Growth Based on Innovative Ideas and Sound Acquisitions
The history of Desjardins Financial Security is marked by innovation and the acquisition of companies. Desjardins Life Assurance (DLA) was created in 1948. Although initially selling only individual life insurance, the new company quickly added several innovative group and retirement savings products to its roster, including family insurance, loan insurance, accident insurance for school children and savings-life insurance.
DLA grew in size over the years with the merger of some 20 or so insurance companies and portfolios. In 1999, with the introduction of the Act respecting the distribution of financial products and services in Quebec, Desjardins caisses were able to start selling the company's full line of life and health insurance products. Desjardins-Laurentian Life Assurance (DLLA) then set up a team of financial security advisors dedicated to caisse members.
Other mergers followed in 2000, first with the Laurentian Life and Health Insurance Corporation, then Imperial Life, which led to the creation of DFS in 2002. The new company, which oversees the financial security of some 5 million Canadians, is now a major player in the Canadian life and health insurance industry.
Highlights
1948: Foundation of Desjardins Life Assurance.
1952: First pension and group insurance plans for Desjardins Group employees.
1953: Creation of family insurance.
1954: Launch of savings-life insurance and loan insurance.
1955: Introduction of first group insurance plans outside the caisse network.
1958: Launch of accident insurance for school children (named Accirance in 1968).
1962: Acquisition of La Sauvegarde.
1978: Launch of Assurance populaire Desjardins.
1989: Acquisition of Laurier Life Insurance.
1990: Merger of Desjardins Life Assurance and La Sauvegarde.
1992: Acquisition of individual, group and accident insurance portfolios from Les Coopérants.
1994: Integration of the life and health insurance portfolio of the Laurentian Group and its subsidiary Imperial Life.
1994: Desjardins Life Assurance becomes Desjardins-Laurentian Life Assurance.
1995: Acquisition of Æterna-Life Insurance Company.
2000: Merger of Desjardins-Laurentian Life Assurance and the Laurentian Life and Health Insurance Corporation.
2001: Merger of Desjardins-Laurentian Life Assurance and Imperial Life.
2002: Creation of Desjardins Financial Security.
2006: Acquisition of Performa Financial Group
2007: Creation of Desjardins Financial Security Investments inc. (Brokerage subsidiary)
Companies and Portfolios Acquired or Merged Since 1948
- La Prospérité
- La Sauvegarde
- Laurier Life Insurance
- Annuity Life Insurance
- Compagnon Assurance Voyage
- Les Coopérants
- Mutuelle-Vie de l'UCC (individual, accident and group insurance portfolios)
- La Société des Artisans canadiens-français
- L'Union Saint-Joseph à Saint-Sauveur de Québec
- L'Union Saint-Joseph de Lachine
- L'Union Saint-Pierre
- Laurentian Life
- L'Union du Commerce
- La Prévoyance Compagnie d'assurance
- Les Prévoyants du Canada
- La Stabilité
- Imperial Life Financial Services
- Æterna-Life Insurance Company
- Centre d'autorisation et de paiement des services de santé (CAPSS)
- Laurentian Life and Health Insurance Corporation
- Performa Financial Group
