Maritime Life
Encyclopedia
The Maritime Life Assurance Company was a Canadian insurance company based in Halifax, Nova Scotia. It was founded in 1922 and in 2004 it became fully integrated with Manulife Financial
, with the Maritime Life brand being retired. In 2004 it had 2700 employees.http://www.insurance-canada.ca/consproducts/life-term/Maritime403.php
The Maritime Life headquarters was located in Armdale, Nova Scotia
(part of Halifax) near the head of the Northwest Arm
. After the merger with Manulife Financial, the signage of the building was changed accordingly and the facility became Manulife's central Halifax office.
One of the company's founders was The Hon. William Anderson Black
, who was later was elected as the member of Parliament for Halifax, from 1923 until his death in 1934. Incidentally, the last president of Maritime Life, prior to the amalgamation with Manulife Financial, was his great-grandson William "Bill" Black
. In his grandfather's tradition, Bill Black ran for the leadership of the Progressive Conservative Party of Nova Scotia
, but lost to Rodney MacDonald. His election bid for MLA, in the Halifax Citadel
riding in 2006, was also unsuccessful.
In 1924, Maritime Life wrote its first policies and by 1933 had surpassed $1 million in assets, with that figure doubling two years later. In 1956 the company spread outside of Atlantic Canada, with a branch opening in Kingston, Ontario
. Within three years, additional branches were opened in Toronto
and Montreal
, as well as in the smaller centres of Perth
and Windsor
in Ontario.
By the early 1960s, Maritime Life was one of the fastest growing insurance companies in Canada and it acquired The Royal Guardians insurance company of Montreal in 1961. Total assets for the growing company were $18.8 million.
In 1969, the John Hancock Mutual Life Insurance Company
of Boston, Massachusetts purchased Maritime Life, making the company its primary Canadian subsidiary. That same year, Maritime Life won a major contract, providing insurance services for personnel of the Canadian Forces
. In 1973, the company moved into a distinctive new headquarters in Halifax's Armdale
neighbourhood. By the end of the decade, Maritime Life had expanded across Canada, with offices in most major centres.
By 1982, the company had approximately $1 billion in assets and in 1986, it ranked 17th out of 150 insurance companies in Canada. By 1993, it had $3.2 billion in assets, with that figure growing to $4.3 billion within two years. In 1995, Maritime Life acquired Confederation Life
. In 1997, the company celebrated its 75th anniversary, with $5.5 billion in assets. In 1999, the company doubled in size, with the purchase of Aetna Life Insurance Company.
In 2001, Maritime Life purchased Royal & SunAlliance Life Insurance Company, with total assets for the company approaching $13.5 billion and net income exceeding $100 million. In 2003 it acquired the insurance business of Liberty Health and in 2004, for the fifth consecutive year, it was recognized as one of "The 50 Best Employers in Canada" as ranked by the Globe & Mail's Report on Business
.http://www.manulife.com/corporate/corporate2.nsf/Public/maritimeHistory.html
On April 28, 2004, Manulife Financial Corporation and John Hancock Financial Services, including its Canadian subsidiary, Maritime Life, completed the amalgamation into one company, under Manulife Financial name. John Hancock became a wholly owned US subsidiary of Manulife Financial, while Maritime Life was dissolved and integrated into Manulife Financial's Canadian operations.
Manulife Financial
Manulife Financial Corporation , is a Canadian insurance company and financial services provider. Manulife Financial's global head office is located in Toronto, Canada and the Company has operations in 21 countries and territories worldwide.The Company operates in Canada and Asia through the brand...
, with the Maritime Life brand being retired. In 2004 it had 2700 employees.http://www.insurance-canada.ca/consproducts/life-term/Maritime403.php
The Maritime Life headquarters was located in Armdale, Nova Scotia
Armdale, Nova Scotia
Armdale is a Canadian urban community located in Halifax Regional Municipality, Nova Scotia.Situated at the head of the Northwest Arm, from which it derives its name, Armdale borders the southern part of an isthmus connecting the Halifax Peninsula with the larger Chebucto Peninsula.-History:The...
(part of Halifax) near the head of the Northwest Arm
Northwest Arm
The Northwest Arm, originally named Sandwich River, is an inlet in eastern Canada off the Atlantic Ocean in Nova Scotia's Halifax Regional Municipality.-Geography:...
. After the merger with Manulife Financial, the signage of the building was changed accordingly and the facility became Manulife's central Halifax office.
History
Maritime Life was co-founded in 1922 by 9 residents of Nova Scotia. At the time of its founding, the company ranked 58th out of 60 insurance companies in Canada.http://www.manulife.com/corporate/corporate2.nsf/Public/maritimeHistory.htmlOne of the company's founders was The Hon. William Anderson Black
William Anderson Black
William Anderson Black, PC was a Canadian politician. He is the oldest person ever elected to the Canadian House of Commons, 76 years, 1 month, 26 days when he was first elected. He was 83 when he last won election and he died in office.He was born in Windsor, Nova Scotia, the son of Samuel Gay...
, who was later was elected as the member of Parliament for Halifax, from 1923 until his death in 1934. Incidentally, the last president of Maritime Life, prior to the amalgamation with Manulife Financial, was his great-grandson William "Bill" Black
Bill Black (politician)
William "Bill" Black is a businessman and a politician from Nova Scotia. He ran in the Leadership race for the Progressive Conservative Association of Nova Scotia in 2006, finishing second to Rodney MacDonald....
