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SSQ Life Insurance Co. Inc. and la Capitale Insurance and Financial Services are rebranding as Beneva, a mutual insurance company with more than $20 billion in assets under its management.

In January 2020, the two companies announced they were merging operations in a bid to grow their presence from coast to coast, noted a press release. “By joining together, we broaden our service offering in insurance and financial services for individuals, groups and associations,” said Jean-François Chalifoux, Beneva’s president and chief executive officer, in a press release.

Read: SSQ Insurance, la Capitale combining operations

Both companies’ operations will be integrated gradually, with the transition allowing Beneva to amplify its own culture and approach, noted the release. The newly formed company has more than 5,000 employees and more than 3.5 million members and customers.

“Creating Beneva gives us the means to grow on a national scale, while returning insurance to its essence: people looking out for people,” said Chalifoux.

Copyright © 2021 Transcontinental Media G.P. Originally published on benefitscanada.com

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