Canada Life International1 achieves top financial strength rating from AKG
Canada Life has been awarded a financial strength rating of ‘Superior A’ – the highest accolade possible - across each of its international life companies, from the financial analytics and independent ratings specialist, AKG.
Canada Life International Ltd, CLI Institutional Ltd, and Canada Life International Assurance have all been upgraded to the top financial rating in the latest assessment. As well as financial strength2, the companies were assessed on their Service, Image and Strategy, and Business Performance.
The assessment areas that inform the overall ‘Superior’ rating, were scored out of a possible five stars. Each company achieved the maximum score against all categories.
Canada Life International Ltd has achieved a 5-star rating in Service and Business Performance since 20043, which is unmatched by any other offshore provider. For the past ten years, since 2015, Canada Life International Ltd, CLI Institutional Ltd, and Canada Life International Assurance have all achieved a five-star rating across all categories of Service, Image and Strategy and Business Performance too.
Sean Christian, Chief Executive, Canada Life International & Managing Director – Wealth Division, Canada Life UK commented:
“AKG is recognised as the leading independent assessor of providers in the international bond market and used extensively by adviser firms when deciding who they wish to partner with. We are therefore delighted that AKG has once again recognised the financial strength of our offshore entities and our market leading position.
“The products we offer are designed for the long-term needs of our customers, and we know that advisers need assurance that providers are committed to the market. The strength that comes from being part of a global business with deep history in the UK and a longstanding commitment to our international businesses in the Isle of Man and Dublin puts Canada Life at a distinct advantage in this space. We look forward to supporting our UK adviser relationships for decades to come.”
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Notes to editors
- Canada Life International Ltd, CLI Institutional Ltd, and Canada Life International Assurance.
- Includes: Non Profit Financial Strength, Unit Linked Financial Strength, & With Profits Financial Strength
- Canada Life International Ltd has achieved a 5* in Service and Business Performance since the first report in 2004 (published 27/10/2004 based on 2003 year end information).
Enquiries:
Press enquiries should be directed to:
Elle McAtamney, Canada Life, 07913 568213, elle.mcatamney@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