
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| British Insurance Company of Cayman Brenda Buckingham Chief Agent | 2702-200 FRONT ST TORONTO, Ontario M5V 3K2 | Life; Accident and sickness; Credit protection. | A- | In 2013, The British Insurance Co. of Cayman trading as Berkshire Hathaway Group, Reinsurance Division will make an application to OSFI for insuring in Canada. This application will be restricted to reinsurance business within the credit protection; life, accident and sickness book of business. The British Insurance Co, of Cayman is established in Grand Cayman Islands but Toronto will house the office for their Canadian Chief Agent | FSCA has issued no notices or warnings against British Insurance Company |
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| Combined Insurance Company of America Vincent Iozzo Chief Agent | 7300 WARDEN AVE SUITE 300 MARKHAM, Ontario L3R 0X3 | Life; Accident and sickness; Credit protection. Further, the foreign company is authorized to insure in Canada risks under the name in French, "Compagnie d'assurance Combined d'Amérique". The class of credit protection insurance is limited to the insurance against the involuntary loss of employment by a person, the limit of which insurance is all or part of the debt of the person. | A+ | Combined Insurance Company of America (Chicago, IL) is a leading provider of individual supplemental accident, disability, health and life insurance products and a Chubb company. | In Canada, Combined Insurance's policies provide benefits to you when you need them most - in the event of an illness or accident. Even the best health insurance policies can leave you with uncovered and out-of-pocket expenses. That's where Combined Insurance can help. We provide insurance plans that are clearly written and easy to understand, making it easy for you to get the right coverage for you and your family. Insurance types include: Disability, Accident/Health, Critical Illness, Life | FSCA has issued no notices or warnings against Combined | Infant:HART (GUARDIAN AD LITEM OF) V. COMBINED INSURANCE | RADMANOVICH V. COMBINED INSURANCE COMPANY Palmer v Combined |
Rating 3.9 BBB Business Rating 3.1 Glassdoor Rating 4 EIR |
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| Connecticut General Life Insurance Company M. Eman Hassan Chief Agent | 100 CONSILIUM PLACE SUITE 301 SCARBOROUGH, Ontario M1H 3E3 | Life; Accident and sickness. | A | Connecticut General Life Insurance Company, Inc. offers life, disability, and accident insurance products. The company offers life, accident, and supplemental health insurance to individuals via direct marketing; health care and related employee insurance benefits to the expatriate employees of multinational companies on international assignments; and managed medical, pharmacy, and dental care services, including integrated indemnity and group life, and health insurance to workplace and consumer markets. It provides its products to employees and association members through their employers, associations, and other affinity groups. The company was incorporated in 1865 and is based in Hartford, | FSCA has issued no notices or warnings against Connecticut |
Rating 1.3 Yelp |
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| Employers Reassurance Corporation Gordon Narduzzi Chief Agent/Business Leader | 145 KING STREET EAST 2ND FLOOR TORONTO, Ontario M5C 2Y7 | Life; Accident and sickness. All classes of insurance are limited to the business of reinsurance. | A- | Employers Reassurance Corporation provides life and health reinsurance services. The company was founded in 1986 and is based in Overland Park, Kansas. Employers Reassurance Corporation operates as a subsidiary of GE Capital US Holdings, Inc. On Friday, 9 June 2006, Swiss Re completed the acquisition of GE Insurance Solutions. The acquisition creates the world's largest and most diversified global reinsurer. GE Insurance Solutions, which will be integrated into Swiss Re over the next 18 months, adds further momentum to Swiss Re's sustainable earnings growth. | FSCA has issued no notices or warnings against Employers |
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| GAN Assurances Vie Compagnie française d'assurances vie mixte Eric Lee Clark Chief Agent | 1200-425 MAISONNEUVE BLVD W MONTREAL, Quebec H3A 3G5 | Life. The class of Life insurance is limited to the servicing of existing policies. | NR | Gan Assurances Vie operates as a subsidiary of Groupama. | Pursuant to section 651 of the Insurance Companies Act (Canada) [the “Act”], notice is hereby given that GROUPAMA GAN VIE, carrying on business in Canada as a branch under the name GAN ASSURANCES VIE COMPAGNIE FRANÇAISE D’ASSURANCES VIE MIXTE (“GAN”), intends to apply to the Superintendent of Financial Institutions (Canada), on or after April 4, 2016, for an order authorizing the release of the assets that it maintains in Canada in accordance with the Act. | FSCA has issued no notices or warnings against GAN |
Rating 4 Yelp |
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| General American Life Insurance Company André St. Amour Chief Agent | 1300-1981 MCGILL COLLEGE AVE MONTREAL, Quebec H3A 3A8 | Life; Accident and sickness. The insurance business in Canada is limited to the business of reinsurance. | A+ | General American Life Insurance Company, Inc. offers life insurance products and services to the high net worth individuals, small business owners, and corporate clients. The company distributes its products through banks, credit unions, CPA firms, mortgage companies, and the Internet. The company was founded in 1933 and is based in St. Louis, Missouri. General American Life Insurance Company, Inc. operates as a subsidiary of Metropolitan Life Insurance Company. | In Canada: no data | FSCA has issued no notices or warnings against General American |
Rating 2.5 Glassdoor Rating 1.2 Consumeraffairs |
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| General Re Life Corporation Christopher E. Walton Chief Agent | 5705-1 FIRST CANADIAN PL PO BOX 471 TORONTO, Ontario M5X 1E4 | Life; Accident and sickness. All classes of insurance are limited to the business of reinsurance. | A++ | General Reinsurance Corporation is a global property/casualty and life/health reinsurance company offering a range of reinsurance products and services. The company is a direct reinsurer and is represented in all major reinsurance markets worldwide through a network of more than 40 offices. Gen Re is a member of the Berkshire Hathaway Inc group of companies | FSCA has issued no notices or warnings against General Re |
Glassdoor 3.4 rating |
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| Gerber Life Insurance Company Colleen Anne Sexsmith Chief Agent | 1145 NICHOLSON RD UNIT 2 NEWMARKET, Ontario L3Y 9C3 | Life. Further, the foreign company is authorized to insure in Canada risks under the name in French, "Compagnie d’assurance-vie Gerber". | A | Since 1967, Gerber Life Insurance Company has provided quality life insurance, especially for young families on a limited budget. As an affiliate of the Gerber Products Company, “the baby food people,” the two companies share a common goal: to help parents raise happy, healthy children. | In Canada, Grow Up Life Insurance policy is available in all provinces except Quebec, and is unavailable in the territories. The Grow Up Life Insurance policy is a Whole Life life insurance targeting children. Gerber also sells Term 10 and Guaranteed Life Plan for seniors. Products are sold OnLine | FSCA has issued no notices or warnings against Gerber |
