Financial Results
Organization and Structure
Products and Services
New Contracts
Awards and Honours
Miscellaneous
Growth, profitability and job creation mark Desjardins Financial Security's first fiscal year
Levis, April 18, 2002 - Desjardins Financial Security ended 2001 on several high notes: strong growth of 53% in group insurance sales and 10% in individual insurance sales, a 4% increase in net income and the creation of 306 new jobs.
"We are all the more proud that the successes of all our sectors of activity were achieved in the midst of the merger of Desjardins-Laurentian Life Assurance and The Imperial Life Assurance Company of Canada. Our new company now provides financial security to some five million Canadians and ranks eighth among life and health insurers in Canada in terms of written premiums," said François Joly, President and Chief Operating Officer of Desjardins Financial Security at the Annual General Meeting held today.
Achievements in 2001
The significant 53% increase in group insurance sales is due notably to competitive and profitable rates and a growing reputation for providing quality customer service. Profits in this sector increased by 21% over the previous year. Profits from the sale of group annuity products followed the same trend, with an increase of over 45%. The quality of investments and various changes having a fiscal impact were contributing factors in this result.
For its part, the individual insurance sector had a growth rate of over 10% compared with last year.
With a complete range of insurance services to choose from, Desjardins caisse members took out some 1,100 insurance contracts per month. The demand is increasing since the average was 1,600 for the first three months of 2002. To meet the demand, Desjardins Financial Security intends to increase the number of financial security advisors in caisses from 250 to 400 by the end of 2002.
The 2001 fiscal year ended with the creation of 306 new jobs, 212 of which are permanent. Added to the 200 or so jobs created in 2000, these new jobs raise the total (of new employees) to over 500 in two years. This wave of recruiting will continue into 2002, notably with the hiring of financial security advisors.
To foster growth in its various sectors of activity, Desjardins Financial Security strengthened its position in the Canadian group insurance and annuities sectors, primarily by focusing sales efforts in Ontario and the Maritime Provinces on small and large markets and by setting up regional sales branches in the Western Provinces. Among other things, the company made agreements with fourteen distributors of financial products throughout Canada. These agreements specifically involve Millennia III and certain savings and insurance products, like Solo, Strategic Index Plus and Index Plus Tactic.
Financial Results for 2001
Results for 2001 and figures for the previous fiscal year include data for DLLA and Imperial Life. They are presented as though the two companies always conducted their business as a single entity.
- Net income increased by 3.8% compared to 2000, going from $69.3 million to
$72.0 million. The portion of the result that is attributable to shareholders increased by 9.8%, up from $61.5 million to $67.6 million. This result represents an 11.1% return on shareholder's equity, the same as the previous fiscal year.
- Premiums for the fiscal year reached an overall total of $1,612 million. Compared with $1,563 million in 2000, this figure represents an increase of $49.1 million.
- In 2001, Desjardins Financial Security paid close to $1.5 billion in insurance and annuity benefits, dividends and refunds to its insureds.
- Insurance and annuity benefits totalled $1.4 billion in 2001, compared with $1.5 billion in 2000.
- Dividends and refunds totalled over $58.6 million. Participating policyholders will receive $21.3 million in dividends. Policyholders whose group contracts contain an experience refund clause received $37.4 million in refunds.
- General funds assets totalled close to $8.8 billion at the end of the fiscal year, compared with $8.5 billion in 2000.
- The company's in-force business, that is, the value of its financial commitments under its life insurance contracts, stood at almost $117.5 billion at the end of the fiscal year.
Specializing in life and health insurance and retirement savings products, Desjardins Financial Security is a company on which over 5 million Canadians count every day for their financial security. A member of the Desjardins Group, Desjardins Financial Security has offices in several cities across the country including Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec, Levis, Halifax and St-John's.
New Canadian Life and Health Insurance Company
Desjardins Financial Security Now Providing Financial Security for
5 Million Canadians
Lévis, January 18, 2002 - Since the beginning of 2002, in the wake of the consolidation of the insurance industry, Desjardins Financial Security has taken over from The Imperial Life Assurance Company of Canada (Imperial Life) and Desjardins-Laurentian Life Assurance Company Inc. (DLLA), thereby providing financial security for 5 million Canadians. Begun in March 2001, the merger of the two member companies of the Desjardins group of companies is now completed, creating the 8th largest life and health insurance company in Canada in terms of written premiums.
"The merger of DLLA and Imperial Life is in keeping with the ongoing consolidation ot the financial services industry," said François Joly, President and Chief Operating Officer of Desjardins Financial Security. "In the life and health insurance sector, more specifically, we can expect this trend to increase; the 'race to the altar' has already begun and all the key industry players are potential suitors."
