Canada Life has been awarded a financial strength rating of ‘Superior A’ – the highest accolade possible – across each of its international life companies, from the financial analytics and independent ratings specialist, AKG.
Canada Life International Ltd, CLI Institutional Ltd, and Canada Life International Assurance have all been upgraded to the top financial rating in the latest assessment. As well as financial strength, the companies were assessed on their Service, Image and Strategy, and Business Performance.
The assessment areas that inform the overall ‘Superior’ rating, were scored out of a possible five stars. Each company achieved the maximum score against all categories.
Canada Life International Ltd has achieved a 5-star rating in Service and Business Performance since 2004, which is unmatched by any other offshore provider. For the past ten years, since 2015, Canada Life International Ltd, CLI Institutional Ltd, and Canada Life International Assurance have all achieved a five-star rating across all categories of Service, Image and Strategy and Business Performance too.
Sean Christian, chief executive, Canada Life International & managing director – wealth division, Canada Life UK said: “AKG is recognised as the leading independent assessor of providers in the international bond market and used extensively by adviser firms when deciding who they wish to partner with.
“We are therefore delighted that AKG has once again recognised the financial strength of our offshore entities and our market leading position.
“The products we offer are designed for the long-term needs of our customers, and we know that advisers need assurance that providers are committed to the market. The strength that comes from being part of a global business with deep history in the UK and a longstanding commitment to our international businesses in the Isle of Man and Dublin puts Canada Life at a distinct advantage in this space.
“We look forward to supporting our UK adviser relationships for decades to come.”
