MONTREAL, Dec. 5, 2019 /CNW/ – The Canassurance Hospital Service Association (Blue Cross® Canassurance™) and Blue Cross Life Insurance Company of Canada will enter into a Canada-wide alliance as of January 2, 2020. Blue Cross Canassurance will become a shareholder of Blue Cross Life, in alignment with the other members of the Canadian Association of Blue Cross Plans.
“Blue Cross Canassurance is very pleased to join Blue Cross Life together with the other Blue Cross member plans. This alliance will contribute to strengthening the collaboration between the various Blue Cross plans across Canada, thus reinforcing our ability to provide excellent products and services to our customers and business partners,” stated Sylvain Charbonneau, President and CEO of Blue Cross Canassurance.
The Blue Cross plans always favored working collaboratively to optimize their individual and shared strengths in order to offer customers solutions that support improved health and wellness. This important agreement will enable Blue Cross Canassurance to ensure that it meets the evolving needs of its customers.
“This alliance marks an important step in achieving our strategy of operating on a truly national level; it strengthens our business while improving our capacity to work with the Blue Cross plans throughout Canada,” stated Marie-Josée Martin, President and CEO of Blue Cross Life.
As this alliance is subject to approval by regulatory authorities, a submission has been filed with Office of the Superintendent of Financial Institutions (OSFI).
About Blue Cross Canassurance
The Canassurance Hospital Service Association (Blue Cross Canassurance) contributed to introducing health and travel insurance to Quebec and Ontario. Founded over 75 years ago, the organization is built on solid foundation of excellence and continues to be the reference standard for individual insurance and assistance, thanks to services that continually adapt to the changing needs of its clients. It operates under the names Québec Blue Cross® and Ontario Blue Cross® and provides assistance through its subsidiary CanAssistance Inc.
About Blue Cross Life Insurance Company of Canada
Blue Cross Life is a federally-licensed company with operations located in several provinces. The Company is owned by four shareholders, operating as Alberta Blue Cross, Saskatchewan Blue Cross, Manitoba Blue Cross, Medavie Blue Cross. It specializes in life and living benefits insurance to supplement the portfolio of health and dental products distributed by its shareholder Blue Cross plans.