The Canassurance Hospital Service Association (Blue Cross Canassurance) has unveiled plans for a new Canada-wide alliance.
Blue Cross Canassurance and Blue Cross Life Insurance Company of Canada are set to enter into a countrywide alliance as of January 2, 2020. In alignment with other members of the Canadian Association of Blue Cross Plans, Blue Cross Canassurance will become a shareholder of Blue Cross Life.
“Blue Cross Canassurance is very pleased to join Blue Cross Life together with the other Blue Cross member plans,” said Blue Cross Canassurance President and CEO Sylvain Charbonneau. “Blue Cross Canassurance is very pleased to join Blue Cross Life together with the other Blue Cross member plans.”
In a statement, Blue Cross Canassurance stressed the collaborative approach followed by Blue Cross Plans to use their individual and shared strengths in support of customers’ evolving health and wellness needs.
"This alliance marks an important step in achieving our strategy of operating on a truly national level; it strengthens our business while improving our capacity to work with the Blue Cross plans throughout Canada,” said Blue Cross Life President and CEO Marie-Josée Martin.
A submission has been filed with the Office of the Superintendent of Financial Institutions (OSFI), which holds the regulatory authority to approve the alliance.