MISSISSAUGA ON, Jan. 23, 2012 /CNW/ - As of January 23, 2012, Unity Life
of Canada, a Foresters™ company, has changed its name to Foresters Life
Insurance Company1. The name change symbolizes the continuing evolution and growth of the
company following its acquisition by Foresters in 2008.
"The name change will allow us to present a contemporary and unified
brand to our clients and business partners. Operating as Foresters Life
Insurance Company, we will now be recognized in the marketplace as part
of the overall Foresters family of companies and the excellence
Foresters stands for, both in terms of our products and our commitment
to the well-being of Canadian families and communities," said Anthony
Poole, President & CEO, Foresters Life Insurance Company.
Foresters Life helps provide financial security to Canadians through
quality life insurance products. The name change does not change
clients' insurance coverage, policy values, premiums or policy
About Foresters Life
Foresters Life, founded in Canada in 1898 as the Insurance Department of
the Subsidiary High Court of the Ancient Order of Foresters, was
incorporated in 1934 as Toronto Mutual Life Insurance Company and
became Unity Life of Canada in 2002 when it amalgamated with its
subsidiary, The Western Life Assurance Company. Foresters Life
maintains an "A-" (Excellent) rating by A.M. Best.2
Founded in 1874 as a fraternal benefit society, Foresters champions the
well-being of families through quality life insurance, unique member
benefits and inspiring community activities. Foresters has assets of
over $6.3 billion with liabilities of $4.9 billion resulting in a
surplus of $1.4 billion (all figures in Canadian dollars as of December
31, 2010) and maintains an "A" (Excellent) rating by A.M. Best2. Foresters shares its financial strength with more than 835,000 members
in Canada, the United States and the United Kingdom. For more
information, please visit foresters.com.
ForestersTM is the trade name and a trademark of The Independent Order of
Foresters, a fraternal benefit society, Toronto, Canada M3C 1T9. Its
subsidiaries are licensed to use this mark.
1 Foresters Life Insurance Company ("Foresters Life", formerly Unity Life
of Canada), is a wholly owned subsidiary of The Independent Order of
2An "A" (Excellent) rating is assigned to companies that have a strong
ability to meet their ongoing obligations to policyholders and have, on
balance, excellent balance sheet strength, operating performance and
business profile when compared to the standards established by A.M.
Best Company. In assigning the ratings for Foresters and Foresters Life
on May 26, 2011, A.M. Best stated that the rating outlook is "stable"
for each, which means it is unlikely to change in the near future. A.M.
Best assigns ratings from A++ to F, A++ and A+ being superior ratings
and A and A- being excellent ratings.
SOURCE Foresters Life Insurance Company
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