GUELPH, ON and MONTREAL, May 25, 2017 /CNW/ - Co-operators Life Insurance Company and Medavie Blue Cross announced today that they have entered into a group benefits joint venture. Under the venture, Medavie Blue Cross will administer existing and future group benefits policies for Quebec-based plan sponsors of The Co-operators.
This joint venture is a natural fit for both The Co-operators and Medavie Blue Cross as they share a common approach to clients, service, employees and the community. Clients will benefit from the breadth of Medavie Blue Cross' delivery systems in Quebec with no changes to coverage under their current policies.
"We are committed to growing our business in Quebec through our key distribution networks. This venture allows us to maintain a competitive group benefits package for our Quebec-based clients, while continuing to focus on supporting the communities in which we do business," says Kevin Daniel, executive vice president, COO, Co-operators Life Insurance Company. "Medavie Blue Cross' commitment to supporting health and wellness in their communities was a key factor in selecting them, and we look forward to a long and successful venture."
"I look forward to working collaboratively with The Co-operators in the coming months to ensure a smooth transition for our mutual clients," says Eric Laberge, president of Medavie Blue Cross. "This represents an important milestone in our efforts to collaborate with key stakeholders on strategic initiatives to accelerate our growth."
About Medavie Blue Cross:
Medavie Blue Cross is the leading member of the Canadian Association of Blue Cross plans, collectively providing coverage to over seven million Canadians. As a not-for-profit organization, we provide health, dental, travel, life and disability benefits to individuals and organizations, and administer various government-sponsored health programs.
Medavie Blue Cross is part of Medavie, a health company. Together with Medavie Health Services, the largest private provider of Emergency Medical Services in Canada, we are committed to providing innovative solutions that will improve the health of all Canadians.
Our shareholders are the employees, clients and communities we serve. Instead of paying dividends, we channel an annual social dividend to the Medavie Health Foundation as part of our commitment to helping Canadians live their best lives, both mentally and physically.
About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $47 billion in assets under administration offering clients home, auto, life, group, travel and commercial insurance, as well as investment products. The Co-operators has a strong and steadily growing presence in Quebec. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt; Corporate Knights' Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean's magazine. For more information please visit www.cooperators.ca.
SOURCE The Co-operators