Waterloo, Ontario — March 5, 2001 — Clarica and Allstate Insurance Company of Canada have broadened an existing distribution agreement to allow Allstate’s national network of more than 450 agent’s access to Clarica’s market-based funds.
Allstate Canada and Clarica first partnered in 1998, allowing Allstate agents to market and sell selected Clarica products, including life and health insurance. Today’s announcement intends to broaden their partnership to a more comprehensive range of products and expertise for their clients.
John Riley, Clarica’s Vice President, Sales Force Support, said “the expanded agreement will allow Allstate agents to refer customers seeking wealth accumulation products to Clarica agents, and receive a referral fee.” The agreement is subject to regulatory approval and the signing of a definitive agreement.
“Our expanded partnership enriches client relationships by providing access to a larger suite of competitive products – everything from life and health insurance to savings and retirement solutions. It also highlights Clarica’s commitment to increasing distribution and market penetration for its market-based funds and adding to the company’s top line growth,” said Riley.
George Hill, Allstate’s Vice President, Sales, said “this is about offering the market’s best to consumers. With Allstate as a leader in property and casualty insurance, and Clarica a leader in insurance and financial investments, together we offer Canadian consumers incomparable strength, protection and expertise.”
“In total, the Allstate and Clarica professional-trained sales forces total over 3,500 agents and managers throughout Canada. So with our expanded partnership, built on our mutual strengths and expertise, we’re fulfilling consumer needs for full financial protection. And that’s our goal, fully encircling the consumer with products and service that meet their needs,” said Hill.
Clarica (CLI: TSE) has provided insurance and investment solutions to Canadians for 130 years. As well as individual and group insurance, Clarica provides a full range of savings and retirement products. In Canada, Clarica serves nearly three million customers through 7, 800 staff, agents, financial planners and group representatives who operate out of 90 offices across the country. In the United States, Clarica operates from two mid-western locations to serve 225,000 policyholders.
Allstate Insurance Company of Canada is one of the nation’s leading providers of personal home and automobile insurance products. It operates through its network of personal agent advisors, call centre and internet service at www.allstate.ca. Allstate Insurance Company of Canada is a subsidiary of The Allstate Corporation (NYSE: ALL), one of the world’s largest insurance organizations, with global assets of over $US 87 billion and revenues exceeding $US 25 billion.