What’s New: In Brief (April 19, 2007)

SSQ Financial Group reported an increase of 11.8% in premiums underwritten in 2006, representing an increase from $1.2 billion to $1.4 billion. SSQs Group Insurance business line experienced $95 million in new sales and growth in annual premium income of 9.3%, for a total of $960.1 million in 2006, an SSQ release says. Over the past year, this business line continued to pursue its pan-Canadian expansion, the release says. The combined efforts of Toronto, Montreal and Quebec City sales offices have met with success: SSQ has secured a place in a highly competitive market, with never-before-attained results in terms of new sales.

RBC Insurance is upgrading its Accident Protection option available to Ontario drivers by offering savings as a reward for maintaining a clean driving record. Upon purchasing the accident protection option, a drivers first at fault accident will not affect their RBC Insurance policy. The option is available throughout the policy term as well as at policy renewal for the cost of $50 per vehicle per year. The extra protection is only offered to qualified Ontario drivers who have not had any at-fault accidents within the last six years, subject to certain conditions. RBC plans to offer the option in other provinces over the near future.