Rating 3.68 BBB Business Rating of 4.4 by Gerber Rating of 2.5 Glassdoor |
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| Hannover Re (Ireland) Limited Canadian Life Branch Brian Reeve Chief Agent | 300-220 BAY ST TORONTO, Ontario M5J 2W4 | Life; Accident and sickness; Credit protection. Credit protection insurance is limited to the involuntary loss of employment. All classes of insurance are limited to the business of reinsurance. | A+ | Hannover Re (Ireland) Public Limited Company offers reinsurance products in Ireland. The company provides life and health reinsurance products and services and financial solutions. The company was formerly known as Hannover Life Reassurance (Ireland) Public Limited Company. The company was founded in 1999 and is based in Dublin, Ireland. Hannover Re (Ireland) Public Limited Company operates as a subsidiary of Hannover Life Re Ag. | In Canada,The branch, of a Member of Hannover Re Group, will offer mortality risk management; insurance based financial solutions; longevity; group life and special risk solutions to direct carriers in Canada. | FSCA has issued no notices or warnings against Hannover |
Rating of 3.5 on Glassdoor |
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| Hartford Life Insurance Company Colleen Anne Sexsmith Chief Agent | 1145 NICHOLSON RD UNIT 2 NEWMARKET, Ontario L3Y 9C3 | Life; Accident and sickness. All classes of insurance are limited to the servicing of existing policies. | A- | Hartford Life Insurance Company, together with its subsidiaries, provides insurance and investment products in the United States. Its activities include the run-off operations of annuity, and institutional and private-placement life insurance businesses. The company is based in Hartford, Connecticut. Hartford Life Insurance Company is a subsidiary of The Hartford Financial Services Group, Inc | In Canada, | FSCA has issued no notices or warnings against Hartford |
Rating of 4.8 by Hartford Rating of 1.9 by Consumer Affairs Rating of 4.8 by credio Rating of 3 by ICR Rating of 3.2 by BBB Rating of 3.8 at Indeed Rating of 4 at Nerdwallet Rating of 3.3 Glassdoor Rating of 1 at Yelp |
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| Jackson National Life Insurance Company Brian J. Reeve Chief Agent | 2100-40 KING ST W TORONTO, Ontario M5H 3C2 | Life; Accident and sickness. All classes of insurance are limited to the servicing of policies issued prior to June 1, 1992. | A+ | Jackson National Life Insurance Company is a U.S. company that offers annuities for retail investors and fixed income products for institutional investors. Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services. Jackson is a subsidiary of the British insurer, Prudential plc, which acquired the company for $608 million in 1986. | FSCA has issued no notices or warnings against Jackson |
Rating 1 Yelp Rating of 3.7 Indeed Rating 3.68 BBB Rating of 3 on EIR Rating 3.6 Glassdoor |
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| Liberty Life Assurance Company of Boston Garth Pepper Chief Agent | 1000-181 BAY ST BROOKFIELD PLACE TORONTO, Ontario M5J 2T3 | Life; Accident and sickness. Further, the foreign company is authorized to insure in Canada risks under the name, in French, "La Compagnie d’Assurance-Vie Liberté de Boston". | A | Liberty Life Assurance Company of Boston provides non-credit life insurance products, annuities, and structured settlement annuities. The company also offers permanent, term, and variable life insurance products. It sells its products through banks, distribution systems, and customer bases of other organizations. The company was founded in 1964 and is based in Dover, New Hampshire. Liberty Life Assurance Company of Boston operates as a subsidiary of Liberty Mutual Holding Company, Inc | 2004:Meloche Monnex Inc., a member of TD Bank Financial Group (TDBFG), today announced the signing of an agreement to acquire the Canadian personal lines property and casualty operations (automobile and homeowners insurance) of Boston-based Liberty Mutual Group. The Liberty Mutual operations covered by this agreement have written premiums of more than $390 million (US$264.6 million) for 2003, 350,000 policies and employ 775 people. Headquartered in Markham, Ontario, Liberty Mutual has 24 personal insurance sales offices located in Calgary, Edmonton, the Greater Toronto area, Southern Ontario, Ottawa, Peterborough, Greater Montreal and Saint John, New Brunswick. These Canadian operations are conducted through a branch of Liberty Mutual Insurance Company and a wholly-owned subsidiary, Liberty Insurance Company of Canada. The parent company, Boston-based Liberty Mutual Group, is a diversified international group of insurance companies and one of the largest multi-line insurers in the North-American property and casualty market, and is the eighth-largest writer of personal auto and homeowners insurance in the United States. | FSCA has issued no notices or warnings against Liberty | Liberty Mutual Group v. Gordon
Bissonnette c. Liberty Mutual Group Lopresti c. Liberty Mutual Insurance Group |
Rating 3.8 ConsumerAffairs Rating 4 Glassdoor Rating 3.2 Indeed Rating 3.7 BBB |
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| Life Insurance Company of North America M. Eman Hassan Chief Agent | 100 CONSILIUM PLACE SUITE 301 SCARBOROUGH, Ontario M1H 3E3 | Life; Accident and sickness. | Au | Life Insurance Company Of North America offers group life, accident, and disability insurance coverage. The company was founded in 1956 and is based in Philadelphia, Pennsylvania. Life Insurance Company Of North America operates as a subsidiary of Cigna Corp. | FSCA has issued no notices or warnings against Life Insurance of North America | Policy delivery:North American Life Assurance Co. v. Elson |
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| Metropolitan Life Insurance Company Colleen Anne Sexsmith Chief Agent | 1145 NICHOLSON RD UNIT 2 NEWMARKET, Ontario L3Y 9C3 | Life; Accident and sickness. Further, the foreign company is authorized to insure in Canada risks under the name, in French, "La Métropolitaine, compagnie d'Assurance vie". All classes of insurance are limited to the servicing of existing policies. | A+ | Metropolitan Life Insurance Company, together with its subsidiaries, provides life insurance, annuities, employee benefits, and asset management services in the United States.The company was incorporated in 1868 and is based in New York, New York. Metropolitan Life Insurance Company is a subsidiary of MetLife, Inc. | FSCA has issued no notices or warnings against Metropolitan | Frenette v. Metropolitan Life Insurance Co.
