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1905
Foundation of Industrial Life Insurance Company
On May 15, 1905 in Quebec City,
Mr. Bernard Leonard, a master painter of Irish origin, and a few influential
businessmen obtain, after lengthy negotiations, a life insurance company
charter in the name of Industrial Life Insurance Company.
The company remains under the direction of the Leonard family until 1950,
when it is taken over by Crédit interprovincial Ltd.
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The First Client |
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In the beginning, it only takes six employees
to run Industrial Life Insurance Company in Quebec City. On November
15, 1905, the Company sells its first policy that insures the life
of a 15 day old baby. The baby dies two weeks later and the Company
pays its first benefit in the amount of $5.05 to the baby's mother.
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Bernard Leonard, first
president of Industrial Life Insurance Company. |
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