Imperial Life Assurance Company of Canada, the parent company of Imperial Life Financial (Bahamas) has completed its merger with Desjardins-Laurentian Life Assurance (DLLA), creating the Desjardins Financial Security Life Assurance Company.
The local company will continue to trade under its current name and will continue to offer the same range of products — individual life insurance, group and life health, and pension. Guy Richard, Executive Vice President of Imperial Life said being part of a bigger entity will provide access to more technology and expertise. *”Our mission is to help our customers attain financial security through a judicious combination of life and health insurance and investment products, in order to guard against the financial risks of accidents, illness or death, and to secure a retirement lifestyle”.*
Francois Joly, President of Desjardins Financial Security Life Assurance, pointed out that the merger followed the consolidation trends within financial services, and that the trend is expected to increase within the life and health insurance sector. In referencing the tough battle over the next few years, Mr. Joly said, * “Those companies who survive will be the ones who succeed in being innovative, remaining flexible and taking advantage of all the business opportunities that arise. The survivors will be those who focus their efforts on the customer and meeting his or her needs.”*