WANG V. METROPOLITAN LIFE INSURANCE CO. |
Sun Life/MetLife Life Insurance Class Action |
Rating 1.7 Consumer Affairs Rating 2.7 BBB |
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| Munich Reinsurance Company Mary Forrest Chief Agent | 24TH FLOOR 390 BAY ST, MUNICH RE CTR TORONTO, Ontario M5H 2Y2 | Life; Accident and sickness. All classes of insurance are limited to the business of reinsurance. | A+ | Munich Re Group or Munich Reinsurance Company is a reinsurance company based in Munich, Germany. It is one of the world’s leading reinsurers. ERGO, a Munich Re subsidiary, is the Group’s primary insurance arm. | Munich Re entered the Canadian reinsurance market in 1959 and today, our Life and Health reinsurance team serves clients across Canada and in the Caribbean from offices in Toronto and Montreal. We are the leading reinsurer in Canada and have a significant market position in all lines of Life and Health reinsurance. | FSCA has issued no notices or warnings against Munich |
Rating 3.7 Glassdoor Rating 4 Indeed |
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| New York Life Insurance Company Brian J. Reeve Chief Agent | 2100-40 KING ST W SCOTIA PLAZA TORONTO, Ontario M5H 3C2 | Life; Accident and sickness. Further, the foreign company is authorized to insure in Canada risks under the name, in French, "Compagnie d'assurances New York Life". | A++ | New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world, ranking #61 on the 2016 Fortune 500 list | In Canada,1994: Canada Life acquires the Canadian individual insurance operations of New York Life. Now New York Life underwrites product such as Group termlife plan | FSCA has issued no notices or warnings against New York Life | New York Insurance Co. v. Schlitt
legal tender: Schon v. New York Life Insurance Co. Selick v. New York Life Ins. |
New York Life and Canada Life Assurance Cie |
Rating 3.2 BBB Rating 4.1 ConsumerAffairs Rating 3.5 Glassdoor |
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| Pacific Life Re Limited Joel Cornberg Chief Agent | 600-375 UNIVERSITY AVE TORONTO, Ontario M5G 2J5 | Life; Accident and sickness. | NR | Pacific Life Re Limited provides various reinsurance products and services. It specializes in the reinsurance of life, critical illness, income protection, hospital cash, underwritten annuities, and longevity products for insurance and reinsurance companies. Pacific Life Re Limited was formerly known as Scottish Re Holdings Limited and changed its name to Pacific Life Re Limited in July, 2008. The company was incorporated in 1964 and is based in London, United Kingdom with additional offices in Singapore, Tokyo, Sydney, and Boston. It also has an entity in Toronto. Pacific Life Re Limited operates as a subsidiary of Pacific LifeCorp. | Notice is hereby given that PACIFIC LIFE RE LIMITED, an entity incorporated under the laws of the United Kingdom, intends to file with the Superintendent of Financial Institutions, on or after February 16, 2015, an application under subsection 574(1) of the Insurance Companies Act (Canada) for an order approving the insuring in Canada of risks, under the English name Pacific Life Re Limited and the French name Pacific Life, Compagnie de Réassurance Limitée. In particular, PACIFIC LIFE RE LIMITED intends to conduct in Canada life reinsurance business, including the provision of life reinsurance and accident and sickness reinsurance. The head office of the company is located in London, United Kingdom, and its Canadian chief agency will be located in Toronto, Ontario. Toronto, January 24, 2015 | FSCA has issued no notices or warnings against Pacific |
Rating 3.7 Glassdoor |
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| Partner Reinsurance Company Ltd. Patrick Li-How-Cheong Chief Agent | 909-123 FRONT ST W TORONTO, Ontario M5J 2M2 | Life; Accident and sickness. All classes of insurance are to be limited to the business of reinsurance. | A | Partner Reinsurance Company Ltd. provides multi-line reinsurance to the insurance companies. It reinsures risks, including property, casualty/motor, catastrophe, life, and alternative risk transfer, as well as specialty lines comprising agriculture, aviation and space, credit and surety, energy onshore, engineering, marine and energy off-shore, and casualty and property. The company was incorporated in 1993 and is based in Pembroke, Bermuda. Partner Reinsurance Company Ltd. operates as a subsidiary of PartnerRe Ltd. Pembroke, Bermuda (Oct. 21, 2016) – PartnerRe Ltd. ("PartnerRe") and Aurigen Capital Limited ("Aurigen" or the "Company") have announced a definitive agreement for PartnerRe to acquire 100% of the outstanding ordinary shares of Aurigen, a North American life reinsurance company. | FSCA has issued no notices or warnings against Partner |
Rating 3.5 Glassdoor |
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| Pavonia Life Insurance Company of Michigan Matthew Cook Chief Agent | 34 KING STREET EAST SUITE 1200 TORONTO, Ontario M5C 2X8 | Life; Accident and sickness. Further, the foreign company is authorized to insure in Canada risks under the name in French "Compagnie d’assurance-vie Pavonia de Michigan". Limiting its insurance business in Canada to the servicing of existing policies. | NR | Pavonia – On March 31, 2013, EnStar completed the acquisition of Household Life Insurance Company of Delaware, or HLIC DE, and HSBC Insurance Company of Delaware, or HSBC DE, from Household Insurance Group Holding Company, an affiliate of HSBC Holdings plc. HLIC DE and HSBC DE are both Delaware-domiciled insurers in run-off. HLIC DE owns three other insurers domiciled in Michigan, New York, and Arizona, respectively, all of which are in run-off (collectively with HLIC DE and HSBC DE, the Pavonia companies). The aggregate cash purchase price was $155.6 million. The Pavonia companies wrote various U.S. and Canadian Life insurance, including credit insurance, term life insurance, assumed reinsurance, corporate owned life insurance, and annuities. | What is Pavonia’s business? Credit life and disability insurance written in support of HSBC’s consumer lending activities inthe US and Canada – this represents the most significant premium income albeit low reserves due to short term nature. Term life insurance originally developed for sale through HSBC’s lending operations | FSCA has issued no notices or warnings against Pavonia |
