Desjardins Financial Security has obtained two contracts totalling more than $100 million in group retirement savings.

The life and health insurance company of the Desjardins Group was selected to provide life annuities for the 375 retired employees of the companies recently acquired by CGI, the number one independent information technology services firm in Canada, and fifth in North America.

This sale comes after another contract closed earlier in 2003. In October, Desjardins Financial Security was also chosen to guarantee the retirement income for the ex-employees of Jeffrey Mines.

“We obtained these contracts as a result of our very competitive offer, our ability to set up plans on very short notice and our excellent reputation,” said Monique Tremblay, senior VP of savings and segregated funds at Desjardins Financial Security.

These contracts fit in perfectly with Desjardins Financial Security’s mission to ensure financial security to its clients. “When markets are volatile and interest rates are as low as they are now, life annuities are an excellent means of protecting workers’ assets for their retirement,” said Tremblay.