Assumption Life is a financial services

Financial services

Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...

 company based in Moncton, New Brunswick

New Brunswick

New Brunswick is one of Canada's three Maritime provinces and is the only province in the federation that is constitutionally bilingual . The provincial capital is Fredericton and Saint John is the most populous city. Greater Moncton is the largest Census Metropolitan Area...

, Canada

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

. The company is a Canada

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

 wide life insurance

Life insurance

Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...

 provider with over 75,000 active policies

Insurance contract

In insurance, the insurance policy is a contract between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for payment, known as the premium, the insurer pays for damages to the insured which are caused by...

 and also operates a large asset management agency with over one billion dollars of assets under management

Assets under management

Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...

.

History

The company was established in 1903 by Acadian

Acadian

The Acadians are the descendants of the 17th-century French colonists who settled in Acadia . Acadia was a colony of New France...

s in Massachusetts

Massachusetts

The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...

 as la Société l'Assomption a small life insurance agency. The company moved to Moncton in 1913 and up until 1969 the company was run as a fraternal society before becoming a mutual. In 1972 Assumption Life moved into their new head office in Moncton, Assumption Place

Assumption Place

Assumption Place is an office building in the Canadian Province of New Brunswick in the city of Moncton. Its the headquarters of Assumption Life. It is tied for the title of tallest office building in New Brunswick with the Brunswick Square in Saint John, New Brunswick. The building has the most...

, which is by far the tallest building in the city.

Subsidiaries

Assumption Life has majority control over the following companies:

• Louisbourg Investments Inc., an investment portfolio management firm with over 1.4 billion dollars of assets under management.
• Assumption Place Ltd., A real estate holding company which owns the company's head office in Moncton (Assumption Place
  Assumption Place
  Assumption Place is an office building in the Canadian Province of New Brunswick in the city of Moncton. Its the headquarters of Assumption Life. It is tied for the title of tallest office building in New Brunswick with the Brunswick Square in Saint John, New Brunswick. The building has the most...
  
  ) along with other properties in Moncton and Edmundston, New Brunswick
  New Brunswick
  New Brunswick is one of Canada's three Maritime provinces and is the only province in the federation that is constitutionally bilingual . The provincial capital is Fredericton and Saint John is the most populous city. Greater Moncton is the largest Census Metropolitan Area...
  
  
• Atlantic Holdings (1987) Ltd.