Securian Canada

About Securian Canada

Securian Canada is a Toronto-based insurance provider operating as an independent subsidiary of Securian Financial Group, Inc., a US mutual holding company. The company underwrites its policies through two legal entities:

1. Canadian Premier Life Insurance Company
2. Canadian Premier General Insurance Company

Securian Canada distributes products through banks, credit unions, finance companies, retailers, and affinity groups rather than through the traditional broker channel.

The company covers millions of Canadians and posted $660 million in Canadian direct insurance premiums in 2025. Canadian Premier Life Insurance Company holds an AM Best Financial Strength Rating of A, and MSA Research ranked it 13th in overall Canadian market share for life and health insurance in 2024.

Brief history of Securian Canada

Securian Canada traces its roots to the mid-1950s, when Canadian Premier Life Insurance Company began offering creditor and loan protection products through financial institutions. The company built its business around the financial institution and affinity markets rather than the traditional broker channel. Securian Financial Group, Inc. acquired Canadian Premier and its affiliates in 2017, connecting the Canadian operation to a US parent that dates back to 1880.

The next major chapter came in February 2023. Canadian Premier acquired Sun Life’s Sponsored Markets business, which more than doubled its position in the Canadian market and brought its insured base to millions of Canadians. The company rebranded to Securian Canada shortly after, unifying its operations alongside sister company Valeyo, Inc., a technology and services provider for financial institutions.

From there, the company moved to grow its affinity footprint. In January 2024, Securian Canada launched a fully digital insurance suite for the Canadian Automobile Association’s seven-million-member base. By mid-2025, that partnership had surpassed its sales targets by 133 percent.

That same year, Securian Canada introduced a Creditor Insurance Digital Claims Portal in collaboration with a Tier 1 Canadian bank. It cut claim submission timelines and reduced manual processes for lending partners.

Products and services

Securian Canada offers insurance products across two broad channels: directly to individuals and families, and through institutional partners. Its underwriting entities cover the following product lines:

For individuals and families

• creditor insurance: covers loan and credit balances when unforeseen events occur
• life insurance: financial protection for families distributed through affiliated institutions
• accident insurance: coverage for injuries from unexpected events
• critical illness and sickness insurance: lump-sum benefit for serious diagnoses
• health and dental insurance: coverage for medical and dental costs

For institutional partners and their customers

• credit card protection: balance protection for cardholders through financial institution partners
• mortgage and loan protection: creditor coverage distributed through lenders
• personal protection: individual coverage offered through business and affinity partners
• debt protection: coverage for credit obligations including personal loans and lines of credit
• accidental death and dismemberment: group coverage distributed through institutional channels
• payment protection: coverage for customers of banks, credit unions, and finance companies

Securian Canada does not underwrite through the traditional broker channel. Its products reach end customers through partner organizations, which include more than 6,000 credit unions, banks, and finance companies across North America.

Leadership

Nigel Branker serves as CEO of Securian Canada and holds more than 25 years of business leadership experience. He is a consulting actuary by background and sits on the board of directors of the Canadian Association for Financial Institutions in Insurance (CAFII). Branker holds Fellow designations from both the Society of Actuaries and the Canadian Institute of Actuaries.

Branker leads a Securian Canada senior team that includes:

• Marc Peliel as CFO
• Sara Mazhar as chief technology officer and chief information security officer
• Sharla Postic as chief administrative officer
• Sofia Theodorou as chief human experience officer
• Mark Geldernick as chief legal officer

The Canadian operation is part of Securian Financial Group, Inc., a US-based mutual holding company with more than 140 years in the insurance business. The parent serves more than 23 million customers across North America and manages nearly $1.7 trillion of insurance in force.

Culture at Securian Canada

Securian Canada describes its workplace as high-performing and focused on inclusion. The company has earned Great Place to Work certification for three consecutive years since 2023, based on employee survey results. In March 2026, it received a gold-level Parity Certification from Women in Governance, moving up from a bronze-level certification it held since 2023.

Insurance Business Canada (IBC) named Securian Canada one of our Top Insurance Employers in Canada for 2025. That same year, IBC also recognized the company as an excellence awardee at the 2025 Insurance Business Canada Awards in two categories:

• Life and Health Insurer of the Year
• Excellence in Diversity, Equity and Inclusion

Securian Canada also sponsored the Outstanding Customer Experience category at the same event. Beyond its recognition as an employer, the company offers staff a competitive total rewards package. Its benefits program includes:

• flexible work options with monthly financial support
• paid personal and wellness days
• mental health and counselling support through an employee assistance program
• maternity and parental leave benefits
• RRSP matching of up to 14 percent of combined contributions
• educational funding of up to $3,500 annually
• a paid volunteer day
• career development through coaching and mentorship

On the community side, Securian Canada holds partnerships with two major Canadian sports organizations. It is the official life insurance partner of the Canadian Football League and serves as presenting sponsor of the CFL’s Diversity in Football program, which builds pathways for people from diverse backgrounds into professional sports.

The company also holds an official life insurance partnership with the Toronto Maple Leafs. It serves as presenting sponsor of the MLSE Foundation’s Home Ice Hockey program. This gives youth in underserved communities across the Greater Toronto Area access to free equipment, coaching, and ice time.

In 2025, Securian Canada published its inaugural Beyond Business Report. The report outlines the company’s inclusion strategy and community initiatives from 2024.