Assumption Life reports one of the best financial results in its history

2/26/2021 12:00:00 AM

Moncton, N.B., February 26, 2021 –At its annual general meeting held virtually today, Assumption Life proudly announced that the year 2020 ended with the third-best financial result in the 117-year history of the Acadian Company.

"The credit for this excellent financial management goes to all our fantastic employees and advisors who embody our core values of leadership, collaboration, trust and commitment and who make a difference for our clients, partners and communities. The resilience and adaptability of the Company and our employees have enabled us to weather the unprecedented crisis of COVID-19 and to continue to deliver all our products and services without interruption. Both our customers, our partners and communities needed us when faced with the unexpected, and we were able - without hesitation - to respond," said Sébastien Dupuis, president and CEO of Assumption Life.
Here are a few highlights from fiscal year 2020:
  • Assets under management reached $2.1 billion, a record level for the Company, representing an 8.8% increase over 2019;
  • The solvency ratio was 166%;
  • The result for the year attributable to Policyholders was $7.7 million;
  • Agency A.M. Best gave Assumption Life an A- Excellent rating for the 21st consecutive year, confirming the Company's financial strength, especially in a year marked by uncertainty.
Other outstanding achievements
The Company has successfully launched its new platform, Vesta, that simplifies investments and allows advisors complete sales entirely online.

In group insurance, Assumption Life has distinguished itself by its ability to adapt to support companies that have gone through very difficult times with ever-changing needs.

Assumption Life has been recognized by Atlantic Canada's Top Employers as one of the best employers in the Atlantic provinces thanks to its exceptional work environment. For example, an independent survey revealed that 97% of its employees were satisfied with the Company's ability to respond to COVID-19 to protect employee safety while ensuring business. "Finally, in 2020, Assumption Life stands out as a leader in social commitment, because a pandemic will not stop us from making a difference. We have answered the call, supported causes related to education, and we have prioritized the health sector since health is our greatest asset. Last year, our philanthropic efforts reached $464,000, in addition to 358 hours of volunteer work by our employees. We are proud to make a difference. "adds Sébastien Dupuis.

Founded in 1903, Assumption Life offers individual and group insurance, investment and retirement products, as well as mortgage loans. It is present in all provinces and territories of Canada. The company's head office is located in Moncton, New Brunswick.

For information and interview:
Thomas Raffy
Director, Marketing and Communications
506 870-9153 ext 5194