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| Phoenix Life Insurance Company Brian J. Reeve Chief Agent | 2100-40 KING ST W SCOTIA PLAZA TORONTO, Ontario M5H 3C2 | Life; Accident and sickness. | B u | Phoenix Life Insurance Company provides life insurance and annuity products to affluent and middle market consumers. The company offers individual life insurance and retirement planning annuities. It distributes its products through independent agents and financial advisors in the United States. The company was formerly known as Phoenix Home Life Mutual Insurance Company and changed its name to Phoenix Life Insurance Company in June 2001. Phoenix Life Insurance Company was founded in 1851 and is based in Hartford, Connecticut with an additional office in Canton, Massachusetts. The company operates as a subsidiary of The Phoenix Companies Inc. | In Canada,RELEASE OF ASSETS Pursuant to section 651 of the Insurance Companies Act (Canada) [the “Act”], notice is hereby given that Phoenix Life Insurance Company intends to apply to the Superintendent of Financial Institutions (Canada), on or after March 19, 2016, for an order authorizing the release of the assets that it maintains in Canada in accordance with the Act. | FSCA has issued no notices or warnings against Phoenix | Boyce v. The Phoenix Mutual Life Ins. Co. | Niddrie and Associates |
Rating 3.4 Indeed |
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| Principal Life Insurance Company Brian J. Reeve Chief Agent | 2100 SCOTIA PLAZA 40 KING ST W TORONTO, Ontario M5H 3C2 | Life; Accident and sickness. Further, the foreign company is authorized to insure in Canada risks under the name, in French, "Compagnie d'assurance-vie Principal". | A+ | Principal Life Insurance Company provides health insurance products and services to businesses and individuals. The company was formerly known as Principal Mutual Life Insurance Company and changed its name to Principal Life Insurance Company in July 1998. The company was founded in 1879 and is based in Des Moines, Iowa. Principal Life Insurance Company operates as a subsidiary of Principal Financial Services, Inc. | RELEASE OF ASSETS:Pursuant to section 651 of the Insurance Companies Act (Canada) [the “Act”], notice is hereby given that Principal Life Insurance Company, carrying on business in Canada as a branch under the same name, intends to apply to the Superintendent of Financial Institutions (Canada), on or after November 14, 2016, for an order authorizing the release of the assets that it maintains in Canada in accordance with the Act. | FSCA has issued no notices or warnings against Principal Life. |
Rating 3.7 BBB Rating of 3.5 Glassdoor |
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| ReliaStar Life Insurance Company Matthew Cook Chief Agent | 34 KING STREET EAST, SUITE 1200 TORONTO, Ontario M5C 2X8 | Life; Accident and sickness. All classes of insurance are limited to the business of reinsurance, except that the foreign company may also provide insurance on the lives of residents of Canada insured under group policies issued in the United States. Further, the foreign company is authorized to insure in Canada risks under the name in French, "Compagnie D'Assurance-Vie ReliaStar". | A | ReliaStar's predecessor Northwestern National Life Insurance Company (NWNL) was founded in 1885 in Minneapolis. It grew into one of the largest financial services companies in the U.S., offering life insurance, annuities, mutual funds, group insurance and reinsurance. In 1967, it purchased North Atlantic Life Insurance Company of Jericho, NY. In 1977, it acquired Northern Life Insurance Company of Seattle. These companies were unified under the ReliaStar brand in 1995. The company continued to grow through acquisitions, including Pilgrim Funds, a mutual funds business acquired in 1999. ING US acquires in 2000 ReliaStar. In 014 ING US rebranded to Voya Financial | In 2010, RGA completed the acquisition of ReliaStar’s U.S. and Canadian group life, accident and health reinsurance business, which operated under the name ING Reinsurance and was owned by ReliaStar Life Insurance Company. | FSCA has issued no notices or warnings against ReliaStar | RELIASTAR LIFE INSURANCE COMPANY V. CANADA LIFE ASSURANCE |
Rating 2 Glassdoor |
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| SCOR Global Life | Life; Accident and sickness. All classes of insurance are limited to the business of reinsurance. | A | SCOR Global Life is a leading global Life Reinsurer with offices in more than 30 countries. We have been active in Canada since the mid 1990’s and have offices in both Montreal and Toronto. | In Canada, SCOR Global Life Canada is committed to serving Canadian life and health reinsurance needs on both an individual and group basis. Our partnership philosophy means we always strive to promote a win/win result in all our client relationships. | FSCA has issued no notices or warnings against SCOR |
Rating 3.4 Glassdoor |
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| State Farm International Life Insurance Company Ltd. Peter Koch Chief Agent | 1 FIRST CANADIAN PLACE TORONTO, Ontario M5X 1G5 | Life | NR | State Farm International Life Insurance Company Ltd. offers life and annuity insurance products. The company is based in Aurora, Canada. Farm International Life Insurance Company Ltd. operates as a subsidiary of State Farm Life Insurance Company. State Farm has provided life insurance and annuities products in Canada since January of 1954. On January 1, 2007,State Farm International Life Insurance Company Ltd. (SFI) commenced operations in Canada. On that date, all in-force State Farm Life Insurance policies transferred to the new company. SFI operated in three provinces; Alberta, Ontario and New Brunswick and is sold exclusively through Canadian State Farm agents. | In Canada,State Farm International Life Insurance Company Ltd. offers life and annuity insurance products. The company is based in Aurora, Canada. Farm International Life Insurance Company Ltd. operates as a subsidiary of State Farm Life Insurance Company.Since January 1, 2015, State Farm branded policies have been underwritten by Certas Home and Auto Insurance Company or Desjardins Financial Security Life Assurance Company ("DFS").For Life policies: Substitute "State Farm International Life Insurance Company Ltd." with "Desjardins Financial Security Life Assurance Company".Pursuant to section 651 of the Insurance Companies Act (Canada) [the “Act”], notice is hereby given that State Farm Fire and Casualty Company intends to apply to the Superintendent of Financial Institutions (Canada) on or after March 5, 2016, for an order authorizing the release of the assets that it maintains in Canada in accordance with the Act. | FSCA has issued no notices or warnings against State Farm |
