Conyers advised London Life Insurance Company (“London Life”) in connection with its amalgamation with Great-West Life Assurance Company (“Great-West Life”) and Canada Life Assurance Company (“Canada Life”). The amalgamation, which was subject to policyholder approval, received the consent from more than 90 per cent of policyholders who cast votes at the respective policyholder meeting. The amalgamation took effect on 1 January 2020.
Great-West Life, together with London Life and Canada Life, were leading Canadian insurers. United under the new Canada Life brand, the group serves the financial security needs of more than 13 million people across Canada and is a leading provider of a wide range of insurance and wealth management products and services for individuals, families and business owners.
Director Sophia Greaves and Associate Jessica Harris of Conyers’ Bermuda office advised on the matter.