Successful completion of the previously announced acquisition clears the way for the integration of the business into Blue Cross Life, expanding choice for Canadian employers and employees

MONCTON, NB, July 3, 2026 /CNW/ - Blue Cross Life Insurance Company of Canada ("Blue Cross Life") announced today that it has closed the previously announced acquisition of the Canadian voluntary benefits business of StanCorp Financial Group, Inc. The Canadian voluntary benefits business has provided critical illness and accident insurance products in Canada to employees and their families since 2015.

"This approval marks an important milestone for Blue Cross Life and the future of voluntary benefits in Canada," said Tim Mawhinney, President and CEO of Blue Cross Life. "We are pleased to welcome the voluntary benefits team to Blue Cross Life and look forward to building on their deep expertise, strong broker relationships and proven Canadian operating model. Together, we will be better positioned to offer Canadian companies and their employees' greater choice, flexibility and access to voluntary benefits that support financial security and wellbeing."

Customers and brokers will continue to be supported through established Canadian operations, with a focus on maintaining continuity of coverage, service and relationships throughout the integration. In time, the acquisition is expected to support a broader and more integrated voluntary benefits offering for Canadian employers and employees.

Blue Cross Life is part of the Blue Cross ecosystem in Canada, which has provided health, travel and life insurance solutions to Canadians for more than 80 years. This acquisition further reinforces Blue Cross Life's role in the Canadian workplace life benefits landscape, with voluntary benefits as a key component of its national growth strategy.

About Blue Cross Life Insurance Company of Canada

Blue Cross Life Insurance Company of Canada (Blue Cross Life) is one of Canada's leading life insurers. It takes pride in being a trusted brand by Canadian consumers, offering a full suite of top-tier individual and group life and disability insurance options tailored to protect families and individuals. Blue Cross Life's commitment to service and product excellence has earned it recognition as one of Canada's most respected life insurance companies. Blue Cross Life operates as a federally licensed insurer with coverage across Canada.

Learn more at bluecross.ca/life

SOURCE Blue Cross Life Insurance