Reinsurance News

Canada Life

Canada Life secures £146mn bulk annuity deal with Smiths Industries

17th November 2020

Canada Life has secured their tenth bulk annuity purchase, a £146 million bulk annuity with the Smiths Group pension scheme. The £3 billion Smiths Industries Pension Scheme has secured the bulk annuity with Canada Life after the auction process was redesigned to accommodate the post-COVID-19 market conditions. The transaction was described as having taken ... Read the full article

Canadian Premier acquires Gerber Life Canadian policies

13th February 2020

Canadian Premier Life Insurance Company has entered into an agreement to acquire a block of Canadian life insurance business from U.S. domiciled Western & Southern Financial Group. The block of Canadian life insurance business is marketed under the Gerber Life brand and includes individual life insurance policies, primarily the Grow Up ... Read the full article

Aon secures eighth bulk annuities purchase across Smiths Group pension schemes

3rd July 2019

Global re/insurance brokerage Aon has now secured eight bulk annuities across the Smiths Group's two pension schemes, totalling approximately £1.6 billion. The £3 billion Smiths Industries Pensions scheme has secured its eighth bulk annuity purchase and its second with Canada Life. The new £176 million bulk annuity is part of a ... Read the full article

Canada Life completes largest bulk buy-in transaction to date

18th December 2018

Canada Life has completed a £625 million buy-in of the Reuters Pension Fund, making it the insurers’ largest ever deal. The transaction is the first in a framework of buy-in transactions for the scheme and covers the majority of pensioner liabilities in the £2.2 billion fund. “The magnitude of this deal reflects ... Read the full article