Rating 2.5 insureye Rating 3.6 insureye Rating 1.4 consumeraffair Rating 3.3 Glassdoor |
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| Swiss Reinsurance Company Ltd (Life Branch) Chief Agent | 1000-150 KING ST W TORONTO, Ontario M5H 1J9 | Life; Property; Accident and sickness; Aircraft; Automobile; Boiler and machinery; Credit; Fidelity; Hail; Legal expense; Liability; Surety; Marine. The class of life insurance is limited to the business of reinsurance and the business of providing direct insurance coverage to pension plans. All other classes of insurance are limited to the business of reinsurance. Further, the foreign company is authorized to insure in Canada risks under the name in French "Compagnie Suisse de Réassurances SA". | A+ | Swiss Reinsurance Company Ltd, generally known as Swiss Re, is a reinsurance company based in Zurich, Switzerland. It is the world’s second-largest reinsurer. Swiss Re is a leading reinsurer and the world's largest life and health reinsurer. The company is global, operating from 70 offices in 30 countries. Since its foundation in 1863, Swiss Re has been in the reinsurance business. Swiss Re has three business groups: Property, Casualty, Life, Health and Financial Services. Swiss Re offers a wide range of traditional reinsurance products and related services, which are complemented by insurance-based corporate finance solutions and supplementary services. | FSCA has issued no notices or warnings against Swiss Reinsurance |
Rating 3.9 glassdoor Rating 3.9 Indeed |
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| United American Insurance Company | Life; Accident and sickness. | A+ | United American Insurance Company, based in McKinney, Texas, provides supplemental life, health, and accident coverage. UA was founded in 1947 | United American Insurance provides life, supplemental health, and accident insurance ... UA is licensed in 49 states, the District of Columbia, and Canada. | FSCA has issued no notices or warnings against United American |
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3. Provincial Insurance Companies
| Insurer | Address | Description | AM Best | History | Distribution | Consumer Advisory | Legal Cases | Class Actions | General Info | |
|---|---|---|---|---|---|---|---|---|---|---|
| Acadie Vie | MARTIN-J.-LÉGÈRE Building in Caraquet | Charter New Brunswick Accident, Life, Sickness | The cooperative idea was entrenched in Acadian communities at roughly the time of the Great Depression of 1929. This period of social and economic imbalance caused banks to stop lending based on the good faith of the people. Acadians then turned to loan sharks for credit and many lost their livelihood. Founded in 1938, the New Brunswick Credit Union League was mandated to provide savings and credit unions with such services as enhanced management services, bookkeeping, acquisition of office supplies and stationary, and the establishment of reliability insurance policies. Furthermore, the League promoted cooperation and represented the Caisses to the government. n 2016, our financial institution significantly changed its orientation, merging all its Caisses and its Federation under one Caisse, and rebranding itself to UNI Financial Cooperation. | 1948: Start of operations of the Société d'assurance des caisses populaires acadiennes (SACPA), now known as Acadia Life. 1950. It provides life insurance on loans and lines of credit. Province license: Ontario: Life. No other license found | FSCA has issued no notices or warnings against Acadie Vie |
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| Assumption Mutual Life Insurance Company | 770 Main St. P.O. Box 160 Moncton, NB E1C-8L1 Canada | Charter New Brunswick Life; Accident and sickness. | A- | Acadians living in Massachusetts sought to equip themselves with the means to assist the less privileged in their community. Their solution was to form the organisation la Société l'Assomption to ensure the well-being of families who had lost their fathers or husbands and to provide young Acadians living in the United States and Acadia the means to further their education. In 1913, la Société l’Assomption moved to Moncton. At this time, and for many years afterwards, the company was headed by members of the clergy, and many of the company's scholarship recipients became brothers or priests. In 1969, the fraternal society became a mutual insurance company and adopted the name Assomption Compagnie Mutuelle d’Assurance-Vie. | Assumption Life is licensed in most provinces but it seems it is too hard for this company to disclose this information on their website.Assumption Life fully supports the General Agent distribution network and therefore deals with autonomous agents/representatives | FSCA has issued ONE Warning against Assumption Life | Agent contract:GARRY ROY and CHARLES LÉGER v Assumption Breach of contract: Joanne Burns Plaintiff and Assumption Life, | Assumption Life failed our rating because of its public position and declaration of fraudulently breaching a life contract if a policy owner gets involved into a life settlement |
FAILEDRating 4 Glassdoor Rating 3.5 SpatReviews |
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| LES ASSURANCES FUNÉRAIRES ROUSSEAU ET FRÈRE LIMITÉE | 3300, BOULEVARD DES FORGES TROIS-RIVIÈRES QUÉBEC CANADA G8Z 1V6 | Quebec charter: life and health | FSCA has issued ONE notice and no warnings against Rousseau | Louis-Paul Beaudoin v. Les Assurances funéraires Rousseau | FSCA has little patience with insurance companies with an history of breaching contracts Une dame réclame son dû 63 ans plus tard |
