Clarical Insurance Company
Clarical Insurance Company (presently Sun Life Financial)
150 King Street West
Toronto, ON Canada
Clarica Life Insurance Company which originated in Waterloo, was known as “The Mutual Group” before it went public in 1999. Finally in May 2002, “The Mutual Group” merged its operations with Sun Life Financial for the amount of $4.7 billion. Some products continued to use the brand Clarica until it was removed in 2007. Today, these merged companies are known as Sun Life Financial Inc.
The firm and its partners provide insurance, retirement and investment solutions around the world. Countries that can avail of Sun Life Financial’s services are: Canada, the United States, the United Kingdom, Japan, China, India, the Bermuda and the Philippines. From Forbes Global 2000 list, it ranks 236 for the year 2010.
It is the largest exclusive life, health and wealth insurance distribution system in Canada with over 140 years of experience. All their products and services focus on aiding their customers to achieve lifetime financial security. Sun Life Financial enables private individuals and families to build savings and protect their assets. Small and large businesses and associations can avail of benefit and retirement plans for their employees.
For the year 20009, this public corporation was able to profit a net income of $622 million Canadian dollars (CAD). It’s revenue reached $15.510 billion CAD. Sun Life Financial’s team is 29,180 strong, including other corporations it has joint ventures with which are located in India and China. However, the head office remains in Ontario Canada. It was founded in 1865 by Matthew Hamilton Gault in Quebec.
Mr. Kevin Dougherty is the current president of both Sun Life Financial Canada, and Sun Life Global Investments (SLGI). He has been with the company since 1994 and was recently appointed to this new position in January 2010 due to his extensive knowledge in creating strategies for the company’s wealth and protection businesses. Under his leadership, Sun Life Financial reinforces its core strengths. This includes risk management practices to safeguard the firm’s sustainability. Financial ratings are solid in this strong and well capitalized company. Team members pride themselves in committing to the highest standards of business ethics and good governance.
Time and again, Sun Life Financial has confirmed its position as one of the top financial services provider in the domestic and international scene. From 2007- 2008, the corporation: was included in Canada’s 50 Best Corporate Citizens and 50 Best Companies to Work For in Ireland, received the Lipper Fund Award in Hong Kong. In the Philippines, it was named a Child-Friendly company. While in India, it won the Best Mutual Fund House for 2007.
Corporate responsibility is a matter that is taken seriously by the firm. It supports and contributes to these organizations and initiatives, some of these include several heart and stroke foundations campaigns in Montreal and other cities in Canada. Noted as a guardian of the arts, the Canada’s National Ballet School and Segal Center for Performing Arts have also benefited from the support of Sun Life Financial. China has also received donations for disaster aid.