Transamerica Life | Sale of a segment of Transamerica disability policies to LS Insurance

After careful consideration and assessment of our book of business, and to remain in line with our focus on life insurance, Transamerica Life Canada is selling a segment of disability policies to LS Insurance Company (“LS Insurance”), a well-established insurance provider based in Saint-Hyacinthe, Quebec.

In total, approximately 3,000 policies will be affected. That represents a large portion of our disability business (which has been closed to new sales for some time) but a very small portion of our overall existing business.

We were careful to select a buyer who would be able to serve our disability policyholders extremely well. LS Insurance is a leading provider of disability insurance and has a thriving business model, which means this decision is a positive one for policyholders.

Pending OSFI (Office of the Superintendent of Financial Institutions) approval we expect that the transaction will be final by the end of the second quarter. In its Annual Report, released April 17, LS Insurance makes reference to their intent to acquire the book of business, pending regulatory approval.

Until OSFI approval, any questions regarding Transamerica disability policies should still be directed to Transamerica Client Services at 1-800-797-2643 between the hours of 8:00 a.m. EST and 7:00 p.m. EST Monday through Friday.