BMO Life Assurance Company (formerly AIG Life Insurance)

Back to list

President & CEO: Peter McCarthy

AM Best Rating: A (Excellent)

Total Assets: $6.73 billion

Net Income: $10.3 million

Net Premiums Written: $559.5 million

Financial Size Category: X ($500 million to $750 million)

FSR Outlook: Stable

Best’s Issuer Credit Rating: a

ICR Outlook: Stable

As of Date: 12-07-2012

Organization Type: Stock

Specialty Lines of Business: Accident, Sickness and Life Insurance

Marketing Type: Broker Direct Response

Address:

BMO Life Assurance Company of Canada
60 Yonge Street
Toronto, Ontario
M5E 1H5

Phone: 1-800-387-4483 (BMO Life Assurance Company) 1-866-360-9765 (BMO Life Insurance)

Web Address: www.bmoinsurance.com

*Information courtesy of AM Best Key Ratings Guide 2013.

BMO Financial Group is a Canadian-based North American bank, established in 1817 as Bank of Montreal. The group provides a broad range of retail banking, wealth management and investment banking products and solutions to more than 7 million clients across Canada.

* Rating courtesy of www.ambest.com

*Info courtesy of BMO Financial Group Annual Report 2011 Personal & Commercial Banking Segment and canadainsurancequotes.org.

BMO Life Assurance Company similar to other Canadian life insurance companies, offers numerous products targeting clients with various insurance needs. 

Though LSM Insurance is not directly affiliated to this insurer, our experienced life insurance brokers have access to products and quotes of over 20 Canadian insurers similar to the ones provided by BMO Life Assurance Company such as term life insurance quotewhole life insurance quoteuniversal life insurance quotedisability insurance quotecritical illness insurance quoteno medical life insurance quotelong-term care insurance quotegroup benefits and others.

The company recently completed an acquisition of AIG Life Insurance Company of Canada (AIG Life of Canada). From the 1st of April, 2009, the former AIG Life of Canada became BMO Life Assurance Company and adopted the BMO Insurance brand for all of its marketing, broker and customer communications. It is now operating within BMO’s wealth management division, the Private Client Group. It should be noted that BMO Life Insurance which existed prior to the AIG acquisition still exists under a seperate distribution arm.

News about BMO Life Assurance Company

avatar
claudette
claudette

I just noticed that BMO took over Aig Insurance in January could u let me know why i was not notified about it and does it change anything for our life insurance and when will i get the papers from the bank because i guest now my papers from AIG are worth nothing. Please let me know as soon as u can. Thank you

Alison
Alison

If I get life/mortgage insurance from BMO am I buying from a bank or from an insurance company. I want my insurance underwritten as soon as I sign up for it, not when I want to claim it. Is BMO the way to go?

loreta alonzi
loreta alonzi

i just got your notice in the mail informing me of the change…. since we live in italy and i pay by ank draft .. what do i do now…. who do i send it to now…. i tried to call the 800 number but it doesnt work from europe so i dont even know who i can contact with my questions…. thanx loreta

Gladys Noble
Gladys Noble

Why was this insurance taken over by BMO?

Elizabeth
Elizabeth

I am an AIG Insurance policy holder and I have received a letter from BMO on the acquisition. I need to update my residential address which has changed. Can I do it online or do I have to call my financial advisor? Thank you.

Regards,

Elizabeth

Nat
Nat

Hi there, i was not aware of the change. How do i update my address information with the new company?

Gus
Gus

I don’t recall to have received a notification for the transfer from AIG to BMO. Although your website indicates that there is no change in the policy, I would appreciate to receive a written confirmation thereof and my new contact, etc.
Is it possible to have the premium paid automatically from my Visa account?
Gus

rowena
rowena

i was not aware of changed until i read my bank statement that bmo deducting the monthly payment from my account.how come i was not informed about it?

Brian
Brian

Can I have a notice on my life insurance for my policy originally purchased from Norwich union that was taken over by AIG. my file number or policy number is 8225547. I would like to have up-to-date paperwork.
thank you

Brian

Florence
Florence

My mother I believe had a life insurance policy but not positive which it was. I was told Norwich was the name . But on the other hand she also dealt with the bank of Montreal some time ago so it could be BMO life assurance co.

How can I find out if her policy is with them?

trackback
BMO Insurance has Competitive Term 20 Rates : TrafficInsurance.net

[…] BMO Insurance offers competitive rates for its Term 20 life insurance plans. […]

trackback
Jessica

How much is for me for $300,000 Term 100, I hd a heart attack 12 years mid 50’s

trackback
Howard

How much for $300,000 of BMO Term 30 – I’m 60 years old.

Temal Sukhu
Temal Sukhu

Now Since BMO has taken over AIG other than basic changes are there any changes so far as to the policies and rates of the clients under AIG? Will this affect previous policies in any way?.

Radar
Radar

How did this acquisition benefit customers? Did it? Will rates become more expensive in the future because of it as its one company now …

Lloyd
Lloyd

Can I get a quote on $300,000 of term 30 life insurance I’m 52

Juan Y
Juan Y

How much is a $300,000 Term 30 for a 57 year old.

Rose
Rose

How Can get more details on my Guaranteed Life Plus Plan I want to cancel it.