I n the first half of the 20th century, Quebecers felt a pressing need to develop the instruments required for their economic growth. Because most of them were living with limited financial resources, family, friends and neighbours were used to give a hand when needed. So it was relatively easy to convince them to combine their financial resources to build up the capital needed for emergencies.

Among the financial institutions that emerged from this drive for economic nationalism was the mutual assistance society L'Entraide assurance-vie, which grew out of beneficent societies (Cercles de philanthropes), a concept borrowed to our neighbours from the south.

Before the Quiet Revolution, there were beneficent societies in various places in Quebec. Each society was divided into sub-groups. When someone died, each member paid in a dollar so that $980 could be given to the family of the deceased and $20 could be used for the celebration of a mass. However, beneficent societies offered no guaranteed benefits. To remedy this situation, members of the Cercle des Philanthropes de Québec founded their own legally constituted life insurance company in 1967. It became known as L'Entraide assurance-vie in 1977 and as L'Entraide, Mutual Life Insurance Company in 1997.

On January 15, 2004, regulatory authorities granted the Company more powers including the permission to practice property and casualty insurance. In order to take this into consideration, the Company has changed its name for L'Entraide Assurance Mutual Company. A new trademark has also since then been adopted: L'Entraide Assurance.