Message from Hugh Moncrieff, Executive Vice-President, Advisory Network and Industry Affairs, Mike Cunneen, Senior Vice-President, Independent Distribution and Wholesaling and Jim Brownlee, Vice-President, Managing General Agency Partnerships | | Voting policyholders of The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company, have voted in favour of amalgamation.
More than 90 per cent of policyholders who cast votes at each company were in favour of amalgamation. It's clear our policyholders recognize the many benefits of amalgamation. This vote was an important milestone in our journey to amalgamation – and your support helped us get there. Thank you for encouraging your clients to have their say and helping them through this process.
What's next
Subject to regulatory approvals, the amalgamation is expected to be effective on Jan. 1, 2020.
If the amalgamation is completed, we plan to launch new participating life insurance products from the combined Canadian open participating account. We look forward to sharing our plan to introduce even more options – including new 10-pay products. In addition, an exchange program will be available for new par policies sold in 2019 (available prior to the first policy anniversary) if the newly designed products better meet clients' needs. Our one-page infographic is a helpful way to illustrate to clients how combining the Canadian open participating accounts of Great-West Life, London Life and Canada Life would work.
Amalgamation will help position us for future growth by efficiently anticipating, innovating and responding with the products and services you and your clients need. Watch your peers share their excitement about the benefits of becoming one company under one brand.
We're here for you and are committed to delivering value so you can deliver for Canadians. Thank you for your continued support in our journey as we build the future of our new Canada Life with you. |
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