As early as 1950, Toronto's economic activity surpassed Montreal's with regards to stock market trading and capitalization. For the first half of the 20th century, the city of Montreal had been the economic hub of Canada, but it was losing ground to Toronto.
The Sun Life Company also reports that this building ".and its basement was the secret storage location of British securities during World War II." Post-World War IIĭuring the post-war period, the company's successful business strategies made it one of Montreal's largest white-collar employers, one of the top corporations in Canada, as well as a global player in the life insurance field. In World War II the British Crown Jewels as well as the gold reserves of several European countries were moved to what is now known as the Old Sun Life Building for safekeeping. Sun Insurance WWII memorial, now at the UK's National Memorial Arboretum World War II James Street in Montreal was taller by several floors, the Sun Life Building was at the time the largest building in terms of square footage anywhere in the British Empire. Although the new head office of the Royal Bank of Canada at 360 St. Capping a Montreal construction boom that began in the 1920s, the company completed construction of the expansion of its headquarters with its new 26-storey headquarters north tower in 1933. The company's original Dominion Square building in Montreal was built in 1918. During the next five decades the company grew and prospered, surviving the difficulties of World War I and the large drain on its finances through policy claims arising from the large number of deaths caused by the Great Flu Epidemic of 1918. By the end of the nineteenth century it had expanded to Central and South America, the United States, the United Kingdom, West Indies, Japan, China, India, North Africa and other international markets. Sun Life ranks number 236 on the Forbes Global 2000 list for 2010.įounded in Montreal, Quebec, as The Sun Insurance Company of Montreal in 1865 by Mathew Hamilton Gault, an Irish immigrant who settled in Montreal in 1842, its operations actually began in 1871. Based in Toronto, Canada, Sun Life and its partners provide insurance, retirement and investment solutions for individuals and businesses around the world including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. is an international financial services company known primarily as a life insurance company. Saunders, Chief Information Officerįinancial Services, Financial planning and advice, Life insurance, Health insurance, dental insurance, disability insurance, Investments and retirement savingsĢ9,180 including India and China joint venture company employees (2008) Dougherty, President (Canada Sun Life Global Investments)
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