Allstate to Transfer Group Critical Illness Plans

Summary#

Allstate Insurance Company of Canada says it will apply, on or after June 22, 2026, for permission under the Insurance Companies Act to transfer its group employer‑sponsored voluntary critical illness and accident insurance business to Blue Cross Life Insurance Company of Canada. If approved, Blue Cross Life Insurance Company of Canada would take over the policies and handle claims. The notice was published May 23, 2026.

What it does#

• Allstate Insurance Company of Canada will ask the Superintendent of Financial Institutions for approval to be reinsured by Blue Cross Life Insurance Company of Canada on an assumption basis.
• The transfer would cover all group employer‑sponsored voluntary critical illness and accident insurance issued in Canada (the “Assumed Policies”).
• Once the transfer takes effect, Blue Cross Life Insurance Company of Canada would assume Allstate’s duties, obligations and liabilities for those policies, including processing and paying claims.
• A copy of the proposed assumption reinsurance agreement will be available for inspection at 3389 Steeles Avenue East, North York, Ontario M2H 3S8 for a 30‑day period after the notice was published.
• Policyholders can request a copy in writing (attention Bob Mongia) or call 1‑844‑436‑1105 (Monday to Friday, 9:00 a.m. to 4:00 p.m. EST) with questions.

Who's affected#

• People covered by employer‑sponsored voluntary group critical illness and accident plans issued by Allstate Insurance Company of Canada in Canada.
• Employers who arrange those group plans and anyone who might make claims under those policies.
• It is not clear from the notice whether any individual policy wording, premiums, or coverage terms would change — the notice only describes the proposed transfer of responsibility.

Why it matters#

• If the transfer is approved, who handles and pays claims will change from Allstate Insurance Company of Canada to Blue Cross Life Insurance Company of Canada.
• Policyholders may want to review the reinsurance agreement or contact Allstate if they have questions about how claims or customer service could be affected.
• The change is not final until the federal regulator approves the application.