Serenia Life Financial
Formerly | FaithLife Financial Lutheran Life Insurance Society of Canada |
|---|---|
| Fraternal benefit society | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | June 28, 1972 |
| Founder 👔 | |
| Headquarters 🏙️ | , , Canada |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | serenialife.ca |
| 📇 Address | |
| 📞 telephone | |
FaithLife Financial, doing business as Serenia Life Financial, is a member-based life insurance organization that provides insurance and investment solutions to Canadians. Unlike a publicly traded company, Serenia Life commits a portion of its profits to give back to the communities it serves. For example, members have access to a number of benefits, including post-secondary scholarships, free online wills, funding for volunteer work in Canada or abroad, among others.
History[edit]
Serenia Life Financial is a Fraternal Benefit Society that was founded in 1972 as Luthean Life Insurance Society of Canada. The Society was sponsored by two competing American fraternal societies: Aid Association for Lutherans and Lutheran Brotherhood, both of which had been operating in Canada since the late 1920s. The Canadian government granted Letters Patent (petition signing shown above) on June 28, 1972, to formally create Lutheran Life Insurance Society (the "Society"). On July 21, 1972, the Board of Directors enacted Bylaw Number One, which regulated the operation of Lutheran Life.
On December 31, 1972, Aid Association for Lutherans and Lutheran Brotherhood withdrew from Canada. They provided $26.4 million in Canadian assets and more than $167 million of in force life insurance. The Society began operations on January 2, 1973 from its Head Office on the 12th floor of the Marsland Centre in Waterloo, Ontario.
In August 1989, Society staff moved into the newly constructed head office located at 470 Weber Street N. in Waterloo, Ontario.
The Society opened membership to a broader community in July 2004, and to reflect its changing membership, it adopted the trade name FaithLife Financial in March 2005. The membership focus broadened even further in February 2021 to include Canadians who shared the organization's values of showing kindness, giving back, encouraging, serving, leading, and teaching.[1][2] In October 2022, the business rebranded to Serenia Life Financial with a mission to prove a life insurer can be kind.[3][4]
Operations[edit]
Serenia Life Financial is licensed in British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario. Currently, its legal name remains FaithLife Financial.
References[edit]
- ↑ Almazora, Leo (November 16, 2021). "FaithLife Financial revamps life insurance catalog". Wealth Professional Canada. Retrieved 2024-01-08.
- ↑ Yellin, Susan (November 25, 2021). "FaithLife aims to expand its reach". Insurance Portal. Retrieved 2024-01-08.
- ↑ Adriano, Lyle (October 5, 2022). "FaithLife Financial to rebrand as Serenia Life Financial". Insurance Business. Retrieved 2024-01-08.
- ↑ Snape, Gia (2022-11-10). "Serenia Life Financial is on a mission to prove insurance is human and kind". Insurance Business. Retrieved 2024-01-08.
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