Shareholders, voting policyholders and invited guests attending the last official annual meeting of Clarica Life Insurance held at the Waterloo, Ont. headquarters, were given a brief trip back in time and also provided with a view of the future in a speech by Bob Astley, president and CEO.

Astley told his audience that since 1871, a total of 132 annual meetings have been held. “We were the Ontario Mutual Life Assurance Company then. It wasn’t until 1900 that we became Mutual Life of Canada, and another 99 years would pass before we became Clarica.”

He said the 1871 gathering was held on a clear and cold Wednesday in February. Cash on hand was a shade under $1,500 and total assets were $6,216.33, part of that total being uncollected premiums.

At the end of 2001, Clarica’s total assets under administration totaled $47 billion and it had more than 8,000 staff and agents serving over three million Canadian customers.

“Looking back from our first annual meeting to this one, there seems at first glance to be a vast difference. Granted, the numbers were decidedly smaller, but there are some strong similarities with that first meeting and the overall mood today”, Astley said.

“One can feel the sense of excitement and confidence about the future. In the Sun Life Financial/Clarica combination, we have the strongest beginning imaginable. Together, our strengths add up to create a financial services powerhouse that, we believe, will provide even greater reward to our investors. So, a great place to start but still plenty of room to grow.”

He said the new organization will feature substantial operations at four major sites: Toronto, Montreal, Ottawa and in Kitchener-Waterloo. Canadian headquarters will in Kitchener-Waterloo, where Clarica began.

Donald A. Stewart, chairman and president of Sun Life Financial told the audience that “standing here today in Clarica’s headquarters, I am reminded that both our companies were born in Canada. We have a proud history here at home. And today, as one, we will build an exciting international future together.”