WATERLOO, ONTARIO Clarica Life Insurance Co. has broadened its distribution agreement with Allstate Insurance Co. of Canada, in Markham, Ontario, by giving Allstates Canadian agents access to Claricas market-based funds.
The two first joined forces in 1998 in a partnership that let Allstate agents sell selected Clarica products, including life and health insurance. In the expansion announced Monday, the more than 450 Allstate agents in Canada will get referral fees for sending customers seeking mutual funds to Clarica agents.
Clarica serves nearly three million customers in Canada and 225,000 in the United States, offering individual and group insurance as well as savings and retirement products.
Allstate Insurance Co. of Canada provides personal, home, and automobile insurance products and is a subsidiary of Northbrook, Ill.-based Allstate Corp.