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| British Columbia Life & Casualty Company | BC charter: life and health | site web | British Columbia Life And Casualty Company was founded in 1979. The Company's line of business includes the underwriting of life insurance.Now Pacific Blue Cross, with its subsidiary BC Life (British Columbia Life & Casualty Company), provides health, dental, life, disability, travel and other health insurance products to approximately 1.5 million British Columbians enrolled in group and individual plans. | Distribution: British Columbia only | FSCA has issued no notices or warnings against BC Life | Rivera v. British Columbia Life & Casualty Company
Rose v. British Columbia Life & Casualty Company |
Rating 3.7 BBB |
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| GMS INSURANCE INC. | 2055, ALBERT STREET REGINA SASKATCHEWAN CANADA S4P 0E3 | Saskatchewan charter: life and health | site web | GMS was founded in Saskatchewan in 1949 when a subscriber cooperative medical insurance plan merged with a physician-sponsored health insurance plan.In 2003, Group Medical Services formed a wholly owned subsidiary, GMS Insurance Inc., to further diversify and expand our geographic boundaries from Saskatchewan to other provinces in Canada. | GMS' products are currently available in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, Prince Edward Island, Newfoundland, Yukon, the Northwest Territories and Nunavut. Our goal is to offer Canadians choices and real value in health and travel insurance. | FSCA has issued no notices or warnings against GMS |
Rating 3.5 SpatReviews |
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| CANASSURANCE INSURANCE COMPANY | 550, RUE SHERBROOKE OUEST BUREAU B-9 MONTRÉAL QC CANADA H3A 3S3 | Quebec charter: life and health Mutual benefit association | A | Canassurance Insurance Company provides life insurance. Canassurance Insurance Company was formerly known as Canassurance Life Insurance Company Inc. and changed its name to Canassurance Insurance Company in July 2005. The company is based in Montreal, Canada. Canassurance Insurance Company operates as a subsidiary of Association D'hospitalisation Canassurance. | 1959 National programs covered by Blue Cross and its partners are adapted to provincial hospitalization plans in some provinces. Incorporation of the Compagnie Mutuelle d’Assurance-Vie du Québec, which offers complete social security plans, including life insurance, disability insurance, and pensions.
1983 The Compagnie Mutuelle d’Assurance-Vie du Québec diversifies its personal plans, particularly with the addition of a registered retirement savings plan, which is unseizable and may be converted at no charge at the time of retirement. On January 1, 1987, the Compagnie Mutuelle d’Assurance-Vie du Québec becomes Canassurance, compagnie d’assurance-vie inc., a limited company fully owned by the Québec Hospital Service Association. 2004 Acquisition of Union Life International’s insurance portfolios. Launch of the Mortgage Insurance plan, a life and disability insurance for property financing. 2005 Merger of the life insurance and general insurance subsidiaries, which becomes the Canassurance Insurance Company. |
FSCA has issued no notices or warnings against CANASSURANCE | Disability: Poitras c. Canassurance
Dufresne c. Croix Bleue du Québec Canassurance Lemieux c. Croix-Bleue du Québec Canassurance |
Rating 3 SpatReviews |
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| Desjardins Assurance | 200 rue des Commandeurs Levis, QC G6V6R2 Canada | Quebec charter: Life; Accident and sickness. | NR | Desjardins Financial Security Life Assurance Company designs, markets, and distributes individual and group insurance, and savings products. Its individual insurance products include life insurance, health and disability insurance, credit insurance, accident insurance, travel insurance, and home and auto insurance
1948 – Desjardins Life Assurance founded In the early 2000s, it merged with the Laurentian Life and Health Insurance Corporation, and then with Imperial Life, resulting in the creation of Desjardins Financial Security in 2002. 1962: La Sauvegarde was acquired 1989: Laurier Life Insurance was acquired 1992: Individual, group and accident insurance portfolios acquired from Les Coopérants 1994: Life and health insurance portfolio of the Laurentian Group and its subsidiary Imperial Life was acquired 1995: Æterna-Life Insurance Company was acquired |
Wide distribution:Financial centres of Desjardins Financial Security, Independent Network and Desjardins Financial Security Investments Inc. (in Canada, outside Quebec) Financial centres of SFL and SFL Investments (in Quebec), Desjardins caisses (more than 275 dedicated financial security advisors), Desjardins Business centres Direct insurance, either over the Internet or through the Company’s call centre services. We also maintain business relationships with many group plan representatives, consulting actuaries, as well as brokers and general agents (MGAs) across Canada. | FSCA has issued no notices and ONE warning against Desjardins | Disabiity
Insurability Replacement |
CLASS ACTION: EIGHT YEARS NO RETURN ON INVESTMENT
Credit Card Payment Protection Plan National Class Action |
Because of Desjardins fraudulent statement regarding the need of an insurable interest after a poicy has been issued which is untrue, consumers should be warned that Desjardins may seek to contest the validity of an insurance contract after it is issued. |
Rating 1 Spatreviews Rating 1 insureye |
| First Canadian Insurance corporation | 320 Sioux Road Sherwood Park, AB T8A3X6 Canada | Alberta Charter Life; Accident and sickness. | A | First Canadian Insurance Corporation is a national, privately chartered Life Insurance Company that has been offering Life and Disability insurance coverage on consumer loans through automotive dealership financial service offices since September of 1988. | Distribution: Since that time, the First Canadian Group of Companies has been marketing its Insurance, Mechanical Breakdown Protection, and Protection Product programs through automotive, RV, and marine dealers across Canada with tremendous success | FSCA has issued no notices or warnings against First Canadian | Date of death
Contract language |
Rating 3.8 BBB Rating 2.7 Indeed |
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| Humania Assurance Inc | 1555 Girouard Street West Saint-Hyacinthe, QC J2S-2Z6 Canada | Quebec charter: Life; Accident and sickness. | NR | The history of Humania Assurance dates back to 1874 when L’Union Saint-Joseph de Saint-Hyacinthe was founded under the direction of Father Louis-Zéphirin Moreau.
