If you've been searching for RBC Liberty Insurance, you've probably discovered that it's really hard to locate these days.
There IS a simple reason for that difficulty, so don't don't take it personally. You aren't terrible at surfing the net! :)
The truth is that RBC Liberty Life Insurance is no more. Well, I guess that's not exactly accurate.
The company is just not called by that name any longer because the Royal Bank of Canada sold it off to another party.
The story of RBC Liberty Insurance is rather long and convoluted. Here's the gist in a nutshell.
Basically, the Royal Bank of Canada purchased Liberty Life Insurance back in 2000. It was referred to as RBC Liberty Insurance up until 2006 when they merged a couple of their insurance entities to rebrand as RBC Insurance.
The idea was to service all of their US customers with this newly branded insurance.
Well, that didn't last long! For whatever reason, RBC decided to sell off the Liberty portion of their insurance empire in 2010 to a US based company called Athene Holding, LTD, which is located in Birmingham, Alabama.
The transaction wasn't finalized until 2011, but that's where you'll find the former RBC Liberty Insurance company.
My guess (based on research, of course) is that they weren't making as much money as they had predicted after a few years and so they offloaded that segment of their holdings while they could.
I also read that the rules and regulations (seemingly from the US side of things) had become more strict and restrictive, which was costing them more money than they wanted to spend. These decisions are almost always profit and loss based. We ARE talking big business! ;)
Of course, the Royal Bank of Canada hasn't sold off all of their insurance properties. I'm sure they are much too lucrative for that. So, if you are trying to find RBC auto insurance or RBC life insurance, you're in luck!
Start by getting a free quote from Kanetix. They'll bring you back a variety of auto insurance quotes from RBC as well as some of the other leading Canadian car insurance providers (or US insurers if that's where you're from).
In fact, RBC has a whole range of insurance options available for those wanting their coverage associated with the Royal Bank of Canada. Apart from the auto and life I just mentioned, you can easily get coverage for health, mortgage, home, loan, etc.
Whether it's personal or business insurance, there is a pretty good chance that they'll have what you're looking for.
Is there any benefit to holding your insurance policies with RBC? You tell me! Being a US and Australian resident, I've never actually had dealings personally with RBC.
I suppose it's possible that statement may not be completely true. It's often difficult to know who owns interests in which companies at all times, so there's a chance that I've dealt with an auto insurance company that had ties to the RBC, although I'm not aware of it.
What about you? Have you had experience with RBC auto insurance, life insurance, or any of the others? Feel free to give them a rating. We always encourage real stories from real people. Add yours.