Major Industry Trends
"Six trends will govern the future of financial services in Canada over the next few years," said Mr. Joly. "Initially there are intrinsic industry changes: demutualization, consolidation and the arrival of new players, followed by developments in the regulatory authorities, technology and demographics," he continued.
- Demutualization: Further to their recent demutualization, the new capital stock companies might be tempted to fall into the trap of short-term thinking. This, a result of being forced to account for their performance, on a quarterly basis, to their stockholders who will demand returns comparable to those in other sectors of the financial industry.
- Consolidation: With 127 active companies in Canada, the insurance sector is already highly congested. That said, it is important to note that the total market share of the top ten insurers varies between 65% to 85%, depending on the sector. Critical mass then becomes an issue for the smaller companies and makes consolidation desirable, if not more inevitable.
- New competition: General insurers, banks, credit unions and direct networks are competing more and more with life and health insurers to attract and, above all, retain customers. Customers who are willing to deal with new service providers provided they get quality products and services at a competitive price.
- Developments in the regulatory authorities: The most recent legislative reforms, such as the act governing financial sector reform (Bill C-8) on a national scale and the Act respecting the distribution of financial products and services (Bill 188) in Quebec, will lead to greater openness and development opportunities for financial institutions. However, they will also result in increased monitoring of these institutions.
- Technological developments: E-commerce opens up a world of new business opportunities to insurers. New technology provides an opportunity of having a better understanding of clients' needs and customizing a service offer. We estimate that technology expenditures by insurers will increase by approximately 90% over the next three years.
- Demographic developments: The ageing population and increased cost of health care will force society to make choices. There will certainly be room for enhanced partnerships between the public and private sectors. Presently, the legislative framework allows a certain amount of room for the private sector to expand in areas where the demand is expected to experience average to strong growth over the next two decades. A shift to the private sector seems especially likely in the areas of homecare and support services, seniors' residences, non-essential surgery and elective care associated with lifestyle choices.
"There is a tough battle looming over the next few years," concluded Mr. Joly. "Those companies who survive will be the ones who succeed in being innovative, remaining flexible and taking advantage of all the business opportunities that arise. The survivors will be those who focus their efforts on the customer and meeting his or her needs. And, it is in this spirit that Desjardins Financial Security offers its complete range of products (individual and group insurance plus investment) that are available through distribution networks that include: Laurentian Financial Services, its online provider Finactive, Managing General Agencies, independent brokers and other selected financial institutions."
Desjardins Financial Security's mission is to help its customers attain financial security through a judicious combination of life and health insurance in order to guard against the financial risks of accidents, illness or death and investment products. Desjardins Financial Security has offices cross the country, including Halifax, Levis, Quebec City, Montreal, Ottawa, Toronto, Winnipeg, Calgary and Vancouver.
Four New Products
Desjardins Financial Security Wants to Make Its Mark in Individual Life and Health Insurance in Canada
Levis, June 10th, 2002 - At the beginning of the year, Desjardins-Laurentian Life Assurance and The Imperial Life Assurance Company of Canada merged to form Desjardins Financial Security. Today, Desjardins Financial Security is launching four new innovative products. Three of the products: Solo Health, Family Advantage and MAXLife, are geared towards a large customer base. The fourth, Wealth Builder, is aimed specifically at higher income clients seeking new wealth accumulation strategies (see file illustration).
"Desjardins Financial Security wishes to make its mark within the individual insurance market in Canada. Two of the keys to its success will be innovation and flexibility," said Alain Bédard, Executive Vice-President, Individual Network and Segregated Funds.
Innovation and Flexibility
Solo Health offers multiple health coverage: supplementary health benefits, vision care, medical insurance, dental care, critical Illness, etc. It is designed for self-employed individuals, small business owners and employees, and all other employees not covered by group insurance plans.
Its originality can be found in its flexibility. Insureds choose from among four separate groups of core health benefits, depending on their needs and the level of protection they want.
"Only Quebec carries a universal medical insurance plan," explained Mr. Bédard. "Half of self-employed workers or part-time/contract employees in Canada (except Quebec) do not have any dental or medical coverage. Solo Health will be a popular choice among all Canadians as it responds to a significant need."
Family Advantage, another new package of insurance benefits, sets itself apart by its originality and accessibility. The 3 insurance choices in the contract provide a complete package of short and long-term financial security in the event of death. Family Advantage provides coverage that is perfectly adapted to the financial security responsibilities of families and their dependents.
MAXLife carries a level, guaranteed premium that lets insureds fulfill their long-term coverage objectives. The new Wealth Builder plan provides for enhanced tax-deferred accumulation of wealth under a universal life policy.
Throughout Canada
All of these new products are offered by the partners of the LFS Financial Services Network and more than 1,000 independent brokers/Managing General Agencies across Canada.
