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Western Life - Final

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on 25 March 2015

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Transcript of Western Life - Final

Western Life Assurance
Our history is everything you would want in an insurance company; deep, diverse and dedicated to meeting the needs of Canadians.Western Life originally started out as Federated Insurance of Canada, the Canadian arm of Federated Mutual (whose own U.S. roots go as far back as the 1890’s). Back then, the focus of Federated Insurance was mainly on providing fire insurance to hardware and farm implement dealers. However, that quickly changed.

The company expanded its business and the company continued to grow and develop at a fantastic rate, entering the life insurance business in January of 1961 with the formation of Federated Life Insurance Company of Canada. Later Federated Life introduced group insurance plans. But perhaps the biggest change came in 1990, as both Federated Insurance Company of Canada and Federated Life Insurance Company of Canada become fully Canadian.
In April 2003, Fairfax Financial formed Northbridge Financial Corporation to serve as the holding company for their Canadian insurance subsidiaries that included Federated.
In May 2004, Federated Holdings of Canada Ltd. announced an agreement to sell Federated Life Insurance Company of Canada to Western Financial Group Inc. Federated Life’s operations base remains situated in Winnipeg and maintains a close-working relationship with Federated Insurance.

Western Life is part of the Western Financial Group family... and we couldn't be happier!
Western Financial Group is the largest western-based brokerage network in western Canada. With offices operating in over 85 communities throughout British Columbia, Alberta, Saskatchewan and Manitoba, Western Financial Group serves well over 500,000 customers. Add to that the fact that Western Financial Group has almost a century of experience in the western Canadian insurance marketplace.
In April 2003, Fairfax Financial formed Northbridge Financial Corporation to serve as the holding company for their Canadian insurance subsidiaries that included Federated.
In May 2004, Federated Holdings of Canada Ltd. announced an agreement to sell Federated Life Insurance Company of Canada to Western Financial Group Inc. Federated Life’s operations base remains situated in Winnipeg and maintains a close-working relationship with Federated Insurance.

You can understand why we're proud to be part of a company with such a recognized and respected reputation. Our affiliation actually began in May of 2004, when Federated Holdings of Canada Ltd. announced an agreement to sell Federated Life Insurance Company of Canada to Western Financial Group. The change in ownership resulted in a change of name, which is why we're now Western Life.
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High River, AB
Winnipeg, MB
Your Canadian Company
Our Vision
Our Journey
Western Life originally started out as Federated Insurance of Canada (whose own U.S. roots go as far back as the 1890’s)
February 2005
Western Financial Group acquired Federated Life Insurance Company of Canada, changing the name to Western Life Assurance Company
April 2011
Western Financial Group was acquired by Desjardins Group, in a $440 million transaction
45 Years of profitable growth
Did you know?
A.M. Best rating at A-
www.ambest.com
Office of Superintendent of Financial Institutions
(OSFI)
Minimum Continuing Capital Surplus Ration (MCCSR) Consistenly between 230% and 250% range
www.osfi.gc.ca
Assuris is a not for profit organization that protects Canadian policyholders
www.assuris.ca
The company expanded its business and entered the life insurance business in January of 1961 with the formation of Federated Life Insurance Company of Canada
“Western life has the financial strength to meet all our obligations to our customer’s needs”
The company’s stock price rose 1038%
Team
Customers are important to us
Variety of distribution channels
Pride
Value-added products
Full transcript