The Caisse de dépôt et placement du Québec is lending $150 million to SSQ Life Insurance Co. Inc.

SSQ Insurance, a large insurance and investment company based in Quebec, is aiming to use the loan to carry out its strategic plan, which focuses on innovation, digital transformation and Canada-wide development.

Read: Caisse invests in Quebec insurance company, takes stake in French engineering firm

“CDPQ is pleased to reaffirm its trust in a long-standing partner and, again, support the growth plan of SSQ Insurance, one of the Quebec financial sector’s flagships,” said Marc Cormier, executive vice-president of fixed income at the Caisse, in a press release. “The insurance industry provides stable returns over a long-term horizon, which is in keeping with CDPQ’s investment objectives.”

The Caisse initially invested in SSQ Insurance in the early 2000s. It also has interest in other Quebec-based insurers and has recently invested in the insurance industry in Australia, Britain and the United States.

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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