October 2012

A.M. Best Assigns Ratings to SSQ, Life Insurance Company Inc.

For the first time in its history, SSQ, Life Insurance Company Inc. has received a credit rating from A.M. Best Co. The credit rating agency today published the results of its analysis and has assigned a financial strength rating of "A- (Excellent)" to SSQ, Life Insurance Company Inc. The agency has also assigned an issuer credit rating of "a-". The outlook for both ratings is stable.


Industrial Alliance Announces Sale of its U.S. Annuity Business

Industrial Alliance Announces Sale of its U.S. Annuity Business

Industrial Alliance Insurance and Financial Services announced that it has concluded an agreement to sell by way of indemnity reinsurance and assumption reinsurance, all its U.S. fixed annuities and accumulation riders to Security Benefit Life Insurance Company and to Equitrust Life Insurance Company, two affiliates of U.S.-based Guggenheim Partners.


RSA Canada finalizes acquisition of L'Union Canadienne

 RSA Canada, one of Canada's leading home, car and business insurance groups, has received regulatory approval to close its acquisition of Quebec-based intermediated P&C insurer L'Union Canadienne.

"We're excited to welcome L'Union Canadienne employees, brokers and customers to RSA," said Rowan Saunders, President & CEO of RSA Canada. "We look forward to leveraging RSA and L'Union Canadienne's combined strengths in terms of people, products and technical expertise to deliver a winning proposition for Quebec brokers and customers."


Cooperatives make a fundamental contribution to the emergence of a new global governance" - Jacques Attali

Before 2,800 leaders from the most important cooperatives around the world, renowned economist, philosopher and prolific author Jacques Attali argued that cooperatives can provide solutions to the major challenges facing the world. "We now live in a global market economy, but rule of law is still national. This globalization without rule of law is the root cause of all the crises we are experiencing - financial, environmental and so on. The cooperative model is the model of the future, because it can reconcile the market economy with democracy. And it creates these compatibility conditions within the market economy itself," Mr. Attali began.


Clément Gignac joins Industrial Alliance as Senior VP and Chief Economist

Industrial Alliance Insurance and Financial Services is pleased to announce that Clément Gignac has joined its management team as Senior Vice-President and Chief Economist, effective December 3, 2012. Mr. Gignac, who holds a master’s degree in economics from Laval University, is a seasoned financial strategist and communicator with 30 years experience in both the private and public sectors. He spent the majority of his career at the National Bank, rising to the position of Vice-President and Chief Economist. In 2009, he took up public service and most recently was Minister of Natural Resources for the province of Québec.


Mobiliz: An Innovative Solution to Problems Related to Speeding

There are still too many accidents and death due to speeding inQuebec. It is in this context that on last April 11, Industrial Alliance launched Mobiliz, a new auto insurance policy that encourages young people to adopt more responsible driving behavior by rewarding good drivers. It is a positive and promising initiative, given that 52% of young insured have already improved their driving behavior thanks to this innovative program even if some drivers have only recently got insurance with Mobiliz.