A couple of years ago AXA insurance left Canada. They sold all their insurance (life, and house and auto) to Intact Insurance. Intact is a house and auto insurer and doesn’t focus on life. So Intact carved off the AXA life insurance policies from the sale and resold AXA again over to a company called SSQ. Long story short, AXA life insurance is now SSQ.
In an attempt to regain clients and re-enter the market, ‘AXA now SSQ’ has lowered their rates substantially. When running quotes you may now see SSQ showing up. In addition, they’ve been peppering brokers with emails about how wonderful and new things are.
Unfortunately, it seems to be business as usual. I ceased recommending AXA to my clients a couple of years ago, due to serious and repeated service related issues. It seems that the rebranding of SSQ over AXA hasn’t corrected that issue. My recent experience with them indicates that the same people are still there, doing the same things they were before. As a result, while I do have SSQ available to my clients, I continue to recommend ‘avoid’ even when they come up the least expensive.
Let’s hope the new boss cleans things up eventually so that we have another competitive player in Canada that I can recommend.