The Independent Order of Foresters,

operating as A trade name, trading name, or business name is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is fictitious business name. Registering the fictitious name with ...

Foresters Financial, is a

fraternal benefit society A benefit society, fraternal benefit society, or fraternal benefit order is a voluntary association formed to provide mutual aid, benefit, for instance insurance for relief from sundry difficulties. Such organizations may be formally organized with ...

headquartered in

Toronto Toronto ( , locally pronounced or ) is the List of the largest municipalities in Canada by population, most populous city in Canada. It is the capital city of the Provinces and territories of Canada, Canadian province of Ontario. With a p ...

, Ontario, Canada, that provides

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typical ...

and other financial solutions in Canada, the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

, and the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

. As of 2024, Matt Berman has served as the company's president and CEO.

History

Foresters traces its origins to a British Friendly Society, a mutual organization caring for the sick. Membership was originally gained by combat, first with

quarterstaff A quarterstaff (plural quarterstaffs or quarterstaves), also short staff or simply staff is a traditional European polearm, which was especially prominent in England during the Early Modern period. The term is generally accepted to refer to a s ...

s, then with swords and finally with cudgels, until initiation by combat was abandoned in 1843.Foresters in Marin County, California
(freemasonry.biz) In 1834, the Royal Foresters formed a Friendly Society, the

Ancient Order of Foresters The Foresters Friendly Society is a British friendly society which was formed in 1834 as the Ancient Order of Foresters. As of 31 December 2016, the society had approximately 75,000 members. Its head office is located in Southampton, England. ...

(AOF). The Independent Order of Foresters (IOF) in the United States became independent of the AOF in 1874.135th Anniversary (1874-2009)
The expansion of the IOF into Canada in 1875 is attributed to a doctor and community leader, Oronhyatekha. Of Mohawk descent, he was born in 1841 at Six Nations near present-day

Brantford, Ontario Brantford (Canada 2021 Census, 2021 population: 104,688) is a city in Ontario, Canada, founded on the Grand River (Ontario), Grand River in Southwestern Ontario. It is surrounded by County of Brant, Brant County but is politically separate wi ...

, Oronhyatekha ("Burning Sky") was baptized Peter Martin and later attended Oxford, where he became a medical doctor. Dr. Oronhyatekha held the office of Supreme Chief Ranger (now called "International Fraternal President") from 1879 until 1906; he died in 1907.Our Story
at Foresters135.com Foresters membership reached 257,000 in 1906. Through the 20th century it amalgamated with various other fraternal organizations, including the Ontario part of one of the oldest, the Ancient Order of United Workmen, acquired in 1926, the Modern Brotherhood of America, acquired in 1931, and the Order of Scottish Clans, acquired in 1971. Like other friendly societies and fraternal organizations of the time, Foresters helped transform the

insurance industry Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

by extending insurance benefits to the average working family. In addition to admitting women as full members, Foresters provided orphan benefits to the children of deceased Foresters members. Foresters acquired Unity Life of Canada in 2008, which subsequently rebranded as Foresters Life Insurance Company in January 2012. As of 2014, Foresters Financial operated a separate UK division based in South London. In April 2019,

Macquarie Group Macquarie Group Limited (), more commonly known as Macquarie Bank, is an Australian multinational investment banking and financial services group headquartered in Sydney and listed on the ASX (). Macquarie's investment banking division is Au ...

's investing division agreed to buy $12.3 billion in assets from Foresters Financial, including Foresters' First Investors mutual funds business. In the same year, the company sold its U.S. broker-dealer to

Cetera Financial Group Cetera Financial Group (commonly referred to as Cetera) is an independent wealth hub and financial services provider comprising, among other companies, one of the largest families of independent registered investment advisers and broker-dealers i ...

, in efforts to focus on life insurance. In May 2019, Foresters sold its Canadian money management unit, Foresters Asset Management, to Fiera Capital. In October 2019, the company sold Foresters Financial Holding and Foresters Life Insurance and Annuity Company to Nassau Financial Group. In October 2020, Foresters Financial acquired

distributor

Canada Protection Plan Canada Protection Plan () is a Canadian life insurance distribution company headquartered in Toronto, Ontario. Founded in 1992, its primary product is "no medical and simplified issue" life insurance sold directly and through a network of insura ...

. Canada Protection Plan was

rebranded Rebranding is a marketing strategy in which a new name, term, symbol, design, concept or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors ...

as "Canada Protection Plan, a Foresters Financial company". In July 2021, Foresters invested in a capital project to transform the UK London office. As part of Foresters sustainability roadmap, Renewable Energy Generation Assets and Energy Saving Products were utilized. The investment will reduce the CO₂ emissions by up to 10,000 kg per year. In 2024, Foresters reached 150 years in business, serving 2.6 million clients and families in Canada, the US and the UK. The company continues to invest and support the community, including partnership with nonprofit KaBOOM!, which has helped Foresters build more than 170 playgrounds across the U.S. and Canada since 2006.

Products

Foresters Financial offers term and permanent policies, including: * Term life insurance policies lasting 10, 20, or 30 years. * Three types of Whole Life insurance covering children, all ages and 50-85. * Various policy riders to cover spouses, children, disability and death benefits. The company's structure as a fraternal organization also includes benefits such as discounted legal services, scholarships, and community grants.

References

External links

*{{official website, https://www.foresters.com/ Financial services companies established in 1874 Organizations established in 1874 Fraternal orders Mutual organizations Philanthropic organizations based in Canada Life insurance companies of Canada Financial services companies based in Toronto 1874 establishments in Ontario

History

Products

See also

References

External links