Answers to your questions
The union of both entities will help both companies to compete with the biggest names in a rapidly changing industry and strengthen Quebec’s expertise in the insurance industry while maintaining a key head office here in Quebec City.
In addition, our companies complement each other well and are of a similar size. We’re convinced that together we’ll be able to offer a unique client experience and become a top employer in Quebec and across Canada.
Beneva becomes the 1st group insurer in Quebec and the 4th in Canada. It ranks 3rd in Québec in general insurance and 13th in Canada. It becomes the 4th largest individual insurance company in Québec and the 6th largest individual insurance company in Canada. In addition, it holds an enviable position in savings with a 7th position in Canada in segregated funds.
We want to become a major player in Canada’s insurance industry. A successful company that retains strong mutualist values and that our members, clients, employees, and partners can count on.
A mutual company is a collective enterprise whose members, known as mutualists, come together to insure and protect themselves against certain risks like accidents and illness. The members are joint owners and users. They participate in their mutual company’s democratic process and ensure the surpluses are shared fairly and appropriately. Mutualism is a modern and sustainable business model that exists all over the world. Mutual companies demonstrate democracy and engage and empower individuals while fostering a community spirit. They are also business oriented and a successful business model.
The head office will be in Quebec City. The specific location has yet to be determined.
The new company has 5,000 employees. The goal is to sustain the company’s growth.
Inspired by our mutualist roots, the strength of Beneva's name lies in its meaning. The customer understands that choosing us is beneficial to them, and that we’re caring by nature. The very etymology of the name – bene (good) and va (to go) – is entirely positive. Beneva evokes the strength and reach of a major insurance company, but with a personable side, suggesting a whole new kind of experience.
Protecting our members’, clients’ and employees’ data is a priority. The new company is making every effort to keep their data safe.
The services we offer are complementary. Our goal at Beneva is to expand our range of products and services.
No, because La Capitale and SSQ Insurance's markets are highly complementary. One of the goals at Beneva is to offer more to our members and clients, with a client experience that is second to none.
All policies remain valid and unchanged. There are no changes for our members and clients. We will keep them up to date throughout the process.
For now, there are no changes for our members and clients. All insurance contracts will be honoured. Clients will be kept informed throughout the process.
The two companies together will enable us to offer our clients an experience and products that are closer and closer in line with their needs.
For now, there are no changes for our 5,000 employees. The activities of La Capitale and SSQ Insurance will be gradually combined over the next three years to ensure a smooth transition.
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