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 dividends.
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 Foresters ("Foresters").
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.
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