Desjardins Financial Security specializes in life and health insurance including retirement savings products. Over 5 million Canadians count on Desjardins Financial Security every day for their financial security needs. A member of the Desjardins Group, Desjardins Financial Security has offices in all major cities across the country, including Vancouver, Calgary, Edmonton, Regina, Saskatoon, Winnipeg, Toronto, Hamilton, Ottawa, Montreal, Quebec City, Lévis, Halifax and St. John's.
Supplement CP02- 16a
Family Advantage
Type:
Individual multi-benefit life insurance featuring 3 distinct coverage options
Coverage: Life: T-100 for basic needs (short-term debts, final expenses). Debt relief: T-20 insurance decreasing to 65% after 10 years (long-term debt). Guaranteed income: monthly income annuity (replaces lost income, covers on-going expenses). Other benefits: accidental fracture, waiver of premiums in case of loss of employment (6 months), premium reduction if insured takes out more than one benefit.
Buyers:
Families and couples, with or without dependents
Particulars:
Provides a great cost/benefit ratio because it meets the specific short and long-term needs of each family.
Solo Health
Type:
Individual health insurance
Coverage:
Supplementary hospital, drug (outside Quebec), dental and vision care, accident (death and dismemberment) and critical illness (18 critical illnesses)
Buyers:
Self-employed individuals, small business employees and all other employees not covered by a group insurance plan.
Particulars:
Four different groups and levels of coverage. Very flexible.
MAXLife
Type:
Permanent life insurance
Coverage:
Up to age 100. Level premiums guaranteed for life
Buyers:
Families or individuals looking for long-term coverage at a low cost
Particulars:
Integrated into Pace universal life policy or available stand-alone, as a traditional insurance product. Optional accidental fracture coverage.
Wealth Builder
Type:
Savings optimizer
Coverage:
Encourages tax-sheltered growth of the accumulation fund.
Buyers:
Wealthy people
Particulars:
Integrated into universal life insurance. Insured chooses the term. Minimum $500,000, decreasing after 3 years. Policies types: individual, joint first to die (up to 5 lives insured), joint last to die, or joint last to die paid-up at 1st death. Client's authorization is required each year before applying decrease.
Securing Your Home and Future With Finactive and NHBN
Finactive Latest Sponsor of New Home Buyers Network
Toronto, April 8, 2002 - New Home Buyers Network (NHBN), Canada's leading network of search engines for online marketing and advertising of new homes and condominiums, has signed an agreement with Finactive, a division of Desjardins Financial Security Life Assurance Company. The NHBN-Finactive agreement allows NHBN to broaden an already extensive assortment of home buyer services featured on its popular web sites. Home buyers visiting NHBN sites will have quick and convenient access to Finactive services.
Under the terms of this sponsorship, NHBN will promote and provide continuous brand identification of the Finactive products and services to its extensive client base of home buyers. The Finactive name, logo and link to its Website will appear throughout all the NHBN websites and mainstream print advertising. The websites will promote Finactive's information on their home pages, financial sections, home services sections and the new home email information areas. Finactive will also be participating in the up-coming free new home buyers evening seminar in Toronto on April 18th, 2002 at the Northern District Library. In addition, Finactive is making a unique offer to new home buyers. A special rate of 3% for a
6 month GIC is offered for a limited time period. This GIC can be cashed without penalty before the end of the term if it is to buy a home.
Finactive clients control their own financial planning via the Internet. Finactive offers helpful advice together with a wide range of products that cover client investment, taxation, and personal protection requirements. Clients control the entire process in a safe, secure environment, and if they need personalized assistance, more information on the financial solutions available, help with navigating the Website or completing a transaction, Finactive salaried advisors are available to offer their expertise. Whether clients contact them by phone, fax, e-mail, regular mail, or in person, they can always expect complete and reliable assistance.
"The benefit of strategically aligning with companies that provide the best services for home purchasers, like Finactive, is that it allows us to offer the most comprehensive information about buying new homes," says Rene DeSantis, NHBN CEO. "This is a recognizable benefit for both the NHBN and our consumers."
"Buying a new home can lead to many financial planning issues. At Finactive, we believe in providing consumers with the education, advice and products new homeowners need to achieve their financial goals. Thanks to this partnership, it is now easier for Finactive to give new home buyers access to our asset management and protection expertise.'' says Aviva Shiff, Director of Sales at Finactive.
About New Home Buyers Network Inc.
NHBN is a multi-faceted resource to help potential home buyers find an array of new homes in Canada easily and instantaneously via the Internet. The search for a home can be narrowed by specific location, type of home and price range. The NHBN Website then generates a customized list of new home or condominium communities that meet the specified criteria.
