Financial Results
Organization and Structure
Products and Services
Awards and Honours
Surveys
Contest
Miscellaneous
Desjardins Financial Security still producing one of the best returns on shareholder’s equity in the financial services industry
2008 Third Quarter Financial Results
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Insurance premium volume up 10.3 per cent
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Group and business insurance premium volume up $146.5M
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Group retirement savings sales up $70.6M
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Individual savings sales up $46.9 million
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Return on shareholder’s equity of 20.6 per cent
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Net income of $112.0M despite worldwide financial crisis
Lévis, November 27, 2008 -- At the end of the first three quarters of 2008, Desjardins Financial Security’s net income was $112 million, compared to $166.4 million as at September 30, 2007. Like the majority of Canadian financial institutions, Desjardins Financial Security’s profitability for the nine-month period ended September 30, 2008, was impacted by the current worldwide financial crisis. Profitability for the period was also affected by the liquidity crunch on the non-bank asset-backed commercial paper (ABCP) market. The depreciation as at September 30, 2008, represents 29.6 per cent of the initial value of these investments.
Despite the turbulence on the financial markets, this Desjardins Group subsidiary and provider of life insurance, health insurance and retirement savings products and services, once again recorded significant growth in insurance premium income, which stood at $1,987 million, up 10.3 per cent over the first nine months of 2007 ($1,801.4 million). Insurance premium growth continued outside Quebec with cumulative premiums exceeding $108.1 million, or 19.6 per cent more than in 2007. In Quebec, insurance premiums grew by $77.5 million, or 6.2 per cent. Insurance sales stood at $140.7 million for the first three quarters of 2008, down $110 million from the same period last year. In 2007, group products had experienced strong growth with the addition of major groups located primarily outside Quebec.
The share of Desjardins Financial Security's net income payable to its primary shareholders, the Desjardins caisses, totalled $109.8 million. Return on shareholder’s equity was 20.6 per cent. While comparatively lower than in 2007, it remains one of the best in the industry. Assets under management and administration stood at $21.1 billion. Desjardins Financial Security’s regulatory capital ratio remains within the target range, allowing the Company to fully meet various capital adequacy requirements. Its capitalization continues to exceed regulators’ expectations despite recent upheavals on global financial markets.
2008 Third Quarter Results
For the period of July 1 to September 30, 2008, net income totalled $16.4 million compared to $48,2 million for the same period a year ago. The worldwide financial crisis, combined with the liquidity crunch, has negatively impacted the net income by close to $30 million. Insurance premium income for this period was $684.6 million, up 9.9 per cent compared to the third quarter of 2007.
Individual savings product sales, which totalled $72.9 million during the same period, remained strong due to the considerable demand for the new Helios guaranteed investment funds contract and its Guaranteed Minimum Withdrawal Benefit.
Ms. Monique F. Leroux, President and CEO of Desjardins Group and also CEO of Desjardins Financial Security, said she was satisfied with the subsidiary’s results since the beginning of the year. “Despite unfavourable market conditions and the financial crisis it has been dealing with for over a year, our life and health insurance subsidiary has continued to contribute to the profitability of Desjardins Group while maintaining a competitive return on shareholder’s equity on the Canadian market and its financial strength.”
Mr. Richard Fortier, President and COO of Desjardins Financial Security, recalling the Company’s development activities and growth efforts said, “Desjardins Financial Security is energetically pursuing its expansion across Canada and continually striving to achieve lofty objectives that will help the Company maintain its position of strength among the top competitors in the insurance market.”
Results by business segment
In group insurance, the volume of premiums from groups, businesses and plans offered in financial institutions, including the Desjardins caisses, stood at $1,623.9 million as at September 30, 2008, for an increase of $170.5 million, or 11.7 per cent over the same period a year earlier. Sales totalled $109.1 million.
In individual insurance, premium volume in the first nine months of 2008 totalled $363.1 million, reflecting a $15.1 million improvement over September 30, 2007. Total sales recorded by the financial security advisors assigned to the Desjardins caisses and by the network of SFL and Desjardins Financial Security Independent Network financial centres stood at $31.6 million, for a $2.0 million increase over those recorded in the same period a year earlier.
In savings, overall sales totalled $848.4 million. Total group retirement savings sales stood at $213.5 million, for a $70.6 million increase, while individual sales were $239.9 million, up $46.9 million over the same period in 2007.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs some 3,900 people and administers over $21 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Waking up to a new retirement reality
Recent market downturn brings Canadians to rethink retirement goals and savings plans
Toronto, November 20, 2008 -- Canadians over forty are taking a more conservative approach to retirement planning due to the recent financial turmoil, according to the annual Desjardins Financial Security Rethink Retirement survey. According to the survey, Canadians are willing to make compromises to save for retirement and are being more selective about where they place their hard-earned retirement savings. This is in sharp contrast to previous survey results, which indicated that most Canadians were confident in their financial goals for retirement, regardless of market volatility.
Conducted between June and August 2008, the initial survey found that the majority of Canadians felt confident about their financial security and retirement plans. In October, after the recent market fluctuations, Desjardins conducted a follow-up poll. Results indicated that 42 per cent of Canadians over forty would postpone their retirement by an average of 5.9 years. This was particularly true for more women (50 per cent) than men (36 per cent).
“The recent market instability may be the wake-up call that Canadians needed to step up their retirement strategy,” said Michael Aziz, Vice-President, Sales and Business Development, Individual Savings Products at Desjardins Financial Security. “As advisors, we try to paint an accurate picture of what they may face financially in 20 to 25 years when they are ready to retire. It's important to prepare investors for the unknown, especially how to cope with difficult market conditions.”
The survey conducted between June and August asked Canadians what they would be willing to do to increase their retirement savings. They said they would:
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Postpone a major purchase or expense to avoid financing or using credit (83 per cent)
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Take less expensive vacations (77 per cent)
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Bring lunch from home rather than buying it or eating at a restaurant (69 per cent)
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Significantly reduce car use, and consequently gas consumption (68 per cent)
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Reduce spending on sports or cultural activities (62 per cent)
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Get rid of the household’s second car (58 per cent)
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Reduce spending on activities for children (35 per cent)
The survey in October asked questions to measure whether Canadians were becoming more cautious about their financial decisions. Canadians over forty said the following considerations would be very important to them when selecting savings and investment vehicles over the next year:
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Financial strength of their institution (47 per cent)
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Returns on the capital invested (40 per cent)
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Quality of advice received (39 per cent)
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Guarantee on the capital invested (48 per cent)
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More consideration to their personal and financial needs (49 per cent)
“Canadians over forty are not in a state of panic, but seem to be finally paying attention to what the financial services industry has been trying to get across for many years,” said Aziz. “Yes, most Canadians will be able to retire one day, but they are going to have to plan and work towards that goal. And part of this work will include the careful selection of their financial institution.”
