Assumption Life reports the best financial results in its history

2/25/2022 12:00:00 AM

Moncton (NB), February 25, 2022 – Assumption Life is proud to announce that in 2021 it achieved its best financial results since its founding in 1903. The news was announced this morning at the company's annual general meeting, which was held in virtual format from its head office in Moncton, New Brunswick.
"The achievement of this historical record is due in large part to our clients, partners and communities who inspire us daily to achieve more. Throughout the past year, every member of our staff has demonstrated agility and innovation. Their extraordinary ability to adapt is reflected in Assumption Life's dedication and numerous achievements," stated Sébastien Dupuis, president and CEO of Assumption Life, with pride.

Here are a few highlights for the 2021 fiscal year:
  • Assets of $2.1 billion, representing an increase of 4.0% over the previous year.
  • Solvency ratio at 156%.
  • Total revenues of $167.2 million versus total expenses of $153.4 million resulted in net income for the year of $9.7 million, of which $9.5 million was attributable to Policyholders, a new record for the Company.
  • The A.M. Best agency awarded Assumption Life an A- Excellent rating for the 22nd consecutive year, once again confirming its financial strength.

The year 2021 was marked by numerous achievements. Assumption Life launched a new line of simplified issue products that offer solutions for all the important stages of its clients' lives.
This same focus on attractive solutions was applied to investment products with an evolution towards more simple and effective investment tools such as new guarantee options available for segregated funds and Registered Investment Accounts, as well as five new Select Portfolios. Launched in 2020, the Vesta investment platform has quickly become an indispensable tool for simplifying investments and closing sales entirely online.
Assumption Life was recognized for the second year in a row in Atlantic Canada's Top Employers list as one of the best employers in Atlantic Canada thanks to its exceptional corporate culture.
"Even though physical distancing has separated us at times over the past year, Assumption Life has remained close to its communities. We have continued to live our purpose of making a difference. From health to education, we proudly supported more than 90 organizations and initiatives across Canada and awarded 19 scholarships to our leaders of tomorrow, while our staff members volunteered nearly 800 hours," said Mr. Dupuis.
Assumption Life's social commitment was recently recognized at the national level through the Canada Volunteer Award presented by the Department of Employment and Social Development Canada at their latest ceremony, in the "Corporate Leadership" category.

About Assumption Life
With a 118-year history, Assumption Life continues to ensure the financial security of its clients through its innovative products, personalized services and community involvement. Through daily collaboration, coupled with the trust, commitment and leadership of its employees, Assumption Life offers one of the best experiences that makes a difference for advisors, clients and community members.
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For information and interviews:
Thomas Raffy
Director of Marketing and Communications
(506) 870-9153 ext. 5196