NHBN consists of seven regional Websites, which includes The Toronto Star's newinhomes.com, The Hamilton Spectator's specnewhomes.com, The Guelph Mercury's mercurynewhomes.com, Kitchener-Waterloo's The Record recordnewhomes.com, The Cambridge Reporter's reporternewhomes.com and the BC Newspaper Group's bcnewhomes.com. These sites are prominently featured as the source for new homes on other major Websites such as thestar.com, toronto.com and 14 local papers' sites from the BC Newspaper Group. Plans are underway for expansion throughout the rest of Canada, the U.S. and abroad.
Finactive
Finactive, a virtual distribution network of financial products and services, is a division of Desjardins Financial Security Life Assurance Company. More than 5 million Canadians from coast to coast rely on Desjardins Financial Security to protect and grow their capital through a judicious combination of life and health insurance and investment products. A member of the Desjardins group of companies, the 6th largest Canadian financial institution with more than $80 billion in assets, Desjardins Financial Security has offices in Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Lévis, Halifax and St. John's.
Travel Assistance and Business Concierge Services
Sigma Assistel Becomes Provider for CIBC's New entourage Credit Cards
Montreal, Feb. 19, 2002 - According to the terms of an agreement signed recently, Sigma Assistel has become the provider of Travel Assistance and Business Concierge Services for two of the new CIBC entourage American Express cards issued by CIBC.
"Research indicates that our customers really value the type of assistance services offered on our new line of entourage credit cards, said Cheryl Longo, Senior Vice President, CIBC Card Products Division. These services give our cards added value, making them stand out from the rest in a very competitive market."
Travel Assistance Service is available to entourage Business and entourage Smart Chip cardholders. Wherever they may be in the world, these cardholders can arrange to receive forgotten documents from home or the office, have prescriptions filled, find lost luggage or send messages.
In addition, CIBC entourage Business cardholders benefit from the Business Concierge Service, which provides them with a wide array of services that make business travel easier. Services include information on cultural customs and weather; business hours; hotel, restaurant, conference room and golf course reservations; access to entertainment and special events; forwarding of documents in the event of loss or theft, etc.
"This service agreement with CIBC a major player with widespread financial services will increase our presence across Canada," said Louise Des Ormeaux, General Manager, Sigma Assistel.
CIBC launched its new line of entourage American Express cards on Jan. 9, 2002. This credit card line includes the first smart chip credit card available nationally in Canada, as well as the business card and an exclusive Platinum offer. CIBC is the first Canadian bank to issue American Express credit cards in Canada.
CIBC is Canada's leading credit card issuer and offers a broad range of choice and value. One of the largest financial institutions in North America, the CIBC provides a complete range of products and services to some eight million individual customers.
One of the largest assistance companies in Canada, Sigma Assistel has been providing expert travel assistance and a wide range of other assistance services for some fifteen years from its call centre in Montreal.
A turn-key solution for dynamic investors
Two new Millennia III Portfolios of Funds
Montreal, February 6, 2002 - January 2002 marked another new addition to the Millennia III family of segregated funds. Investors looking for a turn-key solution to worry-free investing that takes advantage of the benefits offered by multi-management now have two portfolios of funds: the Maestral Dynamic Portfolio of Funds, and the Millennia III Ultimate Portfolio of Equity Funds.
"The two new Millennia III Portfolios of Funds offer the advantages of diversification according to sector, geographic area, capitalization and asset category," indicated François Bourdon, Director, Sales Strategies, Savings Products and Segregated Funds Development. "But they also offer another major advantage: the multi-management approach. By combining fund managers with complementary approaches, returns are maximized and volatility reduced."
The two new Portfolios of Funds are designed for investors who fit the dynamic profile - those able to tolerate a fair amount of volatility. "According to a fundamental principle of finance," explained Julie L'Heureux, an advisor with the Sales Strategies, Savings Products sector, "the return is your reward for exposing yourself to a risk. The more risky an investment, the greater its return potential. Each Millennia III Fund has its own distinctive risk-return ratio."
The Maestral Dynamic Portfolio of Funds combines all the investments the less cautious investor needs to benefit from Canadian and world market growth. The portfolio is managed by seven external sub-advisors with complementary styles who are actually the portfolio managers for the Maestral Funds offered by Desjardins Trust, including Elantis Investments, CDP World Management and Barclays Global Investors.
The Millennia III Ultimate Portfolio of Equity Funds is designed for investors who are able to tolerate strong fluctuations in the value of their portfolio. As a result, its return potential is higher than the Maestral Dynamic Portfolio of Funds. It combines twelve Millennia III equity funds managed by the five fund managers selected by Millennia III, namely Bissett Investment Management, Elantis Investments, Maestral Funds, McLean Budden and TAL. Investors also benefit from the expertise of several sub-advisors known for their work with the Maestral Funds.
