Press Release

Blue Cross Life Closes Acquisition of Canadian Voluntary Benefits Business

Successful completion of the previously announced acquisition clears the way for the integration of the business into Blue Cross Life, expanding choice for Canadian employers and employees.

MONCTON, NB, July 3, 2026 – Blue Cross Life Insurance Company of Canada (“Blue Cross Life”) announced today that it has closed the previously announced acquisition of the Canadian voluntary benefits business of StanCorp Financial Group, Inc. The Canadian voluntary benefits business has provided critical illness and accident insurance products in Canada to employees and their families since 2015.

“This approval marks an important milestone for Blue Cross Life and the future of voluntary benefits in Canada,” said Tim Mawhinney, President and CEO of Blue Cross Life. “We are pleased to welcome the voluntary benefits team to Blue Cross Life and look forward to building on their deep expertise, strong broker relationships and proven Canadian operating model. Together, we will be better positioned to offer Canadian companies and their employees’ greater choice, flexibility and access to voluntary benefits that support financial security and wellbeing.”

Customers and brokers will continue to be supported through established Canadian operations, with a focus on maintaining continuity of coverage, service and relationships throughout the integration. In time, the acquisition is expected to support a broader and more integrated voluntary benefits offering for Canadian employers and employees.

Blue Cross Life is part of the Blue Cross ecosystem in Canada, which has provided health, travel and life insurance solutions to Canadians for more than 80 years. This acquisition further reinforces Blue Cross Life’s role in the Canadian workplace life benefits landscape, with voluntary benefits as a key component of its national growth strategy.

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About Blue Cross Life Insurance Company of Canada

Blue Cross Life Insurance Company of Canada (Blue Cross Life) is one of Canada’s leading life insurers. It takes pride in being a trusted brand by Canadian consumers, offering a full suite of top-tier individual and group life and disability insurance options tailored to protect families and individuals. Blue Cross Life’s commitment to service and product excellence has earned it recognition as one of Canada’s most respected life insurance companies. Blue Cross Life operates as a federally licensed insurer with coverage across Canada.  

Learn more at bluecross.ca/life.

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Media Contact

Nicole Piasentini
‍npiasentini@national.ca
416 848 1460

Welcome to Blue Cross Life, we're excited to have you with us! Effective July 2, 2026, Blue Cross Life Insurance Company of Canada assumed responsibility for the voluntary benefits business previously underwritten by Allstate Insurance Company of Canada.

We're proud to continue supporting your voluntary benefits coverage. Customers can continue to access their benefits and services as usual. No action is required.

PolicyMe Corp. is compensated through an administration and technology fee for each policy sold.

As one of Canada’s leading life insurers, Blue Cross Life takes great pride in being the most trusted brand by Canadian consumers, offering exceptional coverage tailored to protect them and their families.
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Individual Term Life and Critical Illness Insurance products are underwritten by Blue Cross Life and distributed by PolicyMe Corp.

Voluntary Benefits are underwritten by Blue Cross Life.