Date Closed

January 1, 2012

Lead Office

Québec City

Value

300.00 Million CAD

On January 1, 2012, SSQ, Life Insurance Company Inc., with the support of its majority shareholder, Fonds de solidarité des travailleurs du Québec (F.T.Q.), concluded the acquisition from Intact Financial Corporation of AXA Life Insurance Inc., a newly formed insurance company. The name of AXA Life Insurance Inc. will be changed to SSQ Insurance Company Inc.

SSQ Insurance Company Inc. (AXA Life Insurance Inc.) will continue to offer a full range of individual insurance products and specialized group insurance products from its offices in Montreal, Toronto, Calgary, Vancouver and Dartmouth. It will also maintain its distribution agreements with its two subsidiaries, Services Financiers AXA Assurance Inc. and SécuriGroupe Inc.

This acquisition will allow SSQ Financial Group to strengthen its position on the individual insurance market, increase its presence throughout Canada, enlarge its distribution network for its range of segregated fund products (ASTRA Funds) and welcome a new portfolio of group insurance products that complement its own.

McCarthy Tétrault LLP represented SSQ, Life Insurance Company , as acquiror, with a team led by François Amyot.