With these two new portfolios, investors now have five Millennia III Portfolios of Funds to choose from. There are twenty-three other funds available, ranging from the Money Market Fund (Elantis) for the more conservative investor, to the Bissett Small Cap Fund for the more adventurous investor.
The only contract of its kind in Canada
The New Era contract automatically protects against inflation. Better yet, it guarantees the best capital preservation by automatically resetting the guaranteed amount each year. The new guaranteed value is the higher of the inflation-adjusted value, the market value or the guaranteed value at the last reset. The unique New Age contract, one of a kind in Canada, also protects against extreme circumstances at different stages of the contract.
Millennia III segregated funds are established by Desjardins Financial Security Life Assurance Company and offered across Canada by Laurentian Financial Services (Services financiers La Laurentienne in Quebec), various Managing General Agents, independent insurance brokers, online provider Finactive and the Desjardins caisses network.
Desjardins Financial Security is the new company created by the merger of The Imperial Life Assurance Company of Canada and Desjardins-Laurentian Life Assurance. Over 5 million people from coast to coast in Canada rely on Desjardins Financial Security to protect and grow their capital. A member of the Desjardins group of companies, the 6th largest Canadian financial institution with over $80 billion in assets, Desjardins Financial Security has offices in Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Lévis, Halifax and
St. John's.
Desjardins Financial Security Clinches Two New Group Insurance Contracts Worth $8.5 Million
Toronto, December 11, 2002 - Desjardins Financial Security secures two new group insurance contracts. One insures group health and dental coverage to the 4,000 members of Federation of Medical Specialists of Quebec. The second contract provides group insurance for
2,000 members of Ordre des ingénieurs du Québec. The contracts represent $8.5 million in premiums and are to take effect on January 1, 2003.
"Desjardins Financial Security's expertise in administering insurance contracts for associations was a clinching factor in both cases," said André Simard, vice-president of Sales for Desjardins Financial Security's Group Network. Other associations currently insured with Desjardins Financial Security include Canadian Bar Association, The Chambers Insurance Corporation of Canada and Chambre des notaires du Québec.
The Group Insurance sector experienced considerable growth in the last year, and Desjardins Financial Security continues to add to its roster of large groups. By the third quarter in 2002, group insurance sales totalled $111.4 million, up 46% from 2001.
Desjardins Financial Security's Group Network
Desjardins Financial Security's Group Network offers a competitive range of group insurance and retirement savings products and services distributed throughout Canada through its network of intermediaries.
Desjardins Financial Security
Specializing in life and health insurance and retirement savings products, Desjardins Financial Security is a company upon whom over five million Canadians rely each day for their financial security. Desjardins Financial Security is part of the Desjardins Group, with branches in Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Levis, Halifax and St-John's.
Desjardins Financial Security Selected to Insure Concordia University's 3,000 Employees
Levis, September 17, 2002 - Desjardins Financial Security was recently awarded the group insurance contract to cover Concordia University's 3,000 employees. As of September 1, the contract covers the university's some 600 teaching assistants, and will provide coverage for the university's entire staff as of January 1, 2003. The contract represents an annual volume of premiums of some $4 million.
"Concordia's management wanted an insurer that could adequately administer the special features of their plan, which is complex," says André Simard, Vice-President of Sales for the Group Network's insurance division in Quebec. The contract, signed on January 1, 2002, between DFS and the City of Montreal, which covers some 11,000 city employees, helped because it demonstrated that we could meet Concordia's requirements."
DFS's excellent reputation in the market and its ability to provide quality service to Concordia's employees in their language of preference were also deciding factors. Moreover, since September 1, DFS has covered CGI's 9,000 insured employees across Canada.
Concordia is a major English university in Montreal with two campuses: Sir George Williams Campus located right downtown and Loyola Campus in NDG in the city's west end.
About Desjardins Financial Security
Desjardins Financial Security is a company specializing in life and health insurance and retirement savings. Over 5 million Canadians rely on DFS each day for their financial security. A member of the Desjardins Group, Desjardins Financial Security has offices in several cities across the country, including Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Levis, Halifax and St-John's.
New $22 Million Contract
Desjardins Financial Security Insures CGI Employees Across Canada
Levis, July 23, 2002 - Desjardins Financial Security (DFS) has been selected to provide group insurance coverage to some 9,000 CGI Canadian employees. The group contract represents
$22 million in annual premiums and takes effect September 1, 2002.
"We are very proud to have been awarded such an important contract. With its broad Canadian scope, CGI is the latest in a list that includes the Canadian Bar Association and CHUM Ltd.," said DFS Chief Operating Officer, François Joly. "This contract underlines our determination to become more prominent in the Canadian insurance marketplace. We have years of experience handling large groups, and we intend to demonstrate this by giving CGI employees top quality service," he said.