1937: At the society’s general meeting on November 14, 1937, the members in attendance adopted a resolution whose goal was to seek a law “to decree the incorporation of a mutual life insurance company named “La Survivance,” which shall acquire the assets and assume the liabilities and other obligations of L’Union Saint-Joseph de St Hyacinthe and may carry on any life insurance operations.” 2000: La Survivance, now operating as LS Mutual in English, broke new ground with regard to its health, critical illness, individual disability and, more recently, travel insurance products. 2012:LS Mutual Life Insurance Company was split into a mutual management corporation and capital stock insurance company, which develops, manages and distributes insurance products. Humania Assurance is then created. |
Distribution: In 1999, drawing on new legislation respecting the distribution of financial products, La Survivance adopted a more targeted vocation as “product manufacturer” and radically changed its means of distribution. It closed its sales offices, helped its exclusive agents become independent representatives and opened distribution of its products to independent brokerage firm | FSCA has issued no notices or warnings against Humania |
Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
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| Industrial Alliance Insurance and Financial Services Inc. | 1080, GRANDE ALLÉE OUEST C.P. 1907, SUCCURSALE TERMINUS QUÉBEC QC CANADA G1K 7M3 | Quebec charter Life; Accident and sickness. Credit Protection | A+ | iA Financial Group (Industrial Alliance Insurance and Financial Services Inc.) is an insurance and fi nancial services
company featuring four main lines of business: Individual Insurance, Individual Wealth Management, Group Insurance and
Group Savings and Retirement. The company also controls a large network of subsidiaries including Industrial Alliance Auto and Home
Insurance, IA American Life Insurance Company, IA Clarington Investments and The Excellence Life Insurance Company
1892 Creation of Alliance (Montreal) 1905 Creation of Industrial (Quebec City) 1987 Merger of Industrial and Alliance 2000 Demutualization 1982 Acquisition of North West Life 1988 Acquisition of National Life 1999 Acquisition of Seaboard Life (Vancouver)(Merged with Industrial Alliance Pacific) |
In the retail sectors in Canada, the company offers insurance and wealth management products through dedicated agents, iA affiliates, managing general agents and independent advisors. Has its own MGA named Solicour for its captive agents to sell other companies products | FSCA has issued no notices and ONE warning against Industrial Alliance | AUGMENTATION NON DIVULGUÉE DES PRIMES DES POLICES D'ASSURANCE < | IA has a failed rating following its comments on life settlements and it threath of using fraudulent breach of contracts to prevent policy owners from enjoying the full ownership of their life policies. |
FAILEDRating 1 YelpRating 2.8 insureye Rating 3.1 glassdoor |
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| La Capitale Insurance and Financial Services Inc. | 625 Saint-Amable Street Quebec, QC G1R 2G5 Canada | Quebec charter Life; Accident and sickness. | site web | In 1940, members of Quebec's association of civil service employees joined forces and created a fraternal benefit society to protect their families' financial health in the event of death.
Today, La Capitale has more than 265,000 Mutual members.
1989: La Capitale Insurance and Financial Services is created 2004: Acquisition of L'Unique General Insurance Company 2005: Acquisition of Orléans General Insurance Company by L’Unique Acquisition of AGA Financial Group 2006: Acquisition of Penncorp Life Insurance Company 2012: Acquisition of Promutuel Vie |
Distribution:21 financial centres and branches 20 general agents in Quebec,2,318 brokers in Quebec , 369 financial security advisors and partner agents, 84 general agents in the rest of Canada, 2,482 brokers in the rest of Canada | FSCA has issued no notices or warnings against La Capitale | How not to treat an advisor... |
TREMBLAY V. LA CAPITALE ASSUREUR ROBERGE, Gérard v. La Capitale assureur Ice Storm 1998 |
Rating 3.6 Glassdoor Rating 4.5 Indeed |
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| LS-Travel, Insurance Company | 1201-10060 Jasper Avenue, Scotia Tower 2 Edmonton, AB T5J4E5 Canada | Quebec Charter Life; Accident and sickness. | Saint-Hyacinthe, April 18, 2013 – At the celebration to mark its 75th birthday, LS Mutual of Saint-Hyacinthe announced its decision to change its name from “LS Mutual Life Insurance Company” to “Humania Assurance Inc.” | Throughout 2015, Humania Assurance was able to maintain its presence in markets in the ROC, with 31% of individual insurance sales, including those of its subsidiary LS-Travel, completed primarily in Ontario and Western Canada. In addition, 22% of Humania Assurance's sales were completed online by independent advisors. | FSCA has issued no notices or warnings against LS-Travel |
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| MEDAVIE INC. | 644, MAIN STREET MONCTON NB CANADA E1C 8L3 | Nova Scotia Charter Life; Accident and sickness. | site Web | Medavie Blue Cross is a member of the Canadian Association of Blue Cross Plans.
