Equitable Life of Canada

The Equitable Life Insurance Company of Canada is a Canadian life insurance company that has operated since 1920. The company was founded under a provincial charter as the Ontario Equitable Life and Accident Insurance Company. In 1936, a new company, the Equitable Life Insurance Company of Canada, was incorporated under a federal charter and assumed the operations of the Ontario Equitable Life. Equitable was founded as a joint-stock company, but in 1958 began buying back its stock and in 1963 converted to a mutual. As a mutual company, Equitable has remained an independent, medium-size business despite major consolidation in the industry.