For more information about the survey, please visit: www.rethinkretirement.ca.
About the Survey
SOM Surveys, Opinion Polls and Marketing conducted the survey on behalf of Desjardins Financial Security between June 26 and August 12, 2008. In total, 2,217 interviews were conducted with a representative sample of Canadian adults. The sampling plan provides proportional estimates with a maximum margin of error of plus or minus 2.4 per cent at a 95 per cent confidence level (19 times out of 20). The data was statistically weighted to accurately reflect the composition of Canadians by region, gender and age based on Statistics Canada's 2006 Census information.
SOM Surveys, Opinion Polls and Marketing conducted another survey on behalf of Desjardins Financial Security between October 21 and 23, 2008. In total, 1,150 interviews were conducted with a representative sample of Canadian adults. The sampling plan provides proportional estimates with a maximum margin of error of plus or minus 1.4 per cent at a 95 per cent confidence level (19 times out of 20). The data was statistically weighted to accurately reflect the composition of Canadians by region, gender and age based on Statistics Canada's 2006 Census information.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs nearly 3,900 people and administers over $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Helios ahead of the curve with its Guaranteed Lifetime Withdrawal Benefit
Montréal, October 23, 2008 -- Desjardins Financial Security announced three new features to its Helios Guaranteed Investment Funds Contract today that will help Canadians reach their retirement objectives more easily. Starting on December 1, 2008, this product will offer a Guaranteed Lifetime Withdrawal Benefit providing age-based income options, an annual protected value reset and the highest accumulation bonus in Canada.
A flexible Guaranteed Lifetime Withdrawal Benefit to offset the longevity risk
Desjardins Financial Security's recent Rethink Retirement—2008 survey showed that one in two Canadians is afraid of outliving their savings. With the life expectancy of Canadians on the rise, many more retirees are likely to find themselves in the same boat one day, concerned about depleting their capital.
The Helios Contract's Guaranteed Lifetime Withdrawal Benefit (GLWB) will pay a guaranteed and predictable income for life, based on the age at which the first withdrawal is made. This means that investors can choose when to start making withdrawals, based on the age they think will be best for them while aiming to maximize the guaranteed income they would like to receive. The GLWB can be added to the Helios Contract and can start as early as age 45.
Sprinting towards the retirement finish line with a 7% bonus
To help investors reach the finish line a little faster, DFS has also introduced a bonus, which is available both with the Helios GLWB and the Guaranteed Minimum Withdrawal Benefit (GMWB). When one of these Optional Guarantees is selected, a 7% bonus will be added to the total amount used to calculate the investor's guaranteed retirement income every year for the first 10 years, provided no withdrawals are made. Helios is the only Canadian guaranteed investment funds Contract to offer such a generous bonus. With this bonus, the periodic income investors will receive at retirement will grow more quickly.
"We know that Canadians tend not to take a lot of interest in their investments until they start getting closer to retirement. We also know that the ten years prior to retirement are the riskiest in terms of savings. That's when investors have to limit their portfolios' risk exposure. The GLWB and the GMWB, along with the bonus, are a safe way to make up for lost time and to enjoy the best possible quality of life at retirement," says Claude Paré, Senior Director, Product Development and Marketing, Individual Savings, at Desjardins Financial Security.
Another first in Canada is that the GLWB and GMWB Protected Values are reset every year in which the markets perform well, unlike the standard for other comparable products in the country, which are only reset every three years. This gives clients more opportunities to lock in the Protected Value of their contracts at a higher amount.
Rethinking retirement in the current economic climate
"Today's economic environment, coupled with the uncertainty in the financial markets, is forcing Baby Boomers to redefine not only their savings strategies, but also the way they're thinking about their retirement years in general. Tools such as the GMWB, which continues to offer the highest income in Canada, the brand new GLWB, and the bonus, not to mention the Helios contract's exclusive reimbursement of fees, will help them get a head start on their retirement goals," concluded Mr. Paré.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs nearly 3,900 people and administers over $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Desjardins Financial Security to help Canadians save with the TFSA
Toronto, September 24, 2008 -- Starting on January 1, 2009, Desjardins Financial Security will offer group retirement savings plan sponsors the possibility of setting up a Tax Free Savings Account (TFSA) as part of their group retirement savings plans.
The TFSA is being touted as the biggest change to the Canadian savings landscape since the RRSP. TFSAs will provide savers with more latitude in terms of how their savings are managed, while, in the long term, also offering them better retirement conditions. What's more, when offered as part of a group retirement savings plan, they're a valuable tool for plan sponsors who want to recruit and retain talent.
"Employee benefits are an indispensable tool in the overall management of human resources for our clients," explains Éric Filion, Senior Director of Product Development and Marketing, Group Retirement Savings at Desjardins Financial Security. "We are extremely pleased to be able to enhance their employee offering with this new approach to retirement savings, starting on January 1, 2009."
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs nearly 3,900 people and administers over $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Desjardins Financial Security achieves unprecedented success in 2008 IFCA contest
Lévis, September 19, 2008 -- Desjardins Financial Security (DFS) had a record year in terms of the number of awards it won in the 2008 Insurance & Financial Communicators Association (IFCA) contest. IFCA has approximately 700 members from more than 225 life and health insurance and financial services companies across Canada and the U.S. For the fifth consecutive year, the Company received top honours in this contest, earning eight distinctions, including two Best of Show awards, four Awards of Excellence and two Honourable Mentions. We are also very proud of the fact that DFS won more awards in this year’s IFCA contest than any other Canadian company.
"Once again, we owe our success to the professionalism and creativity of our communications, marketing and advertising teams. Being recognized by the industry gives us enormous pride and pushes us to constantly improve, with superior-quality projects that support our business development objectives and also promote the Desjardins brand across Canada," said Daniel Roussel, Vice-President, Public Affairs and Communications. Last year, DFS earned six prizes in this contest.
