Protect your members and reduce your liability
Our ambition is to be a leading bulk annuities provider, offering financial security to a range of schemes; whether big or small. We’ll use our strength and expertise to deliver lasting financial security to pension schemes and retirees.
We’re part of the Great-West Lifeco group which means when you work with us, your bulk annuity scheme has been placed in the secure hands of a Financial Times Global 500 constituency company.
With roots dating back to 1847, Great-West Lifeco is the oldest Canadian life assurance provider.
Canada Life entered the UK market over 120 years ago, building on the heritage of our founding company. Providing retirement, investment and protection solutions to individuals, families and companies.
We believe that there are growth opportunities in the bulk annuity market. That’s why a key component of our growth strategy is to invest in the development of our offering to the market.
However, we understand the importance of making the right decisions to protect both our customers and business. To ensure this, we adopt a safety-first decision making mindset and take a long-term approach when considering risk. And as a business, we consistently receive strong ratings:
Our asset management team has a record of sourcing attractive assets, which allows us to offer competitive pricing to our clients and customers.
We’ve got a proven track record of putting customers first with:
We want to be there for customers and give them access to financial products that give them security.
Find out more about our member experience and administration here.
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.
Great-West LifeCo AUM: this 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 2023 Annual MD&A, available at www.sedarplus.com.
Annuities AUM: this is a non-GAAP financial measure that does not have a standard meaning prescribed by GAAP (IFRS) and is not directly comparable to similar measures used by other companies.
KION Group has completed a circa £250m full scheme buy-in transaction with Canada Life. The deal covers five different UK DB pension schemes within the group, covering the benefits of over 3000 members.
The Norgine Limited Retirement Benefits Scheme has insured the benefits of its defined benefit pension scheme with Canada Life in a full buy in transaction of £28m, following a competitive tender process run by Mercer.
The transaction was completed using WTW’s Streamlined Bulk Annuity Service, with legal advice provided by Burges Salmon. Canada Life received legal advice from its in house legal team.
