Canada Life Reinsurance to Cease New U.S. Traditional Life Business

Canada Life Reinsurance to Cease New U.S. Traditional Life Business

BLUE BELL, PA — Canada Life Reinsurance, a subsidiary of Great-West Lifeco Inc. (TSX: GWO), has announced a strategic decision to discontinue new business for its U.S. traditional life mortality risk reinsurance line (U.S. Trad Life). The move reflects the company’s focus on expanding its presence in the structured reinsurance market. The company has stated that notices will be sent to terminate new business for U.S. Trad Life clients effective …

Canada Life Re to cease new business for US traditional life mortality risk reinsurance

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 to cease new US Trad Life business is expanding the resources devoted to the structured reinsurance market. For US Trad Life clients with …