Assumption Life was founded in Waltham, Massachusetts, in 1903 as Société l'Assomption, a fraternal benefit society aimed at securing the future and prosperity of Acadian families in New England by providing scholarships and life insurance products.
In 1913, the headquarters moved to Moncton, New Brunswick, where it remains today. Over the years, Assumption Life extended its presence well beyond the borders of Acadie, helping families across Canada. In 1969, the organization restructured from a fraternal society to a mutual insurance company and adopted the name Assumption Mutual Life Insurance Company. The construction of Assumption Place in 1970 marked a significant milestone, establishing a prominent presence in downtown Moncton. Expansion continued in 1979 with the opening of the Carrefour Assomption in Edmundston, New Brunswick.
In 1991, Assumption Life expanded its operations with the creation of Louisbourg Investments, an investment management subsidiary. By 2003, the company celebrated its centennial anniversary. That same year, it launched Lia, the first fully online sales platform in Canada’s life insurance industry, marking a significant innovation.
In 2007, Assumption Life became a national company, extending its reach across Canada. The year 2017 was particularly notable, as the company became the first life insurance provider in Canada to obtain B Corporation certification. That year also saw the acquisition of the technology consulting company TKS, now operating under the name LAVVI, further diversifying the company’s portfolio.
In 2021, Assumption Life was recognized with one of Canada’s Volunteer Awards from Employment and Social Development Canada for its contributions in 2020. The following year, 2022, the company reported the best financial results in its history, demonstrating sustained growth and resilience.
On September 8, 2023, Assumption Life celebrated its 120th anniversary. The year was marked by significant achievements, including being awarded the prestigious Culture of Excellence Award by Human Synergistics, a testament to the collective efforts of employees in fostering a robust organizational culture. This accolade was the fourth consecutive award received by the company, following the Transformation Award in 2020 and the Merit Awards in 2021 and 2022.
In 2024, Assumption Life’s annual golf tournament, a special event celebrating the company’s 120th anniversary, reached a remarkable milestone. Since its inception in 2001, the tournament has raised over $2 million for the Atlantic Cancer Research Institute (ACRI), underscoring the company’s longstanding commitment to community support and charitable endeavors.
Today, Assumption Life stands as one of the largest mutual life insurance and financial services organizations in Canada. The company offers a diverse range of products and services to meet the needs of its clients. It operates in four main lines of business: Individual Insurance, Investments & Retirement, Group Insurance, and Group Savings & Retirement.
Sébastien Dupuis joined Assumption Life in 2001 and rose through the ranks, becoming President and CEO in January 2019. Under his leadership, Assumption Life has achieved record-breaking financial results, winning the 2022 Merit and Transformation Awards from Human Synergistics for its cultural transformation efforts. Recognized as one of Atlantic Business Magazine's Top 50 CEOs in 2023 and 2024, Sébastien is celebrated for his strategic vision, leadership, and commitment to innovation. He actively supports his community through board roles, including with the CHU Dumont Foundation, reflecting the company’s strong community roots.
Assumption Life’s Board of Directors provides strategic oversight and governance, ensuring the company remains aligned with its mission and values. The board is chaired by Ivan Toner, ICD.D, President of MelamTech Consulting, who brings extensive leadership and industry expertise to the role. Comprised of experienced professionals from diverse industries, the board collectively contributes a wealth of knowledge to guide the company’s growth and innovation. Their leadership supports Assumption Life in delivering exceptional value to its clients, partners, and communities across Canada.
In 2023, Assumption Life made significant strides in various areas. Distribution efforts saw remarkable success, with individual insurance sales growing by 42% compared to 2022. The company achieved record cumulative sales of $197 million in investments and retirement, marking a 74% growth. Group insurance sales also surpassed $11 million. Additionally, the second Canada-wide Investment Tour was successfully conducted.
Targets for the Individual Insurance and Investment & Retirement lines of business were exceeded, achieving 42% growth compared to the previous year's 38%. The digital experience of the Vesta investment application platform was also enhanced, simplifying the work of advisors.
Financially, Assumption Life reported $341 million in premiums and deposits, $178 million in policyholders' equity, and $2.0 billion in assets under management. The solvency ratio as of December 31, 2023, was 157%. Profit attributable to policyholders was $8.5 million. The company received an A- (Excellent) rating from A.M. Best for the 25th consecutive year.
Assumption Life offers a diverse range of products and services designed to meet the varying needs of its clients. These include:
Individual Life Insurance: Providing comprehensive term and whole life coverage options to help individuals secure their financial future and protect their loved ones.
Individual Investments and Retirement: Offering a variety of investment solutions, including registered and non-registered plans, to help clients achieve their financial goals.
