Canada Life expanding into Europe

Article Abstract:

Canada Life Assurance Co of Toronto, Ontario, is expanding its European operations and expects to secure regulatory approval for its Irish-based reinsurance operation by the end of 1999. Canada Life Assurance (Ireland) Ltd will allow the company to sell some of its products such as annuities to other European Union member states, including Germany. By basing the operation in Ireland, the company will be able to enjoy low Irish corporate taxes.

Facilities & equipment, Ireland

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Special charges cut insurers' results

Article Abstract:

Canada Life Assurance Co and Mutual Life Assurance Company of Canada registered lower profit in 1998 due to non-recurring charges. Canada Life posted C$88 million in profit for 1998 afte charges of C$182 million, even as revenue rose to C$6.2 billion from C$5.4 billion in 1997. Mutual Life, on the other hand, reported profit of C$111 million after charges of C$121 million.

Canada, Sales, profits & dividends

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