Canada Life Financial

Canada Life (full name Canada Life Assurance Europe Limited ) is the European subsidiary founded by Hugh C. Baker in Ontario 1847 The Canada Life Assurance Company, the first Canadian life insurance company. Canada Life Assurance Europe Limited is a provider of investment-linked insurance brokers in the market and the market leader in the hedge of serious diseases ( " critical illness insurance ").

History

In 1843, the Canadian Hugh C. Baker sought a protection for his family. Because he suffered from asthma, he had to undergo a medical examination - and for over 500 miles on horseback to travel by stagecoach and steamboat to New York. There he completed a life insurance over $ 1,000. Baker then returned to the firm decision to establish the first insurance company in Canada. The result was 1847, the Canada Life Assurance Company in Hamilton, Ontario.

In many countries, the company operates for a long time. Headquartered in Toronto Canada Life maintains several subsidiaries and is represented in the United States since 1889. 1903 followed by the establishment of the first European subsidiaries in Ireland and the UK.

In 1999, the Canada Life was transformed into a public company and launched in July 2000 through its Irish subsidiary, Canada Life Assurance Europe Limited, in Germany. With the acquisition of the German life insurance business, Prudential plc, known as " Sali ", which was active in Germany since 1996, the Canada Life Europe 2003 strengthened its position in the market. The Canada Life Group has since 2003 on financial services holding company, Great-West Lifeco Inc., together with its subsidiaries in Canada, serving more than 12 million customers and assets of around 401 billion euros managed (as of 31 March 2012). The Great-West Lifeco is one of Canada's largest insurance groups.

Canada Life Assurance Company has a strong financial strength, which is documented with appropriate ratings. In addition to the international ratings in 2013 is another rating for the Canada Life Assurance Europe Ltd.. , Germany Branch, have been added. Herein certifies the insurance rating agency Assekurata with AA a very strong credit rating with a stable outlook.

Which operates in Germany subsidiary, Canada Life Assurance Europe Limited, subject to the Financial Regulator and regulated by the Canadian supervision as part of the group of companies. Furthermore, the German branch of the law is subject to supervision by the Federal Financial Supervisory Authority. Since the company does not have its headquarters in Germany, membership in the German insurance fund protector is not possible. However, there are efforts at EU level to achieve a European Guarantee Fund. Canada Life Assurance Europe Limited supports this. A letter of support from the parent company over the subsidiary is not available. Client funds are also protected as hedging assets such as special fund under German law. The insurance contracts associated with the investment pools are managed separately from the company's capital and therefore are fully committed to a dispensing to customers. Because the rules are prescribed in this regard by a European directive that match Irish rules to German regulations for the event of insolvency.

A survey in figures:

Product lines

Canada Life offers on the German market following product lines:

• Basic pension
• Occupational pension scheme
• Private pension
• Beginning immediately pension
• Risk insurance