Beneva announced as the new brand for the largest mutual insurance company in Canada

8 December 2020

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Last week, Beneva was officially unveiled as the new name for the largest insurance mutual in Canada created through the merger of La Capitale and SSQ Insurance. Proud of its new branding, identity and its values, Beneva is confident that a more caring approach will resonate with Canadians across the country.

More than 75 years of experience and a strong workforce

Beneva’s members and customers will be at the heart of its actions and enjoy the benefits of its distinctive approach. They will be able to count on Beneva to accompany them through their life events by providing peace of mind. Beneva’s engagement is clear: offer simple and accessible products and services while contributing to the well-being of the communities it serves.

“Beneva is based on more than 75 years of experience with recognized and reliable expertise in insurance and financial services. Creating Beneva gives ourselves the means to grow on a national scale, while returning insurance to its essence: people looking out for people. We are very proud of the work done for our members and customers since the union of our two companies was announced last January. The Beneva unveiling makes the union and vision of the new identity concrete,” says Jean-François Chalifoux, President and CEO of Beneva.

Inspired by its mutualist roots, the strength of Beneva’s name lies in its meaning. The customer understands that choosing the company is beneficial to them, and that it is 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.

The scope of a major financial group

The two companies coming together positions Beneva as a major player in the industry and in the job market. With more than 5,000 employees, Beneva continues to recruit the best talent, thereby confirming its growth and development objectives. In fact, Beneva will rely on the strength and expertise of its employees for its national growth.

“By joining together, we broaden our service offering in insurance and financial services for individuals, groups and associations. With Beneva, we are giving ourselves the means to grow our presence from coast to coast. This allows us to position ourselves among the largest insurance companies in Canada, while remaining close to people,” says Jean-François Chalifoux.

Both companies’ operations will be integrated gradually. The transition will enable Beneva to amplify its own culture based on the brand fundamentals presented in the video available at: beneva.ca/launch.

About Beneva, an ICMIF member

Beneva was created through the coming together of La Capitale and SSQ Insurance to become the largest insurance mutual in Canada with more than 3.5 million members and customers. Beneva employs over 5,000 dedicated employees: people looking out for people. Its human approach is rooted in mutualist values that are shared by all its employees. With over CAD 20 billion in assets under management, Beneva positions itself as a major player in the insurance and financial services industry. Its head office is located in Quebec City. For more information, please consult beneva.ca.

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.

Commenting on joining as an ICMIF earlier this year, Jean-François Chalifoux said “As the largest mutual insurer in the country, our company is leading the mutualist and cooperative movement in Canada. Through ICMIF, we will be joining a network of the world’s largest mutuals, which we are convinced will be an asset for our organization. The knowledge, skills and experience of federation members will contribute to strengthening our competitiveness, especially in terms of sustainability, innovation and emerging risks. Above all, we are pleased to be able to promote the mutualist and cooperative model to our own members and customers.”

For member-only strategic content on the cooperative/mutual insurance sector, ICMIF members have exclusive access to a range of online resources through the ICMIF Knowledge Hub.

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