. In his grandfather's tradition, Bill Black ran for the leadership of the Progressive Conservative Party of Nova Scotia
Progressive Conservative Association of Nova Scotia
The Progressive Conservative Association of Nova Scotia, registered under the Nova Scotia Elections Act as the "Progressive Conservative Party of Nova Scotia", is a moderate right-of-centre political party in Nova Scotia, Canada....
, but lost to Rodney MacDonald. His election bid for MLA, in the Halifax Citadel
Halifax Citadel
Halifax Citadel is a provincial electoral district in Halifax, Nova Scotia, Canada, that elects one member of the Nova Scotia House of Assembly.Its current Member of the Legislative Assembly is Leonard Preyra of the Nova Scotia New Democratic Party....
riding in 2006, was also unsuccessful.
In 1924, Maritime Life wrote its first policies and by 1933 had surpassed $1 million in assets, with that figure doubling two years later. In 1956 the company spread outside of Atlantic Canada, with a branch opening in Kingston, Ontario
Kingston, Ontario
Kingston, Ontario is a Canadian city located in Eastern Ontario where the St. Lawrence River flows out of Lake Ontario. Originally a First Nations settlement called "Katarowki," , growing European exploration in the 17th Century made it an important trading post...
. Within three years, additional branches were opened in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
and Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
, as well as in the smaller centres of Perth
Perth, Ontario
Perth is a town in the eastern portion of Southern Ontario, Canada . It is located on the Tay River, 83 km southwest of Ottawa, and is the seat of Lanark County.-History:...
and Windsor
Windsor, Ontario
Windsor is the southernmost city in Canada and is located in Southwestern Ontario at the western end of the heavily populated Quebec City – Windsor Corridor. It is within Essex County, Ontario, although administratively separated from the county government. Separated by the Detroit River, Windsor...
in Ontario.
By the early 1960s, Maritime Life was one of the fastest growing insurance companies in Canada and it acquired The Royal Guardians insurance company of Montreal in 1961. Total assets for the growing company were $18.8 million.
In 1969, the John Hancock Mutual Life Insurance Company
John Hancock Insurance
John Hancock Financial is a loose term for a United States insurance company which existed, in various forms, from its founding on April 21, 1862, until its acquisition in 2004 by the Canadian insurance company Manulife Financial. It was named in honor of John Hancock, a prominent patriot...
of Boston, Massachusetts purchased Maritime Life, making the company its primary Canadian subsidiary. That same year, Maritime Life won a major contract, providing insurance services for personnel of the Canadian Forces
Canadian Forces
The Canadian Forces , officially the Canadian Armed Forces , are the unified armed forces of Canada, as constituted by the National Defence Act, which states: "The Canadian Forces are the armed forces of Her Majesty raised by Canada and consist of one Service called the Canadian Armed Forces."...
. In 1973, the company moved into a distinctive new headquarters in Halifax's Armdale
Armdale, Nova Scotia
Armdale is a Canadian urban community located in Halifax Regional Municipality, Nova Scotia.Situated at the head of the Northwest Arm, from which it derives its name, Armdale borders the southern part of an isthmus connecting the Halifax Peninsula with the larger Chebucto Peninsula.-History:The...
neighbourhood. By the end of the decade, Maritime Life had expanded across Canada, with offices in most major centres.
By 1982, the company had approximately $1 billion in assets and in 1986, it ranked 17th out of 150 insurance companies in Canada. By 1993, it had $3.2 billion in assets, with that figure growing to $4.3 billion within two years. In 1995, Maritime Life acquired Confederation Life
Confederation Life
Confederation Life Insurance Company, also known as Confederation Life, was a major Canadian insurance company and financial services provider. Its global head office was located in Toronto in what is now the Rogers Building...
. In 1997, the company celebrated its 75th anniversary, with $5.5 billion in assets. In 1999, the company doubled in size, with the purchase of Aetna Life Insurance Company.
In 2001, Maritime Life purchased Royal & SunAlliance Life Insurance Company, with total assets for the company approaching $13.5 billion and net income exceeding $100 million. In 2003 it acquired the insurance business of Liberty Health and in 2004, for the fifth consecutive year, it was recognized as one of "The 50 Best Employers in Canada" as ranked by the Globe & Mail's Report on Business
Report on Business
Report on Business, commonly referred to as simply ROB, is the financial section of The Globe and Mail, a large Toronto-based Canadian newspaper. It is the most lengthy completion of economic news in Canada, and is considered an integral part of the newspaper...
.http://www.manulife.com/corporate/corporate2.nsf/Public/maritimeHistory.html
On April 28, 2004, Manulife Financial Corporation and John Hancock Financial Services, including its Canadian subsidiary, Maritime Life, completed the amalgamation into one company, under Manulife Financial name. John Hancock became a wholly owned US subsidiary of Manulife Financial, while Maritime Life was dissolved and integrated into Manulife Financial's Canadian operations.
Logos
- 19??-2002 - The company's logo until 2002 was a stylised schoonerSchoonerA schooner is a type of sailing vessel characterized by the use of fore-and-aft sails on two or more masts with the forward mast being no taller than the rear masts....
under full sail. - 2002-2004 - This logo is pictured above.