Achievements that really impressed the judges!
Best of Show awards
The "Le vrai visage" campaign, which involved a microsite featuring a mosaic created with the faces of AssurFinance for Individuals employees to celebrate the business sector’s sale of 100,000 contracts, earned a Best of Show in the "Internally Developed Communications – Electronic" category.
The True Connaisseurs wine and cheese-themed information campaign aimed at Desjardins caisse employees who work with financial security advisors earned a Best of Show award in the "Sales Contests" category.
Awards of Excellence
"Cadeau au Fisc de moi," designed to create awareness about the tax consequences of death, was recognized in the "Magazine Insert" category.
The Outch.ca "integrated marketing campaign" for accident insurance caught the eye of the judges, thanks to its public relations activities targeting Montréal and Québec area media and workplaces.
The new Desjardins Financial Security Investments Inc. recruiting material stood out in the "Merger and Acquisition Materials" category.
The stress awareness campaign that DFS partnered with the Psychology Foundation of Canada on earned an award for its "Sponsorship Program."
Honourable mentions
The kickoff campaign for Helios, a guaranteed investment fund contract that offers innovative retirement planning solutions, received an Honourable Mention in the "Fund Information" category.
And last, but not least, the Health is Cool! website for plan members, which not only promotes health and wellness, but also features various group insurance products, earned an Honourable Mention in the "Company Website (Public/External)" category.
About the IFCA contest
IFCA is dedicated to the ongoing professional development of its members. This association's annual contest covers twelve categories related mainly to advertising, public relations, corporate communications and sales promotion in the field of insurance and financial services.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs nearly 3,900 people and administers over $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Desjardins Financial Security insurance premiums up substantially in first half of 2008
2008 Second Quarter Results
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Insurance premium volume growth of 10.7%
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Group and business insurance premiums up $97.5 million
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Individual savings sales increase by $24.5 million
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Net income of $95.6 million
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Return on shareholder equity of 24.2%
Lévis, August 27, 2008 – At the end of the first six months of 2008, Desjardins Financial Security’s net income stood at $95.6 million. The Desjardins Group subsidiary specializing in life and health insurance and retirement savings continues to post significant insurance premium income growth. It increased 10.7 per cent for a total of $1,243.6 million compared to $1,123.3 million in the first half of 2007. Driven by the company’s sustained development efforts over the past few years, this growth has been especially strong outside Quebec where it totalled $424.4 million for a 19.9 per cent increase. Insurance sales stood at $108.9 million.
The share of Desjardins Financial Security's net income payable to its Desjardins caisse shareholders totalled $90.0 million. Return on shareholder equity was 24.2 per cent and remains one of the best in the financial services industry. Assets under management and administration stood at $22.1 billion.
The restructuring of investments held in asset-backed commercial paper (ABCP) that started last April has permitted Desjardins Financial Security to maintain provisions at levels relatively comparable to those of March 31, 2008, and to contain losses in the last quarter, unlike the previous three consecutive quarters. Nonetheless, the deterioration in net income due to the ABCP situation during the first half of 2008 stood at $12.2 million.
2008 second quarter results
For the period of April 1 to June 30, 2008, net income was $59.3 million compared to $68.4 million in 2007. Insurance sales totalled $57.8 million versus $51.1 million for the first quarter of the year. In Quebec, gross insurance premiums rose by $25.6 million or 6.1 per cent over 2007. In the other provinces, gross insurance premiums increased to $30.5 million or 16.8 per cent, a substantial increase compared to the second quarter of 2007.
Investment product sales were especially good in the second quarter of 2008, totalling $49.9 million for an increase of $14.8 million over the same period last year. Strong demand for Helios, the new Guaranteed Investment Fund Contract and its Guaranteed Minimum Withdrawal Benefit, was largely responsible for this increase.
"Our life and health insurance subsidiary continues to perform well in all its different markets, particularly outside Quebec where insurance premium income is up by almost 20 per cent, resulting in one of the best returns on shareholder equity in the industry. Overall, it continues to contribute to the growth and profitability of Desjardins Group." said Ms. Monique Leroux, chair of the Board, president and CEO of Desjardins Group and also CEO of Desjardins Financial Security.
Mr. Richard Fortier, president and COO of Desjardins Financial Security, said he is satisfied with the company’s results since the beginning of the year. “Despite recent difficult economic conditions, Desjardins Financial Security continues to meet the growing needs of its clients and to gain more ground in an extremely competitive insurance market."
Sector results
As of June 30, 2008, the volume of gross premiums in group insurance from groups, businesses and plans sold in financial institutions, including the Desjardins caisses, stood at $1,062.7 million, for an increase of $114.5 million or 12.1 per cent over the same period last year. Sales totalled $88.2 million.
In individual insurance, sales recorded by the financial security advisors at the Desjardins caisses, the financial centre network of SFL Partner of Desjardins Financial Security and Desjardins Financial Security Independent Network totalled $20.7 million, which is comparable to June 2007. Gross premiums were $239.7 million, for a $9.3 million improvement over last year.
Savings sales totalled $526.4 million and group retirement savings sales reached $67.3 million. As of June 30, 2008, individual savings sales amounted to $167.0 million for a $24.5 million increase over the first six months of 2007. Mutual fund sales stood at $292.1 million.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in individual and group life and health insurance, as well as retirement savings products and services. Every day, over 5 million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,900 people and administers over $22.0 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Survey says: Back-to-school need not be back-to-stress
Desjardins Financial Security’s National Health is Cool Survey shows parents are stressed by overloaded academic and family calendars
Toronto, August 25, 2008 – With only one weekend left in the summer holidays, parents are likely sharing their kids' anxiety leading up to the new school year. Desjardins Financial Security’s 2008 Health is Cool survey results show that parents experience added stress due to the social pressures of providing as much hands-on parenting as possible.
The majority of survey respondents with children said that they were generally enjoying good mental and physical health, financial security and an overall reduction in stress compared to the previous year. Despite this good news, many agreed that they do feel social pressure to raise exceptional kids (93.3 per cent). For some, this means doing as much possible so their children are the best among other children of the same age (84.8 per cent), to the extent that most suggested that parents do "too much" (81 per cent).
