£6.25bn Bulk Annuity premiums 3
Bulk Annuities
Where financial strength meets a member-focused experience
At Canada Life UK, we’re building stronger, more secure financial futures.
Core to our value proposition is our solid financial foundation, our flexible and collaborative approach to every scheme, and our commitment to supporting your members through the moments that matter.
Our extensive experience with annuity products means that we’re able to price our tender competitively, manage risk effectively, and provide excellent administration for your scheme.
We're invested for the long term to create lasting value for our customers and partners.
Our financial strength and security
We’re part of the Great-West Lifeco group, so when you work with us, your bulk annuity scheme is in safe hands.
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Years of history
£0 billion
Assets under administration 1
CC+
Ratings from Fitch, Morningstar DBRS and S&P Global 2
Our proven credentials
£2m to £750m+ transactions ranging in size from micro to large 3
19 to 2,900+ Bulk Annuity membership sizes 3
Marking 10 years in the bulk annuities
In 2025, we celebrated a decade in the bulk annuities market. We’re excited to build on this strong foundation and deliver solutions for the full range of pension schemes. In years ahead, we’ll continue to adapt to the market’s changing needs and evolving priorities.
Hear from Shreyas Sridhar, Managing Director, BPA
Trusted experts
Meet our Bulk Annuities experts
We’ve invested heavily in expanding our team, bringing in talent and enhancing our offering.
We aim to offer best-in-class service at each stage of the process.
This starts right from initial conversations, through to the full transfer of your scheme, and then to your members’ retirements.
We build lasting relationships and will partner with you to ensure that your members are fully supported.
Stewardship and sustainability
As our world and customers’ expectations change, we’re adapting to meet their needs in the future.
This means that sustainability and stewardship considerations form part of our holistic investment decision-making process.
We believe the best way to serve our customers’ and clients’ financial security needs is by making disciplined choices to deliver resilient, long-term risk-adjusted returns.
We’re proud that Canada Life Limited has been awarded UK Stewardship Code signatory status.
Bulk annuities news
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Canada Life completes £330m full scheme buy-in with the Comet Pension Scheme
Canada Life UK has completed a £330 million full-scheme buy-in transaction with the Comet Pension Scheme, securing the future benefits of 4,500 pension scheme members.
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Canada Life completes third pension scheme buy-in with A.G. Barr p.l.c.
Canada Life secures £41m buy-in with A.G. Barr, protecting pension benefits for 300 members in final phase of Scheme’s de-risking journey.
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Canada Life appoints Dominic Carpenter to lead BPA commercial strategy
Canada Life has appointed Dominic Carpenter as Commercial & Strategy Director, Bulk Purchase Annuities (BPA), effective 6 October 2025.
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Canada Life appoints new Managing Director for its bulk annuities business
Canada Life has appointed Shreyas Sridhar as Managing Director of Bulk Purchase Annuities (BPA), effective from 7 April 2025 subject to regulatory approval.
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Unnamed pension scheme completes £361m full scheme buy-in with Canada Life
An unnamed pension scheme has completed a £361m full scheme buy-in transaction with Canada Life, covering over 850 deferred members and approximately 650 pensioners.
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KION Group completes £250m full scheme buy-in with Canada Life
KION Group has completed a circa £250m full scheme buy-in transaction with Canada Life. The deal covers five different UK DB pension schemes2 within the group, covering the benefits of over 3000 members.
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Canada Life completes £72m full scheme buy-in
The DAS Legal Expenses Insurance Company Limited Pension and Life Assurance Scheme has completed a £72m full scheme buy-in transaction with Canada Life, securing the benefits of 444 deferred members and 134 pensioners. WTW led the advice to the Trustees on the transaction.
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Canada Life boosts bulks team with appointment of Shreyas Sridhar
Canada Life has appointed Shreyas Sridhar as its’ new Business Development Director for Bulk Purchase Annuities, reporting in to Tim Coulson, MD, Bulk Purchase Annuities.
Bulk annuities explained
Notes:
- As at August 2025. Please note that AUA is a non-GAAP financial measure. Additional information regarding this measure is incorporated by reference and can be found in the "Non-GAAP Financial Measures and Ratios” section of Great-West Lifeco's 2024 Annual MD&A, available at www.sedarplus.com.
- AA ratings for financial strength. Available at https://www.greatwestlifeco.com/investors-analysts/ratings.html. Please note that the public credit ratings refer to Canada Life Assurance Company (CLAC) – a Canadian regulated entity. Canada Life Ltd (CLL) is a 100% owned subsidiary of CLAC. As CLL raises no public debt, it does not have a public credit rating.
- Figures as at 31st July 2025