Several factors contributed to obtaining this group insurance contract according to Alain Thauvette, DFS Executive Vice-President for the company's Group Network. "Among the reasons are our excellent reputation in the market and our ability to adequately serve CGI's employees in their own languages, from our call centres in Levis and Toronto," he said.
Founded in 1976, CGI is the fourth largest independent firm of information systems and management consultants in North America, with over 13,700 professionals on staff. CGI offers a complete range of information systems technology and business solutions for
over 3,000 customers around the world.
Desjardins Financial Security Brings Home a North American Grand Prize. DFS also wins three awards for excellence for various publications
Levis, June 26, 2002 - Desjardins Financial Security (DFS) won Best of Show yesterday in the consumer Website category of the Life Communicators Association (LCA) 2002 Awards for its Website. The LCA is an important North-American association of life insurance communicators. The judges were particularly impressed by the display of DFS products and services as well as by the calculators consumers can use to define their financial situation and financial security needs.
The Desjardins Financial Security Website proposes financial strategies for consumers based on their current lifestyles and priorities, as well as suggestions on how to deal with significant events, that may or may not be planned, and which might affect their lifestyle and financial circumstances (e.g. becoming a couple, losing a loved one, becoming disabled, going into business, etc.). Visitors to the site may consult experts on-line and ask questions about insurance, investment or taxes and complete the initial on-line steps towards purchasing products that are best suited to them.
Earlier this year, the Desjardins Financial Security Website was ranked seventh best consumer site in a list published by Commerce, a Quebec business magazine. Secor Conseil, Multiple-Media and Concepts S2i ranked 25 sites of companies whose head office is located in Quebec. Ranked second among financial institutions, DFS's Website distinguished itself by the quality of its content, high degree of personalization and user-friendliness.
Three other awards of excellence
Desjardins Financial Security also won three other awards for excellence at the LCA 2002 Awards for various publications:
- The information folder on the Milennia III Funds, on two new fund portfolios as well as one about the managers of these funds.
- Finactive's in-house production of advertising material for the sale of insurance on the Internet, targeting customers in the Toronto area aged 25 to 40. The Finactive site had already earned an award for excellence in the Web site category of the LCA 2000 Awards as well as for its 1st anniversary advertising campaign in 2001.
- The promotional material for the Spain 2002 Sales Conference held for the top producers of the LFS-SFL Financial Services networks and of the Desjardins Financial Security's Group Network.
The awards ceremony was held in Toronto yesterday, June 25, as part of LCA's and the Insurance Marketing Communications Association's first joint annual conference. The LCA has some 750 members from over 225 life and health insurance and financial services companies conducting business in North America.
The LCA Awards comprises 40 categories related to advertising, public relations, institutional communications and sales promotions. The members of the jury base their selections on design, writing, artistic production, efficiency and general presentation of the material.
Desjardins Financial Security is a company specialized in life and health insurance and retirement savings on which over 5 million Canadians rely each day for their financial security. A member of the Desjardins Group, Desjardins Financial Security has offices in several cities across the country, including Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Levis, Halifax and St-John's.
Desjardins Financial Security
Direct Distribution Centre wins a golden arrow award
Levis, June 19, 2002 - The Desjardins Financial Security Direct Distribution Centre took home the golden arrow award in the client contact centre, sales category, handed out by the Direct Marketing and Customer Relationship Association (DMCRA) at the 12th Golden Arrow Gala held at the Montreal Casino Cabaret on June 11, 2002.
The Desjardins Financial Security Direct Distribution Centre was selected over eight other financial product direct marketing centres. The members of the jury particularly liked the thoroughness and unique operating procedure of Desjardins Financial Security.
Located in Quebec City, the centre employs around 100 people, including 80 direct distribution agents. In operation for 17 years, its telemarketing procedures have enabled it to become a strategic tool for Desjardins Financial Security to market and promote financial products and services via various communication channels (telemarketing, direct mail and email).
The DMCRA is a non-profit organization affiliated with the Canadian Marketing Association. Its mission is to help develop and promote the industry in all its forms, encourage business networking and promote direct marketing professional training.
Desjardins Financial Security is a company specialized in life and health insurance and retirement savings on which over 5 million Canadians rely each day for their financial security. A member of the Desjardins Group, Desjardins Financial Security has offices in several cities across the country, including Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Levis, Halifax and St-John's.