Overloaded family calendars are key stress triggers
This is particularly true of the majority of full-time working parents who agreed that their family calendars were overloaded. They also noted that meeting their children’s needs was a key stress trigger, second only to money concerns. Other stressors included family and work issues, and taking care of one’s health.
“It's natural for parents to make sacrifices to ensure that their kids get the very best," said Michele Nowski, director of disability income claims and disability management at Desjardins Financial Security. "But it becomes a problem when these sacrifices are detrimental to one's health. What tends to happen is that parents will put themselves last. This increases their stress and the likelihood that they will eventually become sick."
“The majority of all respondents, 83 per cent, said that they have gone to work sick or exhausted,” Michele Nowski explained. “In this case, parents did so to avoid having their work pile up and ensure that they would have enough time for their kids. But this sometimes leads to serious illness and longer periods of time away from family and work.”
Stop trying so hard—your kids are fine!
Dr. Steven Stein from the Psychology Foundation of Canada agreed that these results are not surprising. “Parents want to provide their kids with an enriched childhood full of opportunities and experiences. But let’s remember that school/life balance is just as important as work/life balance. Sometimes, the basic lessons of life taught at home are just as enriching, if not more so.”
So this year, mom and dad, take it easy. Think about your needs for a change and remember—your kids will be successful so long as you are happy and healthy, too!
About the Survey
SOM Surveys, Opinion Polls and Marketing conducted the survey on behalf of Desjardins Financial Security between February 7 and March 10, 2008. In total, 1,594 interviews were conducted with a representative sample of Canadian adults. The sampling plan provides proportional estimates with a maximum margin of error of plus or minus 2.6 per cent at a 95 per cent confidence level (19 times out of 20). The data was statistically weighted to accurately reflect the composition of Canadians by region, gender and age based on Statistics Canada's 2006 Census information.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products and services to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. The company employs over 3,900 people and administers more than $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Dean Bergeron is ready for Beijing, his last Paralympic Games
Record holder in the 200m and 400m wheelchair races
Lévis, August 21, 2008 – World record holder in the wheelchair 400m and 200m, Dean Bergeron will be representing Canada for the last time at the Beijing Paralympic Games, which will be held from September 6 to 17, 2008.
Before heading to Beijing, he will be training in Switzerland between August 25 and September 2. “These are my last Games so I want to go out on top,” says Bergeron, who will be taking part in four events: the 100m, 200m, 400m and 800m.
Ready to give it his all
“I’m totally ready for the Beijing games. I’m much better prepared than I was in 2004. It’s the little things that make all the difference,” says Bergeron, who is backed by a solid team that includes a nutritionist and a sports psychologist.
His main objective is to do his very best. “I want to race the way I’ve been racing in all my competitions this year. I want to race for myself. I’ll be happy whether I finish first, second or third,” says the athlete, who feels very confident on the heels of his success in recent months in Canada, the United States and Europe. In 2007, he beat his own world record in the 400m and set a new one in the 200m. In terms of performance, this competition has to be one of his most memorable. This past July 6, Dean finished first in the 100m, 200m and 400m, and second in the 800m at the “Meet in the Heat” wheelchair racing competition in Atlanta.
Eight medals at the Paralympic Games
Originally from Saguenay (La Baie) and now a resident of Québec City, Dean Bergeron has been accumulating some impressive credits since his athletic career began. In addition to participating in several world and Canadian championships, he also has eight medals from the Paralympic Games. He collected his biggest haul of medals at the Atlanta Paralympics in 1996, when he won gold in the 200m; silver in the 400m, 800m and 1500m; and bronze in the 100m. At the 2000 Sydney games, he won a bronze medal in the 200m and 400m. In 2004, at the Athens Paralympics, he brought home a bronze medal in the 800m.
Support from Desjardins Financial Security
Desjardins Financial Security, Dean’s employer and sponsor, has been supporting his efforts since 1995. Dean joined the company as an actuary in 1994. “Dean has done an incredible job of balancing his careers as an athlete and a financial services professional. With courage and determination, he has overcome obstacles as an actuary and an athlete, and emerged as one of the best. Dean is a great example of courage, perseverance and determination for his colleagues and the population in general,” says Richard Fortier, President and Chief Operating Officer of Desjardins Financial Security.
Internet site is dedicated to Dean Bergeron. His Beijing Paralympic Games schedules are shown and his performances will be released as soon as they are known. E-mails to Dean can be sent from that site.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products and services to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,900 people and administers over $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Sigma Assistel ISO 9001:2000 Certified
Press release issued by Sigma Assistel, a subsidiary of Desjardins Financial Security
Montréal, June 27, 2008 -- Canadian telephone assistance pioneer Sigma Assistel recently obtained ISO 9001:2000 certification. This makes Sigma Assistel the ISO-certified organization offering the most extensive range of assistance services in Canada.
This internationally recognized quality standard means that Sigma Assistel has successfully passed a stringent audit of its internal quality management system and can now join the ranks of the small number of assistance services companies that have obtained this certification in Canada.
This standard also involves the implementation of a process for ensuring continuous improvement since certified organizations must undergo regular audits of their quality management system to ensure that they continue to meet ISO requirements.
This certification demonstrates that Sigma Assistel is committed to offering its five million Canadian clients superior quality service at all times. According to Louise Des Ormeaux, General Manager of Sigma Assistel: "Service quality has always been very important to our employees. For us, obtaining this certification is simply recognition for the high quality standards we have always endeavoured to uphold."
About ISO 9001:2000 certification
ISO 9001:2000 certification refers to the issuing of written assurance (the certificate) by an independent, external body that has audited an organization's quality management system and verified that it conforms to the requirements specified in the standard. For more information about the ISO 9001:2000 standard, go to http://www.iso.org/.
About Sigma Assistel
Sigma Assistel, a Canadian leader in telephone assistance and a subsidiary of Desjardins Financial Security, serves more than 5 million Canadians. In the past few years, this company has recorded growth rates of approximately 20%. Striving to offer cost-competitive solutions to meet the needs of groups, businesses and organizations concerned about the well-being of their employees, members and clients, Sigma Assistel is committed to providing appropriate, high-quality assistance services - anytime and anywhere, no matter what the nature of the request. These services available 24/7 include Health Assistance, Legal Assistance, Home Assistance, Travel Assistance, Psychological Assistance, Roadside Assistance, as well as ID Theft and Restoration Assistance.
Attention entrepreneurs: this summer, give your Blackberry a vacation!