Group Insurance: Tailored group insurance plans designed to meet the needs of businesses and their employees.
Group Investments: Supporting organizations and their employees with group savings and retirement plans.
Residential Mortgages: Facilitating homeownership with competitive mortgage products.
Assumption Life first obtained B Corp certification in 2017 and successfully renewed it in 2024.
This certification recognizes companies that meet high standards of social and environmental performance, accountability, and transparency, forming a global movement to use business as a force for good. As part of this global community, Assumption Life joins over 9,100 companies worldwide dedicated to balancing people, planet, and profit.
Assumption Life demonstrates a strong commitment to sustainability through a range of initiatives across governance, environmental stewardship, client relations, community engagement, and employee well-being:
In governance, the company prioritizes societal engagement, board member involvement, financial transparency, and a transparent code of ethics.
Environmentally, Assumption Life promotes eco-conscious practices with bike lockers, and energy-efficient office renovations.
For its clientele, the company ensures the protection of customer data, satisfaction monitoring, and adherence to ethical marketing practices.
In the community, Assumption Life supports corporate social responsibility programs, volunteer initiatives, and a paid volunteer day for employees.
Dedicated to employee well-being, the company offers financial security, extensive benefits, a retirement program, and comprehensive health and wellness initiatives, including an onsite gym, yoga and bootcamp classes, fitness clubs, physiotherapy, and personalized workout and nutrition plans.
Assumption Life’s corporate culture is founded on the principles of collaboration, commitment, and mutual support. This strong cultural foundation has driven the company’s success and earned recognition both regionally and nationally. Assumption Life believes that its people are at the heart of its achievements, fostering a workplace environment where individuals work not only with each other but also for each other.
The commitment of Assumption Life’s employees has been a cornerstone of its corporate success. This was exemplified in 2024, when the company was recognized by Kincentric for achieving a 78% employee engagement rate. This figure places Assumption Life in the top quartile in Canada and significantly exceeds the national average of 68%. The high level of engagement reflects the company’s continuous efforts to nurture a constructive and collaborative culture.
Assumption Life’s dedication to its people and culture has garnered several prestigious accolades:
Atlantic Canada’s Best Employers: The company has consistently been named one of the best employers in the region, underscoring its reputation as a top workplace.
Atlantic Canada’s Best Places to Work: This recognition highlights Assumption Life’s commitment to providing an exceptional work environment.
Human Synergistics International Awards: In 2023 and 2024, the company received the Culture of Excellence Award, the highest distinction from Human Synergistics International. This marked its fourth consecutive year of recognition, following the Transformation Award in 2020 and the Merit Award in both 2021 and 2022.
The Assumption Foundation was established in 1964. Today, it continues the mission set forth by la Société l'Assomption when it was founded in 1903: to support the education of Acadians across the United States and Canada. Since its creation, the foundation has proudly awarded over 4 million dollars in scholarships.
In 2024, Assumption Life and its employees demonstrated remarkable generosity, dedicating 3,000 volunteer hours and supporting over 100 organizations, including the Canadian Red Cross, CHU Dumont Foundation, and United Way. The company donated 6% of its net profit to community causes, awarded 21 scholarships through the Assumption Life Foundation, and contributed $250,000 to the CHU Dumont Foundation’s “Driving Surgery Forward” campaign to fund a robotic surgery system.
A highlight of Assumption Life’s community efforts is its annual golf tournament. Marking the company’s 120th anniversary, the 2024 edition attracted nearly 150 participants and surpassed $2 million in funds raised since its inception in 2001 for the Atlantic Cancer Research Institute.
Assumption Life also supported its ambassador, Kamylle Frenette, who placed 4th in the paratriathlon at the Paris 2024Paralympic Games. Kamylle’s season included multiple podium finishes, and she credited the collective efforts of her team and Assumption Life for her success.
Louisbourg Investments is a leading portfolio management firm in Atlantic Canada founded in 1991. They strategically manage over $2 billion in assets on behalf of institutions, foundations and private clients.
As a registered portfolio management firm based in Moncton, NB, Louisbourg Investments offers access to high quality investment management and advisory services, leveraging their team’s diverse expertise to focus on clients’ unique goals and develop thoughtful solutions.
Lavvi is a Software-as-a-Service (SaaS) company with deep expertise in the insurance industry. As digital distribution experts, Lavvi has been delivering financial services software to long-standing clients since 2007. Their life insurance sales distribution platform digitizes the sales and compliance process, making it easier for insurance companies to do business - whether they're discovering alternative distribution (including direct-to-consumer) or improving the performance of their traditional advisor sales forces.
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CA $105.7 million (2007) [1] 
