Canada Life Reinsurance

Canada Life Reinsurance (Canada Life Re), a division of The Canada Life Assurance Company, provides global reinsurance solutions. As of 2024, it manages over $454.8 billion in assets under administration and holds $16.6 billion in capital and surplus. 

History of Canada Life Reinsurance

Canada Life Re began writing reinsurance business in 1989 as part of The Canada Life Assurance Company. It grew under Great-West Lifeco Inc., building expertise in life, health, and structured reinsurance.  

It then expanded presence into France and the Netherlands through major longevity reinsurance activity. The reinsurer has earned global trust with longevity deals in the UK and continental Europe.  

Here are other major moments in Canada Life Reinsurance’s history: 

2008: completed its first large-scale longevity transaction with an undisclosed counterparty 
2015: reinsured EUR6 billion of Dutch annuities from Aegon in a major European transaction 
2022: signed structured mortality deal with Allianz Indonesia for credit life business protection 
2023: secured EUR100 million funding partnership with Spry Finance to support senior lending 
2024: Chantal Perry named among Elite Women in Reinsurance by Insurance Business Magazine 

The latest chapter in Canada Life Re’s story shows its continued global reach. It has expanded in Asia and Europe through structured deals and long-term funding agreements. 

Reinsurance products and services

Canada Life Reinsurance builds smart reinsurance solutions that adapt to insurers' changing needs and markets: 

• structured reinsurance: helps manage capital, improve earnings, and increase return on equity for insurers 
• traditional reinsurance: provides life and health coverage across a wide range of insurance product types 
• longevity reinsurance: supports pension and annuity providers in transferring long-term payment risk 
• property and casualty reinsurance: through London Reinsurance Group, helps price complex market risks effectively 
• CLEAR underwriting tool: online manual that supports medical risk decisions through current mortality ratings 

Its reinsurance services are tailored to support financial goals and regulatory needs. The team works with clients to shape strategies that match their capital and risk targets. 

Culture and core values

Canada Life Reinsurance focuses on building trust and lasting partnerships with clients and team members. Its culture is grounded in putting customers first, supporting communities, and working closely with advisors. 

Workplace environment and benefits 

As part of Canada Life, Canada Life Re supports personal growth, well-being, and the freedom to be one’s true self. It values health, performance, and inclusion, with benefits designed to support the whole person: 

• mental health support: includes access to therapy and wellness tools  
• health and dental benefits: offers flexible care coverage that adjusts with individual and family situations 
• gender affirming care: provides support for gender identity through medical services and inclusive policies 
• fertility treatments: gives access to family-building support under extended health options 
• performance incentives: rewards staff who deliver strong results for customers, teams, and the community 
• pension and savings: includes a share plan, RRSPs, and a company-backed retirement pension 
• career and personal growth: supports learning, advancement, and professional goals through structured programs 
• training and education: offers course funding and resources to build professional and industry skills 
• onsite fitness and sports: includes gym access at main offices and organized employee sporting events 

The company works to create a respectful, accessible place where everyone can succeed. Its goal is to reflect the diversity of its people and the communities it serves. 

Corporate social responsibility 

Canada Life Reinsurance understands that its actions affect people, communities, and the world around them. It supports real impact through local outreach and employee-led programs across its global offices: 

• cancer charity tournament: supports Coaches vs. Cancer at Penn State
• senior care donations: partners with BARP Charitable Trust in Barbados
• ​​​​​​​food bank support: volunteers monthly at Allan Gardens Food Bank 
• flood relief aid: donates supplies for Pakistan flood recovery 
• legacy golf support: aids Binghamton charities through local tournament 
• school supplies drive: collects backpacks for Keystone Opportunity Center 
• Pride recognition events: celebrates inclusion during Pride Month 
• housing partnership: joins effort for affordable housing 
• NICU equipment donation: supports Queen Elizabeth Hospital in Barbados 
• fresh food program: helps run Fresh for All with Keystone Center 

These efforts reflect the company’s deep care for social impact and well-being. The company also weighs the environmental footprint of its actions while serving its broader mission. 

The future at Canada Life Reinsurance 

Canada Life Re ranks among the top reinsurance companies in Canada by gross revenue. Its latest reported revenue reached $3.6 billion, with strong offerings across life and specialty lines. As market needs shift, the company stays focused on growth, stability, and reinsurance innovation. 

Canada Life Reinsurance posted strong Q1 2025 results despite challenges from California wildfire claims. It limited catastrophe exposure, with just CAD21 million in claims versus $40 billion in losses. The firm continues to grow, after reporting a 40 percent margin increase over 2023 figures.