Desjardins Financial Security's National Health Survey advises entrepreneurs to take better care of their mental health
Toronto, June 17, 2008 -- As the longest day of the year approaches, Desjardins Financial Security's National Health Survey results show that more entrepreneurs should turn off their blackberries and make relaxation a priority this summer for the sake of their physical and mental health.
Entrepreneurs who participated in the survey were asked to rate their current level of financial security, mental and physical health, and their stress level compared to the previous year. Close to 92 per cent said they were financially sound and 77 per cent were in very good physical and mental health. However, when asked to comment on their stress level, 31 per cent said their stress had increased.
For Barb Sawyers, a single mom of two who has run a communication business for more than 15 years, juggling family and client demands are the key sources of her daily stress. "July and December used to be slow months, but not any more. In an electronically-connected, 24/7 world, there are no breaks," Sawyers said.
Her experience is not surprising given that 78 per cent of participating entrepreneurs said that they had gone to work sick or exhausted in the past. They had done so on average seven times in the last year, most often to meet business deadlines and out of a sense of personal duty.
"While it's understandable that entrepreneurs naturally feel responsible for their businesses, families and in some cases for their employees, it often has a toll on their physical and mental health," said Steven J. Stein, clinical psychologist and CEO of Multi-Health Systems. "As a business owner myself, I understand how easy it is to make work my primary focus. But it's important that while on vacation, everyone should turn off their Blackberries and enjoy themselves!"
Perceived link between stress and illnesses like depression
The perception of increased stress can also be related to future illnesses. When asked whether they felt that their lives would be touched by mental illnesses like depression, anxiety and burn out, the entrepreneurs whose stress level had decreased or had remained constant in the last year said no. However, among those entrepreneurs with increased stress, 42 per cent thought they might suffer from a major depression, 37 per cent from anxiety and 65 per cent from a burn out.
"It's critical to the success of my business that I build in mini-breaks and longer vacations," said Sawyers. "Not only does it relieve stress and provides family time, but it also clears the clutter out of my head, so I am much better at coming up with great ideas when I return. It’s win/win/win, for me, my children and my clients.”
Respondents seemed however willing to make significant compromises in order to improve their work-life balance. For example, when asked, 65 per cent of entrepreneurs would accept less pay for working fewer hours and 72 per cent would be willing to decline extra responsibility to maintain a viable work/life balance.
"Like all workers, entrepreneurs need to take control of their personal lives to remain in good physical and mental health. They also need to create healthy working conditions that promote a good work-life balance," said Marie-Josée Labelle, MBA, Marketing Communication, Director of AssurFinance for Individuals at Desjardins Financial Security. "Setting aside vacation time on their agendas to get it away from it all, including their Blackberries, is a must. Entrepreneurs deserve this kind of escape as much as anyone else does. It's the only way to cope with the special demands of their professional lives."
About the Survey
SOM Surveys, Opinion Polls and Marketing conducted the survey on behalf of Desjardins Financial Security between February 7 and March 10, 2008. In total, 1,594 interviews were conducted with a representative sample of Canadian adults. The sampling plan provides proportional estimates with a maximum margin of error of plus or minus 2.6 per cent at a 95 per cent confidence level (19 times out of 20). The data was statistically weighted to accurately reflect the composition of Canadians by region, gender and age based on Statistics Canada's 2006 Census information.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products and services to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. The company employs over 3,900 people and administers more than $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Desjardins Financial Security starts the year off with a solid financial performance
2008 First Quarter Results
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Insurance premiums up 11.7%
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Group and business insurance premiums up 15.9%
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Individual savings sales up 10.6%
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Net income of $36.3 million
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Return on shareholder equity of 21.5%
Lévis, May 27, 2008 – Desjardins Financial Security, a subsidiary of Desjardins Group specializing in life insurance, health insurance and retirement savings, announced net income of $36.3 million for the quarter ending March 31, 2008. Income from insurance premiums continued to grow and stood at $618.1 million for an 11.7% increase over the same period in 2007, when the Company reported net income of $553.4 million. Insurance sales totalled $51.1 million.
In the first quarter of 2008, the share of Desjardins Financial Security's net income attributable to the Company's ultimate shareholders, the Desjardins caisses, totalled $35.0 million. Shareholder equity was 21.5%, which remains one of the best results in the financial services industry. Assets under management and administration stood at $22.5 billion.
Like many other financial institutions across Canada, Desjardins Financial Security's results were affected by the turbulence and uncertainty on the financial markets. Investments in asset-backed commercial paper (ABCP) were written down to reflect the situation evolving on the markets. The resulting deterioration in net income for the first quarter of 2008 totalled $13.6 million. Excluding the impact of this deterioration, net income in the first quarter of 2008 would have been identical to the Company's results for the first three months of 2007.
Ms. Monique F. Leroux, Chair of the Board, President and CEO, Desjardins Group and CEO of Desjardins Financial Security, spoke highly of the contribution the Company makes to Desjardins Group. "With its consistent performance in Quebec and its impressive inroads in the other Canadian provinces right through the first quarter of 2008, Desjardins Financial Security stands as one of the pillars of the Canadian industry and contributes in a very tangible way to the reputation of Desjardins Group."
Mr. Richard Fortier, President and COO of Desjardins Financial Security, said that these positive results are directly related to Desjardins Group's strategic development activities. "Currently, we have several corporate projects aimed at accelerating Desjardins Financial Security's growth in the Canadian market. These projects will help us reach our development objectives in 2008, contributing in a significant way to the mid-term growth and profitability of the Desjardins Group."
Sector results
In group insurance, the volume of group and business insurance premiums stood at $392.8 million for the first three months of 2008, an improvement of $53.9 million over last year's results. Group and business insurance sales totalled $41.3 million.
In individual insurance, sales through the financial centre network of SFL Partner of Desjardins Financial Security, Desjardins Financial Security Independent Network and the Company's caisse-dedicated financial security advisors amounted to $9.8 million, up $0.5 million over the March 31, 2007 results, for a 5.4% improvement. Gross premiums were $120.2 million, an increase of $3.8 million over the same period last year.
