Canada’s largest mutual insurer, created by the mega-merger of La Capitale and SSQ Insurance, has finally unveiled its new branding, identity and values. Starting today (12. December) has the Quebec based mutual that has more than 3. 5 million members and customers will be launched as Benava, with a focus on « people who look for people ». .
La Capitale and SSQ Insurance first announced that they would combine operations in January 2020 and « create a major new insurance company in Quebec ». The merger became official in June after members received the nod and required regulatory approval from the Quebec National Assembly, followed by the Autorité des Marchés-Financiers and the Treasury Secretary.
Together as Benava they are now the largest mutual insurance company in Canada with more than 5. 000 employees, more than $ 20 billion in assets under management, and approximately $ 5 billion in consolidated awards.
« Beneva is built on more than 75 years of recognized and trusted expertise in the insurance and financial services sectors, » said Jean-François Chalifoux (pictured above), President and CEO of Beneva and former CEO of SSQ Insurance. “The creation of Beneva gives us the opportunity to grow nationally while reducing insurance to the essentials: people looking for people.
“We are very proud of the work we have done for our members and customers since the merger of our two companies was announced last January. The Beneva unveiling concretizes the union and vision of the new identity. ”
The two combined companies position Beneva as a major player in the industry and on the job market. With more than 5. Beneva continues to actively hire 000 employees, confirming its growth and development goals. The company says it will rely on the strength and expertise of its employees to grow nationally.
« With the merger we are expanding our range of insurance and financial services for individuals, groups and associations, » said Chalifoux. “With Beneva we are giving ourselves the opportunity to expand our presence from coast to coast. This allows us to position ourselves among the largest insurance companies in Canada while staying close to the people. ”
Beneva is an invented word. When broken down into « bene » and « va », it can be associated with « benevolence » and « movement » (in French), Chalifoux explained. He told the insurance business, “Beneva can be associated with a movement toward friendliness that I find really inspiring and powerful. We really want to establish that as our new corporate culture. We want to be recognized as a company that puts people first. ”
The operations of both companies will be gradually integrated under the supervision of a Steering Committee for Integration led by Jean St-Gelais, former Chairman and CEO of La Capitale. After the merger, he took on the role of Chairman of the Board of Directors of Beneva.
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SSQ Insurance, Financial Services, Jean-Francois Chalifoux, La Capitale, Mutual Insurance
World News – CA – The combined La Capitale and SSQ insurance is launched as Beneva
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