ivari. It’s our new name and a new way of talking about insurance. But there’s a lot about ivari that will feel familiar. That’s because we used to be Transamerica Life Canada, so we have over 80 years of experience providing Canadian families with quality, affordable protection options. Now, as ivari, you can expect all that from us…and more. We will always encourage an open conversation about the need for insurance, and we will stand by our word.
But we’re more than just talk
We began over 80 years ago, and in 2015, we were acquired by Wilton Re. Wilton Re is a life (re)insurance company specializing in the acquisition and management of life and annuity businesses as well as with assisting companies with product development, underwriting and new business strategies designed to serve the middle market.
Wilton Re maintains a rating of A+ from Fitch and A from A.M. Best with an outlook of Stable from both.
Let’s talk about...our products
We like to think of our products as conversation starters about your protection needs. By talking with your advisor about the different types of insurance protection available, you can begin to craft a plan that works for you. We offer a wide range of life insurance products for short term, lifetime and critical illness.
Let’s talk about...giving back
At ivari, we care about the health and wellbeing of all Canadians. Since 2000, our program, in the spirit of hope, has supported a diverse group of organizations that make Canada a better, healthier place to live. More recently, the program has focused on organizations that are dedicated to the prevention and elimination of heart disease, stroke, cancer and diabetes.
Wilton Re is a U.S. life (re)insurance company specializing in the acquisition of in force life insurance and annuity business. The company also has extensive experience in assisting life insurance companies with product development, underwriting and new business strategies designed to serve the middle market.
I’ve never heard the word ivari before? What are you guys all about?
Like many products and services, ivari is a made up word. We are confident that over time you will come to understand that ivari means a company that cares about providing affordable protection options for you and your family.
Will products change?
No. Our service philosophy, dedication, and our focus on the middle market will continue.
Will you be making any changes to current policies already inforce?
No, your existing policy will remain the same, including all terms and conditions, as well as the policy number
Will any processes change?
If clients have a pre-authorized debit or credit from us, by the end of April, 2016, they will notice our name will appear as IVARI.
If your policy has investment options, the fund names will be revised to reflect the change from Transamerica to ivari.
How will the new ownership affect financial strength?
The new ownership structure is very strong financially.
ivari’s rating with A.M. Best has been upgraded to A (Excellent) while Standard & Poor’s rating remains consistent at BBB+ (positive outlook). All of our invested assets are investment grade, with average quality being A+.
Wilton Re maintains a rating of A from A.M. Best and A+ from Fitch, with an outlook of Stable from both.
These ratings are based on Wilton Re’s consistently strong insurance earnings and balance sheet strength that includes strong capitalization across the company’s operating subsidiaries, a conservative investment portfolio, ample liquidity and modest financial leverage.
Will your contact information change?
It will remain the same for now. Our general contact information will not change, however our email address and web address have been updated to ivari.ca. When email addresses and websites change we will provide you with plenty of notice.
Will you be reissuing policies with your new name?
Existing policies will remain the same, including all terms and conditions, as well as the policy number. We will ensure that all policies can still be found under their original company name.
Since my contract is with Transamerica Life Canada, will my beneficiary have any issues making a claim?
Absolutely not. We are needed most at claims time and we know how difficult a time that can be. Your beneficiary will receive all the support he or she needs from us.
Who should policyholders make cheques payable to?
All cheques to be made payable to “ivari” as of October 26th.
While we encourage you to use the ivari materials immediately, we will accept all Transamerica Life Canada applications, advisor contracts, LifeView illustrations, forms, and cheques payable to Transamerica Life Canada, up to and including December 31, 2015.