In savings, overall sales totalled $312.1 million. Sales of individual savings products amounted to $93.7 million, for a $9 million increase over the first three months of 2007, while group retirement savings sales stood at $55.4 million.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products and services to individuals and groups. Every day, over 5 million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,900 people and administers over $22.0 billion in assets from offices in several cities across the country including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
The All-new Online Integrated Retirement Management Centre
Secure website for plan sponsors
Montréal, May 13, 2008 -- Desjardins Financial Security has officially opened its online Integrated Retirement Management Centre (IRMC)—an all new secure website for plan sponsors.
This new, easy-to-use, secure website has been designed to provide plan sponsors with the support they need for the day-to-day management of their plans.
And with this new tool, a greater than ever number of reports will be available online, thereby saving paper and helping Desjardins achieve its sustainable development goals.
What's new
Thanks to an entirely remodelled structure and new functionalities, the online integrated retirement management centre will offer plan sponsors:
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Greater accessibility to different reports and transaction records to simplify the daily management of their plans;
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A section entirely devoted to principles of sound pension plan governance;
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A new secure information exchange service, which can be used to transmit confidential information about their plans in a completely secure environment.
"Our main objective with the creation of the online IRMC was to offer plan sponsors packaged simple solutions that would meet their needs. We are very proud of the end result and are convinced that the new secure site will contribute greatly in making their lives easier", mentions Éric Filion, Senior Director Product Development and Marketing, Savings for Groups and Businesses at Desjardins Financial Security.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in individual and group life and health insurance, as well as retirement savings products and services. Every day, over 5 million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,700 people and administers over $22.0 billion in assets from offices in several cities across the country including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
This Mother’s Day, all moms deserve the day off according to mental health survey
Desjardins Financial Security survey shows that Canadian moms are healthy and happy, but more stressed out
Toronto, May 8, 2008 – All Canadian moms should enjoy a day off this Sunday because according to the recent Desjardins Financial Security (DFS) National Health Survey, they deserve it! The survey results indicate that Canadian moms are strongly committed to their families and enjoy excellent physical and mental health. However, their overall stress level has increased since last year and the key trigger points are related to their marital status.
When asked, 72 per cent of attached and 73 per cent of single moms agreed that today’s moms tend to do too much for their kids. Interestingly, taking care of children’s needs was the primary stress trigger for attached moms, whereas single moms said that they were mostly stressed by money worries and making ends meet. As a result, attached moms spend less leisure time with friends due to their family-focused activities and single moms are spending less time with family and more time alone.
The DFS survey also asked participants if they have ever gone to work sick and exhausted. Eighty-six per cent of women said yes. Attached moms said their main reason for going to work was that they wanted to avoid increasing their own workload, resulting in less time for family responsibilities. Single moms most often said that they couldn’t financially afford to take a sick day.
All respondents were asked to evaluate their financial security. Attached moms are more financially secure with more savings plans and health benefit programs than their single counterparts. They agreed that they likely could afford any unforeseen medical costs and were less likely to suffer from anxiety. In contrast, single moms were more likely to suffer from anxiety and only 35 per cent said they would likely be able to pay for any unforeseen medical costs.
Dr. Taylor Alexander, CEO of the Canadian Mental Health Association, National Office said that while many Canadian moms are becoming better at managing their health, there’s still more that can be done this Mother’s Day to help reduce Mom’s stress. “Mothers today lead very busy lives and juggle multiple priorities,” he said. “We encourage moms to take time for themselves everyday, and teach their kids to become more self-reliant and responsible. Clearly, a win-win situation for the whole family.”
About the Survey
SOM Surveys, Opinion Polls and Marketing conducted the survey on behalf of Desjardins Financial Security between February 7 and March 10, 2008. In total, 1,594 interviews were conducted with a representative sample of Canadian adults. The sampling plan provides proportional estimates with a maximum margin of error of plus or minus 2.6 per cent at a 95 per cent confidence level (19 times out of 20). The data was statistically weighted to accurately reflect the composition of Canadians by region, gender and age based on Statistics Canada's 2006 Census information. For more details on the survey results and Desjardins Financial Security's mental health partnerships, please visit www.healthiscool.ca.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products and services to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. The company employs over 3,900 people and administers more than $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Canadian workers punch in even when sick and exhausted
Recent health survey finds that 83 per cent of Canadians have practiced "presenteeism"
Toronto, May 1, 2008 – According to the first results of the Desjardins Financial Security National Health Survey released today in advance of National Mental Health Week (May 5 to 11, 2008), 42 per cent of Canadian workers went to work sick or exhausted at least once in 2007. Of these, 29 per cent admitted to working while ill three to five times, 11 per cent from six to 10 times and 12 per cent admitted to more than 10 times in the last year. The reasons most often mentioned by the respondents for their presenteeism were:
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Looming deadlines (61 per cent)
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Preventing workload pile-up (55 per cent)
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Not wanting colleagues to be overloaded (49 per cent)
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Concern about missing work being frowned upon (41 per cent)
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Simply not being able to miss the income (40 per cent)
Nine out of 10 workers believe that the incidences of stress-related mental health problems, such as burn-out, depression and anxiety have been increasing over the years. When asked about their daily work reality, many complained of increased stress, heavy workloads and a lack of recognition from their employer. 65 per cent said that they participate less in decisions that involve their work, 61 per cent agreed that workers today do too much for their employers and 60 per cent commented that workers have difficult relationships with their bosses. Over half of the workers surveyed (55 per cent) said they have less contact with their co-workers and supervisors.
"Even if each person is responsible for his or her own health, these results should prompt employers to take a closer look at the reality of their own workplaces and its impact on their employees' health," said Alain Thauvette, senior vice-president, Group and Business Insurance, at Desjardins Financial Security (DFS). "In the long run, employers cannot be entirely sure of the strength of their businesses if their workforce is not in good health."
And now the good news
Interestingly, when asked to name the top stressors in their lives, respondents mentioned work pressures third, after money problems and personal health issues. Michele Nowski, director of disability income claims and disability management at DFS is not surprised. "In reality, we see just a small percentage of mental health absences that are solely related to workplace issues. Obviously, stress management is still an everyday struggle for many people, but the main responsibility of the workplace is to provide healthy conditions to help workers face their daily challenges. The rest is up to the individual."
Workplaces appear to be gradually adapting to mental health challenges in their businesses. Close to two-thirds of workers think that their employer's senior management is concerned about employee wellness and four out of 10 believe that management is showing that they are ready to listen or are open to discussing issues with their employees.
