Record sales and a winning culture: Assumption Life announces an excellent 2023 year

Moncton (NB), February 23, 2024 - Assumption Life is celebrating an exceptional 2023 year, characterized by record sales and the exemplary commitment of its teams. The announcement was made at the company's annual general meeting, held simultaneously in person and with a live broadcast in Moncton.

"2023 was marked by the commitment of our people, which led to remarkable success and record sales. These achievements are the result of the hard work, determination, and exemplary leadership of our teams. We are convinced that these successes will drive our ambitions for the year ahead," says Assumption Life President and CEO, Sébastien Dupuis.

Highlights of the 2023 fiscal year
 

• Results attributable to policyholders: $8.5M
• Assets under management: $2.0 billion
• Policyholders' equity: $177.8M
• Solvency ratio: 157%
• A.M. Best "A- Excellent" rating maintained for the 24th consecutive year.

Notable achievements
 

• Individual Insurance
  • Individual insurance sales growth of 42% compared to 2022.
  • Redesign of Lia, our sales web platform, with a modern design and new functionalities.
• Investments and Retirement
  • Exceptional growth in Investments & Retirement, with record cumulative sales of $197M and growth of 74%, compared with 2022.
  • Second edition of the Canadian Investment Tour.
• Group Insurance
  • Achievement of targets set for 2023.
  • Improved retention rate.
• Employee engagement
  • Kicentric engagement survey: Assumption Life ranked in the first quartile in Canada with an engagement rate of 79%, above the Canadian average of 68%.
  • Awarded the prestigious "Culture of Excellence Award" by Human Synergistics. Fourth award for Assumption Life in 4 years (Merit Award for 2021 and 2022, and the Transformation Award, for 2020).
• Community involvement
  • More than 120 organizations and initiatives supported in 2023.
  • More than 1,200 hours of community volunteer work by Assumption Life employees.
  • Major donation of $250,000 to the CHU Dumont Foundation.
  • 18 scholarships awarded by the Assumption Life Foundation, including the creation of the First Nations Scholarship.
  • Support for paratriathlete, Kamylle Frenette, in her preparation for the Paris 2024 Paralympic Games.

"These exceptional results are a testament to our unwavering commitment to excellence and our continuous determination to reach higher heights. As our company celebrates 120 years of contributions and impact, we are proud to stand by our clients, advisors, partners and communities to ensure a better future," adds Sébastien Dupuis.

About Assumption Life
With 120 years of 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.