Canada Life has achieved a financial strength rating of ‘A, Superior’ - the highest accolade possible - across each of its international life companies, from the financial analytics and independent ratings specialist, AKG.
It is the second year that Canada Life International Ltd, CLI Institutional Ltd, and Canada Life International Assurance (Ireland) DAC, have achieved the ‘A, Superior’ rating. In addition to overall financial strength2, the companies were assessed on several supporting assessment areas, including Image and Strategy, and Business Performance.
The assessment areas, known as Supporting Ratings, were scored out of a possible five stars. Each company achieved the maximum score against all categories.
Canada Life International has sustained five stars for all Supporting Ratings since 20153.
Sean Christian, Chief Executive, Canada Life International & Managing Director – Wealth Division, Canada Life UK commented:
“AKG is widely known as the gold standard in assessing international bond providers, and we are delighted to have achieved their highest possible ratings once again.
“We are also proud to have sustained 5-star ratings in all supporting assessment areas for the past decade.
“Our International business is having another exceptionally strong year. Our H1 inflows were at a record level, following 2024, which was also a record year. Our breadth of proposition clearly resonates with advisers and is delivering real value to their customers.
“In an uncertain and evolving financial climate, advisers and their customers need reassurance that providers are stable and reliable, whilst still committed to innovation and the market. The AKG assessment references our parental ownership, Great-West Lifeco, one of the oldest life companies in Canada. Our industry has experienced numerous ownership changes through private equity investment and disinvestment, and it is clear from speaking to advisers that they and their clients value the long-term certainty and stability that our parental ownership gives them.”
-ENDS-
Notes to editors
- Canada Life International Ltd, CLI Institutional Ltd, and Canada Life International Assurance.
- Additional Financial Strength ratings for: Non Profit Financial Strength, Unit Linked Financial Strength, & With Profits Financial Strength
- Canada Life International Ltd, CLI Institutional Ltd, and Canada Life International Assurance have achieved a 5-star rating in Service, Image and Strategy and Business Performance since 2015.
Enquiries:
Press enquiries should be directed to:
Katie Ormrod,
Canada Life UK,
+44 7834 740227, Katie.Ormrod@canadalife.co.uk
About Canada Life:
Canada Life is part of a group of companies controlled by Great-West Lifeco Inc., a Canadian headquartered, international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Through its subsidiary companies, Great-West Lifeco operates in Canada, the United States, and Europe. Great-West Lifeco trades on the Toronto Stock Exchange under the ticker symbol GWO and is a member of the Power Corporation group of companies.
Canada Life Limited began operations in the United Kingdom (UK) in 1903 and provides UK individuals and businesses with a range of retirement, investment, insurance and wealth solutions. Canada Life offers individual annuities, pension de-risking solutions, home finance, estate planning and investment options, and workplace protection products.
Canada Life Limited (no.973271) is registered in England and Wales, authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Stonehaven UK Limited (no.05487702), trading as Canada Life, is registered in England and Wales and is authorised and regulated by the Financial Conduct Authority. Canada Life International Limited (no.033178C) and CLI Institutional Limited (no.108017C) are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority. Canada Life International Assurance (Ireland) DAC (no. 440141) and Canada Life International Assurance (Ireland) DAC are authorised and regulated by the Central Bank of Ireland.
Canada Life Asset Management is the brand for investment management activities undertaken by Canada Life Asset Management Limited (no.3846821), Canada Life Limited and Canada Life European Real Estate Limited (no.03846823). Canada Life Asset Management Limited is authorised and regulated by the Financial Conduct Authority.
Please note that while Canada Life Limited and Canada Life Asset Management Limited are regulated as stated above, property management and the provision of commercial mortgages are not regulated activities.
www.canadalifeassetmanagement.co.uk