Moreover, of the 55 per cent of workers who have seen a co-worker miss work for a period of time due to a mental health problem, 82 per cent said that it has made them more sensitive to behaving in a way that promotes mental health in the workplace. As a result, 68 per cent said that they have become more sensitive to their own mental health. Finally, 82 per cent of respondents disagreed that workers who miss work due to mental health problems view the time off as paid vacation.
"What struck me was the sense of compassion that workers have for their colleagues who are suffering from mental health problems. It's obvious that attitudes towards mental health issues in the workplace have evolved considerably," said Dr. Taylor Alexander, CEO of the Canadian Mental Health Association. "Increasingly, businesses are implementing policies and adopting behaviors that promote mental health that are becoming an integral part of the organization’s culture. This practice is crucial not only for everyone's well-being, but also as a means to combat looming labour shortages and to improve business profitability. Clearly, more needs to be done to create mentally healthier workplaces, as this survey shows. We should all think about adopting new attitudes about mental health at work, especially during National Mental Health Week."
The 57th annual National Mental Health Week is an initiative of the Canadian Mental Health Association (CMHA). For the third year in a row, Desjardins Financial Security is a major partner and will be sponsoring many activities across Canada including Dr. Steven Stein's "Mental Health: Make it Your Business" conference, to be held on May 6, 2008, at 6:00 p.m. at the Chateau Laurier in Ottawa.
For more details on the survey results and Desjardins Financial Security's mental health partnerships, please visit www.healthiscool.ca .
About the Survey
SOM Surveys, Opinion Polls and Marketing conducted the survey on behalf of Desjardins Financial Security between February 7 and March 10, 2008. In total, 1,594 interviews were conducted with a representative sample of Canadian adults. The sampling plan provides proportional estimates with a maximum margin of error of plus or minus 2.6 per cent at a 95 per cent confidence level (19 times out of 20). The data was statistically weighted to accurately reflect the composition of Canadians by region, gender and age based on Statistics Canada's 2006 Census information.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products and services to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. The company employs over 3,900 people and administers more than $22 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
Accelerated and Sustained Growth for Desjardins Financial Security
2007 Financial Results
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Net premium growth of 5.6%
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Group insurance premiums up 14.9%
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Net income of $216.7M, up 43.2%
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Operating income growth of $288.3M, up 42.2%
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Return on shareholder equity of 27.5%
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Profitability in all business lines
Lévis, March 18, 2008 -- At year-end, December 31, 2007, Desjardins Financial Security's net income totalled $216.7 million, crossing the $200-million mark for the first time. This excellent performance represents a $65.4 million or 43.2% increase over 2006, when net income totalled $151.3 million. Operating income amounted to $288.3 million for a 42.2% increase.
Business growth across the country, coupled with investment performance and improved productivity, was one of the key factors behind the Company's success.
With respect to overall business growth, insurance and annuity premium income increased 5.6% to stand at $2.6 billion. Insurance sales rose 14.0% to total $415.7 million. Assets under management and administration stood at $22.6 billion compared to $19.9 billion at the end of 2006, representing a 13.2% increase.
The Company's profitability in 2007 was affected by the subprime mortgage credit crisis worldwide, which led to liquidity problems on the non-bank-sponsored asset-backed commercial paper (ABCP) market. At December 31, 2007, Desjardins Financial Security had ABCP holdings of $161.2M after recognition of a $34.2M decrease in value. This depreciation reduced the Company's net income for 2007 by $17.8 million.
The portion of the Company's net income attributable to the shareholder totalled $211.1 million, for an increase of $65.3 million over 2006. Return on shareholder equity was 27.5%. With results like these, the Company continues to contribute to the profitability of Desjardins Group, the largest integrated cooperative financial group in Canada, with declared combined surplus earnings before member dividends of $1.1 billion at the end of 2007.
Fourth Quarter Results
For the period of October 1 to December 31, 2007, net income stood at $50.4 million, for an 18.0% improvement over Q4 2006 ($42.7 million). Insurance premium income for the period totalled $611.2 million, for a 12.9% increase.
Mr. Alban D'Amours, President and Chief Executive Officer of Desjardins Group and also Chief Executive Officer of Desjardins Financial Security, was very pleased with the life and health insurance subsidiary's strong growth across the country. "These exceptional results are a tribute to the quality of our Company's service offer and the hard work of our teams, which enabled us to reach our ambitious objectives. Desjardins Financial Security is asserting itself more and more on the Canadian market, where it is consolidating its position and making major gains, notably in the group insurance market, and contributing in a very tangible way to the success of Desjardins Group across Canada."
Mr. Richard Fortier, President and Chief Operating Officer of Desjardins Financial Security, was also extremely happy with the Company's performance last year. "On the basis of these results, we plan to forge ahead and strengthen our position as the fourth largest life and health insurer in Canada and reinforce our leadership position in the Quebec market. We will continue to focus our efforts on growing organically in all our activity sectors and will pay special attention to the development of our integrated service offer in the Desjardins caisse network."
Sector Performances
Strong growth in group and business insurance sales and premiums – Group and business insurance sales and administered premiums passed the $235-million and $2-billion mark respectively. Overall sales have grown significantly, from $195.6 million in 2006 to $237.3 million in 2007. Sales outside Quebec alone reached $180 million, in contrast to $154.8 million in 2006. These results are due to major group sales recorded outside Quebec, mainly in the public and parapublic sector. Since signing a $70-million contract with the Government of Newfoundland and Labrador in 2006, the Company has continued to expand its business portfolio by adding an $85-million insurance partnership with the Ontario Hospital Association and a $21.4-million agreement with the Newfoundland and Labrador Teachers' Association.
Individual insurance posts improved results – In 2007, individual insurance sales grew by $3.5 million to total $41.9 million. Premiums stood at $392.6 million, up $18.4 million from 2006. Sales and premiums from the network of caisse-dedicated financial security advisors rose by 6.5% and 21.1% respectively over last year.
Segregated funds records 32.4% growth – The savings sector has recorded good results once again. Sales totalled $1.1 billion, an improvement of $48.2 million over 2006. This excellent growth of 4.5% is due mainly to a combination of Helios and Millennia segregated fund sales, mutual fund sales, and group retirement savings sales.
