DFS is ranked first in Quebec’s group insurance market and fourth in Canada
Montreal (Quebec), March 29, 2012 – Desjardins Financial Security (DFS), the life and health insurance arm of Desjardins Group, recently surpassed $2 billion of in-force premiums for its Group and Business Insurance business line. DFS, whose annual general meeting is today, offers employers a complete range of products and services that incorporate a comprehensive approach to workplace health. It’s ranked first in Quebec’s group insurance market and fourth in Canada.
$2 billion of in-force premiums: a group effort
“Over the past 10 years, our sales have grown faster than our market share, thanks to the constant growth of the Company, which is active nationwide,” explained Denis Berthiaume, President and Chief Operating Officer at Desjardins Financial Security, and Senior Vice-President and General Manager, Wealth Management and Life and Health Insurance at Desjardins Group. “We’ve achieved these great results thanks to our Group and Business Insurance teams, and I congratulate them for it. I would also like to thank the many groups, businesses and business partners that have put their trust in us. This historic achievement would not have been possible without them.”
Average annual growth of 12.2% over the past 10 years
Desjardins has been in the group insurance business for over 60 years. In 1952, the Company began offering group insurance to its caisse network employees and in 1955, Desjardins Life Assurance sold its first group insurance plan to an external client. Since then, Desjardins’ group insurance offer has continued to grow and improve to better meet clients’ needs. Over the past 10 years, in-force premiums have risen from $616 million in 2001 to the current $2 billion, for average annual growth of 12.2%. DFS recently launched Contact 360�, a comprehensive, value-added approach to health for group insurance plans.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the leading cooperative financial group in Canada, specializes in providing life and health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,600 people and administers $32.4 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montreal, Quebec, Levis, Halifax and St. John’s. For more information, visit the website at www.desjardinsfinancialsecurity.com.