Canada Life Reinsurance, a wholly owned subsidiary of Great-West Lifeco Inc., has announced a strategic realignment that will see the company stop writing new business in its US traditional life mortality risk reinsurance segment, or US Trad Life.
The shift comes as the reinsurer plans to expand its focus on structured reinsurance, longevity risk, and catastrophe retrocession—areas it identifies as key growth priorities.
The change will take effect on December 31, 2025. Canada Life Reinsurance will begin issuing termination notices for new business under existing U.S. Trad Life treaties, both facultative and automatic. However, the company has confirmed it will continue to manage and service all inforce policies, aiming to ensure a seamless experience for its clients during the transition period.
"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 US 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 company cited changing market dynamics, client needs, and growth potential in structured solutions as key drivers behind the decision. Structured reinsurance, which includes capital and reserve financing arrangements, has become increasingly important to insurers seeking capital relief, balance sheet efficiency, and tailored risk-transfer mechanisms.
Canada Life Reinsurance operates globally, supporting clients in North America, Europe, and Asia with a range of reinsurance solutions, including both life and property & casualty risk. The company has indicated that its revised strategy will enable it to allocate resources more effectively to meet demand in these growing segments.
Great-West Lifeco, Canada Life Reinsurance’s parent company, is a Canadian-based financial services holding company with interests in life insurance, health insurance, retirement, investment, and reinsurance businesses.
Through this realignment, Canada Life Reinsurance aims to strengthen its position as a solutions-driven partner to insurers navigating an increasingly complex risk and capital landscape.
