Allstate reinsurance transfer to Blue Cross

Summary#

Allstate Insurance Company of Canada plans to apply to the Superintendent of Financial Institutions for approval to transfer its reinsurance on certain group employer-sponsored voluntary critical illness and accident plans to Blue Cross Life Insurance Company of Canada. The application will be made on or after June 22, 2026, and policyholders can inspect the proposed agreement for a 30-day period after the notice was published on May 23, 2026.

What it does#

• Allstate Insurance Company of Canada will ask the regulator under the Insurance Companies Act to approve an assumption reinsurance deal for all group employer-sponsored voluntary critical illness and accident risks it issued in Canada.
• If approved, Blue Cross Life Insurance Company of Canada would take over the duties, obligations and liabilities for those policies — including processing and paying claims — as of the transaction’s effective date (the notice does not give that exact date).
• A copy of the proposed assumption reinsurance agreement is available for inspection at Allstate’s offices at 3389 Steeles Avenue East, North York, Ontario M2H 3S8 for 30-day after publication.
• Policyholders can request a copy in writing (attention Bob Mongia) or call Allstate’s toll-free number 1‑844‑436‑1105 (Monday to Friday, 9:00 a.m. to 4:00 p.m. EST).

Who's affected#

• People covered by group employer-sponsored voluntary critical illness and accident insurance policies originally issued by Allstate Insurance Company of Canada in Canada.
• Employers or plan administrators who sponsor those group plans may also be affected.
• It is not clear from the notice whether plan terms, premiums, or other features will change; the notice only describes the proposed transfer of insurer responsibility.

Why it matters#

• If the transfer goes ahead, claims and customer service for the listed group plans would be handled by a different company (Blue Cross Life Insurance Company of Canada), which could change how claims are filed or processed.
• Policyholders who want to understand any practical changes or raise questions can inspect the proposed agreement or contact Allstate using the details above.
• The change is not final — it depends on regulatory approval by the Superintendent of Financial Institutions.