Type Subsidiary Headquarters Toronto, Canada Founded 1847 | Website Canada Life CEO Allen Loney (2008–) | |
Industry Financial Services (Insurance) Key people Paul A. Mahon, President and Chief Executive Officer Parent organization The Great-West Life Assurance Company Subsidiaries Classco Benefit Services, Ltd. | ||
Canada Life Financial Corporation (French: Corporation Financière Canada-Vie), is a Canadian company that offers life, health, and disability insurance for groups and individuals.
Founded in 1847, it was acquired by The Great-West Life Assurance Company in 2003, after rejecting a hostile takeover bid by rival Manulife. Hugh Cossart Baker, Sr. established the first life insurance company in Canada 21 August 1847; the Canada Life Assurance Company. The firm was incorporated in 1849. The first head office was in Hamilton, Ontario on the top floor of the Mechanics' Institute on James Street near Merrick, where the Hamilton City Centre (formerly the Eaton's Centre) now stands. The head office remained in Hamilton until 1900, when the new president George Cox moved it to Toronto. He was the father of telephone pioneer Hugh Cossart Baker, Jr..
Canada Life is based in Toronto, Ontario at the historic Canada Life Building on University Avenue. It also commissioned the Canada Life Building in Montreal.
Besides Canada, Canada Life has offices in:
Canada Life in the UK
Canada Life began operations in the United Kingdom in 1903.
Canada Life Investments– The asset management division of the UK business providing investing solutions in equities, fixed income and property. They also offer a range of open-ended funds (OEICs) that cover UK and international equities and bonds, as well as multi-asset solutions.