Our international business offers a variety of international solutions which are designed to grow our customers’ savings and investments. Our services include international investment, estate planning and protection solutions. With over 30 years of unrivalled strength our international business has £19.23bn assets under administration (as at 31/03/21), with the added stability of being part of Great-West Lifeco. All of this is backed by our highly regarded service, technical expertise and award-winning products and proposition.
Canada Life – A global business
Our priority at Canada Life is to meet our customers’ needs. To achieve that we focus on being stable, reliable, and informed by experience. We’re proud that our international business is based in the Isle of Man and Ireland, two of the world’s leading international financial centres.
Isle of Man – A lasting commitment
Canada Life International Limited (CLI) and CLI Institutional Limited (CLII) are based in the Isle of Man and we are confident in our lasting commitment to the Isle of Man. Now one of the world’s leading international financial centres it is renowned for quality financial services and built on unrivalled accessibility and ease of communications. The Isle of Man has a reputation centred around stable government, strong regulatory controls and policyholder protection.
CLI has served the UK international bond market for 31 years and remains one of the leading international providers. Whilst sensitive to the need to deliver value for money products, the company remains committed to its high degree of technical competency, believing that technical support for advisers remains critical. CLI is the only international company to have received a five-star financial strength rating from actuarial consultancy firm, AKG for eighteen consecutive years.
CLII continues to receive exceptional ratings from specialist, independent agencies in relation to financial strength, unit-linked business, and commitment to service, including a five-star AKG rating in 2020. Through CLII, ultra high net worth customers can obtain a level of policyholder protection, that is not otherwise currently available in the international UK market. It provides expertise in wealth management solutions for UK residents.
Both companies work in close partnership with some of the world’s largest investment specialists.
Ireland – Strength and Stability
Canada Life International Assurance (Ireland) DAC (CLIAI) is based in Dublin, recognised as one of the world’s leading financial centres. It boasts a strong commitment to international financial standards and policyholder protection. Our aim is to provide sophisticated solutions. One of the key benefits for investors of Ireland is that there’s no VAT to pay on discretionary fund manager’s charges. We also do not pay any capital gains tax or income tax in Ireland on investments held on behalf of policyholders. We’re proud that CLIAI is given five stars by Actuarial consultancy firm, AKG. You can find more information about CLIAI in our Solvency and Financial Condition Report.
The United Kingdom left the European Union on 31 January 2020 moving into a transition period where EU rules and regulations continued to apply. The transition period ended on 31 December 2020 and this Brexit Q&A is intended to provide information on how this may impact you as a policyholder.
The answers in this Brexit Q&A are based on our current understanding of the situation and are subject to change. If you have any other questions you should speak to your adviser as they will have the best understanding of your personal financial situation.
We continue to monitor the situation closely and can assure you that our aim is to continue to service our customers as we do now. Our international business will continue to offer the choice of Isle of Man and Ireland jurisdictions to advisers and clients.
A 120-year international heritage
We’re proud of our heritage. All of Canada Life International’s businesses are part of Great-West Lifeco, one of the largest financial services organisations in the world, with interests in life insurance, health insurance, investments, retirement savings and reinsurance. The ethos of our parent company, and their focus on putting the long-term needs of customers first, prevails throughout our businesses, and is one of the reasons why we have successfully looked after the financial futures of so many clients for so many years.
Together with Great-West Lifeco’s other subsidiaries, we serve the financial needs of more than 30 million customers and have more than £1.149 trillion in assets under administration (at 31 December 2020).
Our awards and ratings
A true reflection of the quality of a company’s proposition is the feedback, awards and ratings which it receives from those individuals and firms who recommend its product and services.