Reinsurance News
Canada Life
Canada Life completes £80m pensions buy-in with Safeway Pension Scheme
2nd March 2026
Canada Life, an insurance and financial services company, has completed an £80 million buy-in transaction with the Safeway Pension Scheme, insuring the future benefits of more than 350 deferred members and 1,450 pensioners. The Safeway Pension Scheme is sponsored by Safeway Stores Limited, part of Morrison Supermarkets Group. For the deal, Aon ... Read the full article
Canada Life completes £189m pension buy-in for healthcare sector scheme
22nd December 2025
Canada Life, an insurance and financial services company, has completed a full-scheme buy-in transaction worth £189 million with an unnamed pension scheme in the healthcare sector. This deal successfully secures the future retirement benefits of over 1,100 deferred members and over 600 members with pensions in payment. The buy-in is the result ... Read the full article
Canada Life completes £330m buy-in with Comet Pension Scheme
10th December 2025
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. According to Canada Life UK, the Comet Pension Scheme’s sponsoring employer is part of Fnac Darty, a top European omnichannel retailer of electronics, appliances, and cultural ... Read the full article
Canada Life Re reports 20% increase in base earnings to $265m for Q3’25
7th November 2025
Canada Life Reinsurance, the Capital and Risk Solutions (CRS) reinsurance business of Great-West Lifeco, had a strong third quarter in 2025 with base earnings up 20% from the prior year quarter to $265 million. Alongside the increase in base earnings year-on-year, Canada Life Re's net earnings hit $280 million in Q3'25, ... Read the full article
Canada Life completes third pension scheme buy-in worth £41m with A.G. Barr p.l.c.
7th November 2025
Canada Life, an insurance and financial services company, has completed its third pension scheme buy-in transaction worth £41 million with drinks maker, A.G. Barr p.l.c., safeguarding 300 pension scheme members' future benefits. The beverage manufacturer, whose brands include IRN-BRU, Rubicon, FUNKIN and Boost, and the Trustee board of the A.G. Barr ... Read the full article
Canada Life appoints Dominic Carpenter as Commercial & Strategy Director, BPA
15th October 2025
Canada Life has announced the appointment of Dominic Carpenter as Commercial & Strategy Director, Bulk Purchase Annuities (BPA), effective 6th October 2025. In his new role, Carpenter will lead the commercial development of Canada Life’s bulk annuities business and drive initiatives across commercial strategy, reinsurance, and pricing to support its BPA ... Read the full article
Canada Life Re to cease new business for US traditional life mortality risk reinsurance
25th June 2025
Canada Life Reinsurance, part of financial services holding company Great-West Lifeco, has decided to stop new business for its US traditional life mortality risk reinsurance line, known as U.S. Trad Life, as the firm looks to focus on its core markets. The reinsurer explains that a key driver of its decision ... Read the full article
Sridhar appointed MD for Bulk Purchase Annuities at Canada Life UK
4th April 2025
Canada Life, an insurance and financial services company, has announced the appointment of Shreyas Sridhar as Managing Director of Bulk Purchase Annuities (BPA), effective from 7 April 2025 and subject to regulatory approval. Additionally, Sridhar will also join the Canada Life UK Executive Committee and report to UK Chief Executive Lindsey ... Read the full article
Canada Life completes £361m buy-in with unnamed pension scheme
11th March 2025
Canada Life has completed a £361 million full-scheme buy-in transaction with an unnamed pension scheme, covering over 850 deferred members and approximately 650 pensioners. This is Canada Life’s largest single transaction to date covering deferred lives. Mercer acted as the lead broker and was the Trustees’ de-risking and investment adviser. CMS advised ... Read the full article
Chesnara acquires portfolio with £1.5bn AUM from Canada Life UK
24th December 2024
Chesnara, the European life and pensions consolidator, has acquired a closed portfolio of unit linked bonds and legacy pension business of approximately 17,000 policies and £1.5 billion in total assets under management (AUM) as at 31st, December 2023, from Canada Life Limited (Canada Life UK). The policies are expected to transfer ... Read the full article
Canada Life Re posts Q3’24 earnings of $210m
21st November 2024
Canada Life Reinsurance, a provider of reinsurance solutions for life and health, recorded solid earnings of $210 million for the third quarter of 2024, accounting for 20% of Canada Life Assurance Company's total earnings for the period. For the quarter, Canada Life Assurance Company's base earnings hit a record $1.06 billion, ... Read the full article
Canada Life completes its third deferred member buy-in
3rd October 2023
The Andrews Sykes Group Pension Scheme has insured the benefits of its defined benefit pension scheme with Canada Life in a transaction of £30 million, following a competitive tender process run by leading pensions and financial services consultancy, Hymans Robertson. This now marks the third deferred member transaction Canada Life has ... Read the full article
Canada Life completes £58m deferred member buy-in
27th July 2023
An undisclosed pension scheme has insured the remaining benefits of its defined benefit scheme with Canada Life in a transaction of £58 million, following a competitive tender process run by pensions and financial services consultancy Hymans Robertson. This marks the first ever deferred member transaction Canada Life has completed. The transaction ... Read the full article
Chesnara acquires Canada Life UK’s individual protection business
16th May 2023
Chesnara, a life and pensions consolidator in the UK and Europe, has announced its agreement to acquire the onshore individual protection line of business from Canada Life Limited (Canada Life UK). The transaction involves the transfer of life insurance and critical illness policies for nearly 47,000 customers to Chesnara's UK subsidiary, ... Read the full article
Canada Life set to expand wealth presence with IPC acquisition
4th April 2023
Canada Life, the subsidiary of Great-West Lifeco Inc., has unveiled an agreement to acquire Investment Planning Counsel Inc., an independent wealth management firm, from IGM Financial Inc. (IGM). With this acquisition, Canada Life is extending its wealth management reach and capabilities, promising to help advisors better meet the diverse and changing ... Read the full article
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