Press Release

Blue Cross Life Issues $60 Million of Subordinated Debentures

Net proceeds will support regulatory capital and general corporate purposes. The debentures are rated BBB (High) with a Stable trend by DBRS Morningstar.

MONCTON, NB, July 8, 2026 – Blue Cross Life announced today the successful completion of a private placement of $60 million Canadian principal amount of 4.849% subordinated unsecured fixed/floating debentures due July 8, 2036 (the "Debentures").

The net proceeds from the offering will be used for regulatory capital and general corporate purposes.

The Debentures were sold in Canada on a private placement basis pursuant to certain prospectus exemptions.

BMO Nesbitt Burns Inc. acted as the sole agent in connection with the offering of the Debentures.

‍

Cautionary Statement

Statements in this release reflect current beliefs and are based on information currently available to management of Blue Cross Life and include statements regarding the expected use of proceeds of offering which may be impacted by market conditions.

Readers are cautioned that such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from these statements. Blue Cross Life can give no assurance that actual results will be consistent with these forward-looking statements.

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.
Individual Insurance
Term Life Insurance
Critical Illness Insurance
Group Insurance
Voluntary Benefits
Protection Plus
Life and Disability Benefits
Learn More
About
Make A Claim
Contact Us
Careers
Blog

® Registered trademark of the Canadian Association of Blue Cross Plans, an association of independent Blue Cross Plans and Licensees. Used under license by Blue Cross Life Insurance Company of Canada, an independent licensee of the Canadian Association of Blue Cross Plans.

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.