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 December 31, 2025. While no new treaties will be accepted beyond this date, Canada Life Reinsurance emphasized its commitment to managing and supporting all in-force business with the same high level of service that clients have come to expect.
“This carefully considered decision will allow Canada Life Reinsurance to focus on our core markets of structured solutions, longevity reinsurance and catastrophe retrocession,” said Jeff Poulin, Executive Vice-President, Reinsurance. “With a large U.S. Trad Life inforce block to manage, our clients will be expecting the same high levels of service that we have been providing. We remain committed to meeting our clients’ expectations.”
The decision to shift resources toward structured reinsurance solutions aligns with broader strategic goals. Canada Life Reinsurance will concentrate on providing capital and reserve financing solutions across various product lines and geographic regions.
The company has assured its existing U.S. Trad Life clients of a smooth transition process, working closely with partners to address both facultative and automatic new business as the segment phases out. This approach aims to uphold client relationships while positioning the organization to capitalize on opportunities in high-demand reinsurance markets.
Canada Life Reinsurance’s decision marks a significant pivot, reflecting its long-term strategy to specialize in markets offering scalable growth and innovation potential.
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