In individual savings, sales totalled $255.8 million in 2007. Group retirement savings sales stood at $218.5 million, with accumulation products accounting for $96.7 million, for a 14.9% improvement over 2006, and payout annuities accounting for $121.8 million. With respect to segregated fund sales, combined sales of Helios and Millennia products reached $151.7 million, for a 32.4% increase over 2006.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products and services to individuals and groups. Every day, over 5 million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,900 people and administers over $22.0 billion in assets from offices in several cities across the country including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
The Make your bills…our bills! with Loan Insurance contest - A resident of Dugald wins $15,000
Toronto, March 3, 2008 – Laurie Fellers, a member of the Caisse populaire Laprairie, was pleased to learn that she had won $15,000. Ms. Fellers' mortgage loan with Desjardins was eligible for the Make your bills…our bills! with Loan Insurance contest, and she met with a credit officer from the caisse to obtain a Loan Insurance offer on her mortgage loan. She has now joined the ranks of the winners of the Make your bills…our bills! with Loan Insurance contest, organized by Desjardins Financial Security, the fourth-ranked insurer in Canada, in collaboration with caisses from the Fédération des caisses populaires du Manitoba.
The 2007 edition of the Make your bills…our bills! with Loan Insurance contest, which began on January 1, 2007 and ended on December 31, 2007, offered residents of Ontario and Manitoba the chance to win over $85,000 in prizes.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in individual and group life and health insurance, as well as retirement savings products and services. Every day, over 5 million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,700 people and administers over $22.0 billion in assets from offices in several cities across the country including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
The Make your bills…our bills! with Loan Insurance contest - A couple from North Bay wins $15,000
Toronto, February 22, 2008 – Linda Paquette-Moulaison and Darren Moulaison, members of the Caisse populaire North Bay Limitée, were pleased to learn that they had won $15,000. Ms. Paquette-Moulaison and Mr. Moulaison have a mortgage loan with Desjardins that was eligible for the Make your bills…our bills! with Loan Insurance contest, and they met with a credit officer from the caisse to obtain a Loan Insurance offer on their mortgage loan. They have now joined the ranks of the winners of the Make your bills…our bills! with Loan Insurance contest, organized by Desjardins Financial Security, the fourth-ranked insurer in Canada, in collaboration with caisses from the Alliance des caisses populaires de l'Ontario.
The 2007 edition of the Make Your Bills…Our Bills! with Loan Insurance contest, which began on January 1, 2007 and ended on December 31, 2007, offered residents of Ontario and Manitoba the chance to win over $85,000 in prizes.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in individual and group life and health insurance, as well as retirement savings products and services. Every day, over 5 million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,700 people and administers over $22.0 billion in assets from offices in several cities across the country including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
The Make your bills…our bills! with Loan Insurance contest - A Hearst resident wins $41,300
Toronto, February 16, 2008 – Joël Hudon, a member of the Caisse populaire de Hearst, was pleased to learn that he had won $41,300. Mr. Hudon's mortgage loan with Desjardins was eligible for the Make your bills…our bills! with Loan Insurance contest, and he met with a credit officer from the caisse to obtain a Loan Insurance offer on his mortgage loan. He has now joined the ranks of the winners of the Make your bills…our bills! with Loan Insurance contest, organized by Desjardins Financial Security, the fourth-ranked insurer in Canada, in collaboration with caisses from the Alliance des caisses populaires de l'Ontario.
The 2007 edition of the Make your bills…our bills! with Loan Insurance contest, which began on January 1, 2007 and ended on December 31, 2007, offered residents of Ontario and Manitoba the chance to win over $85,000 in prizes.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in individual and group life and health insurance, as well as retirement savings products and services. Every day, over 5 million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,700 people and administers over $22.0 billion in assets from offices in several cities across the country including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.
This Valentine's Day, Commit to Financial Security
Love Yourself Enough to Start Planning your Retirement Now
Toronto, February 14, 2008 -- It may be the height of RRSP season, but chances are that today, many Canadians won’t be thinking about investments; they’ll be thinking about romantic dinners. In fact, according to a national study recently published by Desjardins Financial Security, many Canadians seem to be inclined to spend more time choosing a new exotic restaurant than planning for their retirement years.
According to the annual DFS retirement survey, the proportion of workers 40 and over who say they have a savings accumulation plan is down to a low of 53%, compared to 62% of respondents in 2006. The rate drops even lower for workers 40 and over with only a high school education (42%), for those with household incomes of $50,000 or less (27%) and personal savings of $25,000 or less, and for those who consider their physical condition to be poor or fair (21%).
“It is disappointing, but not surprising” says Monique Tremblay, Senior Vice President, Savings and Segregated Funds, at Desjardins Financial Security. “People tell us that they can't imagine their lives five or ten years down the line, let alone 30 or 40! Our challenge is not only to communicate a certain sense of urgency, but also to show them it can be fun and easy to save by giving them tangible strategies they can use today to start on the road to a financially secure retirement.”
The survey also indicates that 28% of workers 40 and over who had a retirement savings management plan had prepared it themselves. While there is a considerable amount of financial information available nowadays, one might wonder if those plans take into consideration a variety of factors and risks that can have an impact on the yield and longevity of their nest eggs, such as market-related factors (e.g., inflation), rising life expectancies and healthcare costs.
Tremblay adds, “In the years leading to retirement, many feel like they have all the time in the world to plan and prepare for life after work. One unfortunate consequence of this is that many Canadians entering retirement do not have adequate savings in place or a prepared plan that specifies not only how they will use their savings to generate retirement income, but also how they will pay for the expensive care they might need in the last few years of their lives.”
So this Valentine's Day, Canadians may want to consider buying some simple chocolates and preparing a nice meal themselves and trading the expensive dinners for the ultimate show of self-love: a hundred bucks in their RRSP and a renewed focus on how they can better prepare for their future.
About the Survey
SOM Surveys, Opinion Polls and Marketing conducted the survey on behalf of Desjardins Financial Security between July 24 and August 31, 2007. In total, 1,505 interviews were conducted with a representative sample of Canadian adults. The sampling plan provides proportional estimates with a maximum margin of error of plus or minus 2.6% at a 95% confidence level (19 times out of 20). For more details on the survey results, please visit www.rethinkretirement.ca.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in individual and group life and health insurance, as well as retirement savings products and services. Every day, over 5 million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs over 3,700 people and administers over $22.0 billion in assets from offices in several cities across the country including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's.