1999 Maritime Medical Care and Blue Cross of Atlantic Canada join operations under the trade name Atlantic Blue Cross Care. 2001: Atlantic Blue Cross Care assumes responsibility for marketing group benefits in Ontario and Quebec. 2003 A new corporate entity called Medavie Inc. is formed. |
Sell insurance through providers and advisors | FSCA has issued no notices or warnings against Medavie | Marijuana and veterans |
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| National Bank Life Insurance Company | 4500-855 2nd Street SW Calgary, AB T2P4K7 Canada | Quebec Charter Life; Accident and sickness. | FSCA has issued no notices or warnings against National Bank | |
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Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
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| OPTIMUM RÉASSURANCE INC. | 420, RUE MC GILL BUREAU 300 MONTRÉAL QC CANADA H2Y 2G1 | Quebec charter: Life and health reinsurer | FSCA has issued no notices or warnings against Optimum | |
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Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
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| PBC Health Benefits Society | BC charter: Life and health reinsurer | FSCA has issued no notices or warnings against PBC | |
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Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
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| SSQ Insurance Company Inc | 2525-Boul Laurier PO Box 10500 succ. Ste-Foy Quebec, QC G1V4H6 Canada | Life; Accident and sickness. | . | FSCA has issued no notices or warnings against SSQ | |
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Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
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| SSQ Life Insurance Company Inc. | 2525-Boul Laurier PO Box 10500 succ. Ste-Foy Quebec, QC G1V4H6 Canada | Life; Accident and sickness.Credit Protection | FSCA has issued no notices or warnings against SSQ | |
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Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
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| The Excellence Life Insurance Company | 300-5055 boul. Metropolitain Est bureau 300 Montreal, QC H1R1Z7 Canada | Quebec Charter Life; Accident and sickness. | FSCA has issued no notices or warnings against Excellence | |
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Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
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| The Union Life Mutual Assurance Company | 142 Heriot Drummondville, QC J2C1J8 Canada | Quebec Charter Life; Accident and sickness. | FSCA has issued no notices or warnings against Union Life | |
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Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
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| Trans Global Life Insurance Company | 275-16930 114 Avenue Edmonton, AB T5M3S2 Canada/td> | Alberta Charter: Life; Accident and sickness. | FSCA has issued no notices or warnings against Trans Global | |
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Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
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| VIACTION INSURANCE INC. | 2175, BOUL DE MAISONNEUVE E 210 MONTRÉAL QC CANADA H2K 4S3 | Quebec charter Life; Accident and sickness. | Sherbrooke vie compagnie d'assurance devient viaction Assurance Inc. | FSCA has issued no notices or warnings against Viaction | |
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Rating 1.1 consumeraffairs Rating 4.8 assurance411 |
4. List of Canadian Fraternal Societies
A fraternal benefit society is an institution that has a representative form of government and is operated for fraternal, benevolent or religious purposes, including the insurance of members, or the spouses/common-law partners or children of members, against accident, sickness, disability or death.
| Insurer | Address | Description | AM Best | History | Distribution | Consumer Advisory | Legal Cases | Class Actions | General Info |
|---|---|---|---|---|---|---|---|---|---|
| ACTRA Fraternal Benefit Society, Robert M. Underwood, President and Chief Executive Officer | 1000 Yonge Street, Toronto, Ontario, M4W 2K2 | Life; Accident and sickness. All classes of insurance are limited to the extent authorized by its instrument of incorporation and by-laws. | |||||||
| FaithLife Financial, Karen C. Bjerland, President and Chief Executive Officer | 470 WEBER ST N, WATERLOO, Ontario, N2J 4G4 | Life; Accident and sickness. All classes of insurance are limited to the extent authorized by its instrument of incorporation and by-laws. | |||||||
| Grand Orange Lodge of British America (The)James L. Bell, Chief Executive Officer | 94 SHEPPARD AVE W, TORONTO, Ontario, M2N 1M5 | Life; Accident and sickness. | |||||||
| Independent Order of Foresters (The),Anthony M. Garcia President and Chief Executive Officer | 789 Don Mills Road, Toronto, Ontario, M3C 1T9 | Life; Accident and sickness. All classes of insurance are limited to the extent authorized by its instrument of incorporation, constitution and laws. | |||||||
| Sons of Scotland Benevolent Association, Robert H. Stewart Chief Executive Officer | 801 - 505 CONSUMERS RD, TORONTO, Ontario, L1T 2M4 | Life; Accident and sickness. | |||||||
| Teachers Life Insurance Society (Fraternal), Douglas Baker President and Chief Executive Officer | 916 The East Mall, Suite C, Toronto, Ontario, M9B 6K1 | Life; Accident and sickness |
5. List of Foreign Fraternal Societies
The Financial Services Consumer Alliance (FSCA) is proud to provide to the financial DIYer, all of the necessary information needed to select the right insurance company.
| Insurer | Address | Description | AM Best | History | Distribution | Consumer Advisory | Legal Cases | Class Actions | General Info |
|---|---|---|---|---|---|---|---|---|---|
| Croatian Fraternal Union of America Pat Dale Chief Agent | 716 ABINGDON COURT, PICKERING, Ontario, L1W 3M7 | Life; Accident and sickness. | |||||||
| Knights of Columbus Brian M. Kehoe Chief Agent | 100-139 FRONT ST, PO BOX 757 STN CSC, BELLEVILLE, Ontario, K8N 5B5 | Life; Accident and sickness. | |||||||
| Order of United Commercial Travelers of America (The), Barry Spencer Chief Agent of Canada | 300-901CENTRE ST N, CALGARY, Alberta, T2E 2P6 | Life; Accident and sickness. All classes of insurance are limited to the extent authorized by its Articles of Incorporation, constitution and by-laws. | |||||||
| Supreme Council of the Royal Arcanum Jay Rosenblatt Chief Agent | 200-1 HUNTER ST E, HAMILTON, Ontario, L8N 3W1 | Life; Accident and sickness. | |||||||
| Ukrainian National Association Andrew Fynn Chief Agent | 90 ALLSTATE PARKWAY, MARKHAM, Ontario, L3R 6H3 | Life; Accident and sickness. |
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