September 14, 2017
Canada Life Reinsurance enters into £1.7bn longevity risk reinsurance agreement with MMC U.K. Pension Fund
Tom O'Sullivan, General Manager of the Barbados Branch of Canada Life commented "I am pleased to announce this major reinsurance agreement, which reflects our ability to collaborate effectively with the MMC U.K. Pension Fund to create a solution to efficiently hedge their longevity risk."
Jeff Poulin, Global Head of Canada Life Reinsurance, added "This transaction highlights our expertise in underwriting large, complex and innovative risk transfer initiatives together with the value of our financial strength."
Canada Life Reinsurance offers a range of innovative risk and capital management solutions covering mortality, longevity, health and lapse risks for insurers, reinsurers and pension funds across the U.S. and Europe. Canada Life Reinsurance continues to develop innovative reinsurance solutions it offers to insurers and reinsurers in many European markets including the Netherlands, the U.K., France, Germany, Italy, Spain, Portugal, Sweden, Belgium and Ireland.
About Canada Life
Canada Life is part of a group of companies owned by Great-West Lifeco Inc., a diversified financial services holding company headquartered in Winnipeg, Canada. Great-West Lifeco and its insurance subsidiaries have received strong ratings from major rating agencies.
About Great-West Lifeco
Contact: Tom O'Sullivan, F.S.A., F.C.I.A., M.A.A.A., General Manager and Actuary, Canada Life (Barbados Branch), T: 246-227-1025 | C: 246-266-8651
SOURCE Canada Life Reinsurance]]>