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Canadian group insurance specialist, SSQ Insurance, has announced a tie-up with Allianz Global Benefits in a quest to make the most of the international insurer’s global risk pooling capabilities and plan cost controls.
Allianz Group Benefits, a member of Allianz Group, supplies employee benefits plans to 88 million clients worldwide. It’s a leader in international risk pooling, which enables employers with operations in several countries to pool the financial results of its various regional group insurance plans.
Managing group insurance on an international scale helps to mitigate cost fluctuations among plans in different countries and therefore grants employers better control of the costs of their group insurance plans. SSQ hopes to use these capabilities in its pan-Canadian development plan.
“We’re very proud to have concluded this agreement,” said Geneviève Fortier, SSQ Insurance’s senior vice president – Distribution. “This type of collaboration is a first for SSQ Insurance. By adding the expertise and global reach of Allianz Global Benefits to our service offer, we will be giving our current and future clients the advantages of international risk pooling.”
With the new and exclusive partnership, SSQ Insurance hopes to be a major contender to provide group insurance for the Canadian employees of multinationals with Canadian subsidiaries.
Dirk Hellmuth, CEO of Allianz Global Benefits, commented: “Being where our clients are is of key importance for us and is in alignment with our growth strategy in this important business segment of employee benefits. We’re very proud to count a group insurance provider with growth ambition as well as excellence in service like SSQ Insurance as our new partner in Canada and welcome them warmly.
“SSQ Insurance is the ideal partner to offer the Canadian subsidiaries of our multinational clients the full range of high-quality products and outstanding service, combined with strong financial security.”
