Desjardins Insurance
Desjardins Insurance, a prominent insurance unit of Desjardins Group, operates within the framework of Canada's renowned association of credit unions. With a focus on providing comprehensive insurance solutions, Desjardins Insurance oversees two key subsidiaries: Desjardins Financial Security and Desjardins General Insurance. Desjardins Financial Security specializes in offering various financial products and services, while Desjardins General Insurance focuses on providing insurance coverage across a range of areas. As part of Desjardins Group, Desjardins Insurance plays a crucial role in the Canadian insurance landscape, offering trusted protection and financial solutions to individuals and businesses alike.
 | This article contains promotional content. (June 2019) |
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| Company type | Private |
|---|---|
| Industry | Insurance |
| Predecessor | State Farm Insurance of Canada |
| Founded | 1944 in Lévis, Canada |
| Headquarters | Lévis , Canada |
Area served | Most of Canada |
| Services | |
| Website | desjardinsinsurance |
Desjardins Insurance is an insurance unit of Desjardins Group, an association of credit unions in Canada. Desjardins Insurance has two principal subsidiaries: Desjardins Financial Security and Desjardins General Insurance.
History
The first subsidiary of Desjardins Group was created in 1944 under the name of "Société d'assurance des caisses populaires" (SACP). In 1948, Desjardins Life Insurance, known today as Desjardins Financial Security (DFS), was also created. After a post-war and prosperity environment, they merged under the common name of Desjardins Insurance.
In 2015, Desjardins Insurance acquired the Canadian operations of U.S.-based insurer State Farm,[1] which made Desjardins the second-largest property and casualty insurer in Canada. This also made it the largest in Ontario.[2] This acquisition almost doubled the company's premiums, increasing from 2 billion to 4 billion.[3] 50% of their volume now comes from State Farm. Other business derives from Desjardin's group insurance (The Personal), white label activities with Scotia Bank, brokerage with Western Financial, and activities related to the exclusive agents of Quebec.[4] In 2018, State Farm Canada was officially rebranded to Desjardins Insurance through Desjardins Insurance Agents. The whole transition was to be completed by December 31, 2019.[5]
Desjardins Insurance was the first insurance company to widely offer UBI savings program in Ontario and Quebec.[6]
See also
References
- ^ "State Farm's brand name to disappear in Canada". Canadian Underwriter. 2017-11-21. Retrieved 2018-06-20.
- ^ "Desjardins profitera du savoir-faire de State Farm | Journal de l'assurance". journal-assurance.ca (in French). 2014-01-28. Retrieved 2018-07-05.
- ^ "Acquisition de State Farm Canada: le grand coup de Desjardins". Le Soleil (in Canadian French). 2015-10-03. Retrieved 2018-07-05.
- ^ "Près de 50 % du volume de Desjardins Assurances provient de ses agents exclusifs | Journal de l'assurance". journal-assurance.ca (in French). 2015-05-19. Retrieved 2018-07-05.
- ^ "Desjardins outlines 18-month plan to re-brand State Farm". Canadian Underwriter. 2017-11-22. Retrieved 2018-10-19.
- ^ "Ajusto customers improving driving behaviours and saving money: Desjardins - Telematics in Insurance - Insurance-Canada.ca". insurance-canada.ca. 2 June 2014. Retrieved 2022-08-11.