2002 Mercuriades Competition
Desjardins Financial Security wins Special Bell Prize
Lévis, May 31, 2002 - Desjardins Financial Security was awarded the Special Bell Prize for its extranet WEBI, a true virtual office designed for some 825 Laurentian Financial Services and Services financiers SFL associates, and over 1,000 independent representatives across Canada. Presented on May 23rd at the Mercuriades Awards, the Special Bell Prize recognizes companies for their ability to use new information technologies to maximize their performance.
"We are extremely proud of this award. It's a tribute to the technical excellence at Desjardins Financial Security," announced François Joly, President and Chief Operating Officer. "For the company, it's a group success, largely due to the spirit of openness, innovation, and outstanding customer service of our employees."
Extranet WEBI
Launched in fall 2000, WEBI is Desjardins Financial Security's technical response to the challenge of meeting the needs of a sales force spread across Canada. WEBI provides access to a vast amount of up-to-date information about products, markets and competitors, rates of return, and a variety of industry-related news.
WEBI can also print client statements, its greatest value added feature according to representatives. Since May 27th, 2002, representatives also have access to an integrated statement, which provides detailed information about client mutual fund and annuity portfolios.
WEBI eliminates all delays associated with printing and delivering paper documents, and manages the many documents representatives use. WEBI also takes the place of the phone by giving representatives access to information anytime, quickly and efficiently. This exchange of information takes place in real time, rather than off line, which is the traditional method of communication.
Finalist in three other categories
WEBI was also a finalist for the E-commerce Award, and Desjardins Financial Security was nominated in two other categories:
- The Customer Service category for its innovative approach to offering life and health insurance in the caisses Desjardins in Quebec. With this unique approach, Desjardins Financial Security can meet the specific requirements of a clientele whose needs in this area had been unserviced until now. Caisse members have access to the advisory services of financial security advisors (representatives) assigned to the caisses by Desjardins Financial Security, and to a complete range of exclusive, flexible and adaptable coverages for themselves and their families.
- The Human Resources Development category for its in-house training school designed for the financial security advisors assigned to the caisses. This school (École Réseau Desjardins) supports the offer of life and health insurance in the caisses by developing the advisors' skills in the area of "AssurFinance". The effectiveness of these training programs is reflected in the high degree of satisfaction members have shown for the quality of the advice and the service offered.
Desjardins Financial Security specializes in life and health insurance and retirement services. Every day, over 5 million Canadians entrust their financial security to Desjardins Financial Security. A subsidiary of the Desjardins Group, Desjardins Financial Security has offices in several cities around the country, including Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec, Lévis, Halifax and St-John's.
Dawna Bonnici heads Group Insurance Sales in Prairies for Desjardins Financial Security
Toronto, August 14, 2002 - Dan Poole, vice president of Group Insurance Sales, Group Network for Desjardins Financial Security, announces the appointment of Dawna Bonnici as director of Group Insurance Sales for the Prairie region. In her role, Bonnici is responsible for developing and strengthening the company's position throughout the territory and she will report directly to Mr. Poole.
"Her strong initiative and commitment to customer service in group insurance sales during the past five years will help Desjardins Financial Security expand its operations in Canada's Prairie region," explains Poole. "We're pleased to have someone of Dawna's calibre as part of our team working out of the Winnipeg office."
Ms. Bonnici is actively involved in the Winnipeg community through her volunteer efforts with Child and Family Services and with Junior Achievement. She is also an active member in Toastmasters. Bonnici holds a Bachelor of Commerce (Honours) degree from the University of Manitoba and has completed the Group Benefits Associates industry course.
Desjardins Financial Security specializes in life and health insurance including retirement savings products. Over 5 million Canadians count on Desjardins Financial Security every day for their financial security needs. A member of the Desjardins Group, Desjardins Financial Security has offices in all major cities across the country, including Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Lévis, Halifax and St. John's.
Roch Morin is appointed Senior Director, Sales,
Group Retirement Services at Desjardins Financial Security
Montreal, March 15, 2002 - Mr. Roch Morin was recently appointed to the position of Senior Director, Sales, Group Retirement Services. As part of his duties, Mr. Morin will be responsible for the business development of retirement savings products and services in Canada. His primary mandate will be to promote the Company's services to employee benefit consulting firms and other market intermediaries.
Before his appointment, he was in charge of pension plan pricing and insured annuity product distribution.
Mr. Morin has a bachelor's degree from the Université de Montréal and is an Associate of the Society of Actuaries. He has accumulated 15 years of experience in the industry and began working for our Company in 1996.
Resulting from the merger of Desjardins-Laurentian Life Assurance and The Imperial Life Assurance Company, Desjardins Financial Security is a company specialized in life and health insurance and retirement savings on which more than 5 million Canadians rely each day for their financial security. Part of the Desjardins Group of companies, Desjardins Financial Security has offices in cities throughout the country.
www.desjardinsfinancialsecurity.com
Desjardins Financial Security Website Launch
Levis, February 14, 2002 - Desjardins Financial Security has launched a new Website. The recent (January 2002) merger of The Imperial Life Assurance Company of Canada and Desjardins-Laurentian Life Assurance dictated combining and revamping its two separate, former websites. The new site, which has three core components -Information, Calculators and Advisory Services & Products- is a unique and efficient tool for planning financial security.
