As a result, Gault was asked to resign and Macaulay was made managing director and elected to the board. This conflict of interest created particular distress for the company. Sun Life faced its first crisis in 1882–83, when investments it had made into companies controlled by Mathew Gault (particularly the Exchange Bank of Canada, and the Montreal Loan and Mortgage Company) incurred considerable losses. Due to this international growth, as well as growth across Canada, the name of the company was changed, in May 1882, to The Sun Life Assurance Company of Canada. Sun Insurance Company’s first international growth occurred in 1879–80 when it expanded into much of the West Indies. This distinguished Sun Insurance from its competitors, and sales by agents began to increase more quickly. In 1880, the company introduced the first unconditional insurance policy in Canada, in which all restrictions, prohibitions and limitations in the insurance contracts were removed. The company’s first secretary, Robertson Macaulay (appointed in 1874), presented a plan for growth that included expanding the number of selling agents and introducing innovative insurance products. However, death claims under its issued life insurance policies were low, so the company survived. Poor trade and economic conditions for Canada also slowed the company’s growth ( see Economic History). Sun Life issued its first insurance policy on. Gault was appointed as the first managing director, and the company engaged its first agents to sell Sun Life insurance in Toronto.
Due to the uncertainty of government at the time, and with Confederation occupying the businessmen’s attention, it was not until six years later that the company actually began operations. It was approved for operations by the Legislative Assembly of the Province of Canada on 18 March 1865. When in doubt, contact Sun Life directly for confirmation.The company was formed by a group of Montréal’s leading businessmen as the Sun Insurance Company of Montreal. Other red flags that indicate a scam include: poor spelling and grammar in the job advertisement telephone numbers and email addresses not attributable to Sun Life and interviews using instant messenger. Please know that Sun Life will never ask for financial information or up-front fees as a requirement to obtain a job.
They may tell you that the information is needed for so-called up-front fees or payment for job training or other work materials. Their goal is to get you to share your bank account, credit card or other personal or financial information. Some fraudsters may also reach out to you unsolicited via text, phone call, Skype or other means. The false jobs are advertised through various means, including newspapers, magazines, fake websites and legitimate recruitment websites. There are a number of ongoing job scams in which fraudulent people pose as employees of companies like Sun Life and falsely offer jobs.
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