"Our Website is a veritable information bank covering all aspects of financial security", states Constance Lemieux, Senior Vice President, Technology and E-Business. "Our interactive site enables visitors to determine their needs through easy-to-use, practical financial calculators, talking on-line to our insurance, investment and taxation experts, and selecting buying options best suited to each individual."
The three core components of the new Website:
A Personal Finance Information Bank
RRSP Centre ? Health Centre ? Media articles, tools and handy links for topics such as investments, savings, retirement, health, taxation and insurance ? Personal Insurance Guide ? Group Retirement Savings Plan Guide ? Frequently Asked Questions (FAQ's) ? A free (Spring 2002) monthly electronic newsletter ? Glossary of insurance and financial services industry terminology ? Free on-line consultation service with our experts about insurance, investment and taxation.
Tools and Suggestions
The Retirement Calculator (designed by Jacques Lussier, who holds a Doctorate in International Affairs) is one of the most comprehensive, practical calculators on the market. Investors can simulate the risk of a portfolio, better assess their risk tolerance and make informed decisions ? Seven other calculators are also available to help individuals assess all aspects of their financial situation: personal balance sheet, budget, investments, how much to put away for children's education, and evaluate personal or family needs in case of critical illness, disability or death ? Various financial strategies based on current lifestyles and priorities ? Specific suggestions when dealing with major planned or unplanned lifestyle events resulting in financial repercussions (e.g. no longer single, losing a loved one, disability, starting a business, etc.)
Products We Offer, Expert Advice and Buying Options
An overview of the various types of Desjardins Financial Security insurance and investment products ? Links to advisory services offered by Laurentian Financial Services advisors, Finactive representatives, group benefit representatives and caisses.
In addition to the three core components, there are sections targeted to specific users:
- Secure sections designed to meet individual and business client needs.
- Sections our business partners (associates of LFS, group benefit representatives, actuarial consultants, etc.) can access for product and service information, customer service or contacting our sales offices.
- A Corporate Information Section (structure, economic contributions, social involvement), and a Financial Information Section (financial results, ratings, financial strength).
- An "Employment Centre" listing current Desjardins Financial Security career opportunities (including partners and affiliates. Working Conditions, company policies and main areas of employment are also available.
- A Virtual Newsroom for media professionals that includes an archive of News Releases, executive biographies and recent speeches. There is also a list of Desjardins Financial Security spokesperson by subject: trends in the Financial Services and Life and Health industry, insurance and investment products, e-commerce, distribution networks, etc.
Help and Advice
Whether website visitors have comments, suggestions, questions, need more information on our Financial Calculators, or technical assistance, our qualified personnel can help them, or direct them to someone who can. Our information agents are on call Monday to Friday, 8 a.m. to
9 p.m. and Saturdays from 8:30 a.m. to 4:30 p.m. (Eastern Standard Time)
High Priority Security and Privacy
A major section of the new site is devoted to security and privacy. It describes steps we have taken to protect transmission of on-line information, personal protection on the Internet and how to surf our site while ensuring the security of personal information.
Desjardins Financial Security specializes in life and health insurance and investment. Five million Canadians rely on us every day for their financial security. Part of the Desjardins group of companies, the 6th largest Canadian financial institution with over $80 billion in assets Desjardins, Financial Security has offices in Vancouver, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Levis, Halifax and St. John's.
To simplify disability claims, general practitioners and insurance companies launch a single form for the attending physician's medical statement
Montreal, January 29 - The Quebec Federation of General Practitioners (QFGP) and the Regroupement des assureurs de personnes à charte du Québec (RACQ) recently reached an agreement on the use of a single form for the medical statements provided by attending physicians. The new form will be phased in starting mid-January 2002.
"This apparently minor change will considerably simplify the settlement of disability claims for our insureds in Quebec. Until now, insurers used their own forms, with their own terminology, questions and format," says François Joly, chairman of the board for RACQ and president and chief operating officer for Desjardins Financial Security.
"General practitioners fill out numerous medical statements for their clients each week. It can be quite a complicated process depending on the complexity of the form and the medical case. Now, not only will the same form be used by all RACQ insurers, it is also a lot simpler," says Dr. Hugues Bergeron, Director of Professional Affairs for QFGP.
Like the statements that are filled out by insureds and their employers (when necessary), the attending physician's medical statement serves to determine a person's eligibility fo