London Life Insurance Company provides various financial products and services to individuals, families, and business owners in Canada. It operates through Insurance and Investment Products, and Reinsurance/International segments. The company offers financial security advice and planning services; and retirement and investment products, such as segregated fund policies, tax-free savings accounts, mutual funds, banking products, specialized investment solutions, registered education savings plans, registered retirement savings plans, registered retirement income funds, and guaranteed interest options and payout annuities. It also provides insurance products comprising life insurance, disabili...
255 Dufferin Avenue
London, ON N6A 4K1
Founded in 1874
Great-West Lifeco Inc., Great-West Life, London Life and Canada Life Announce Management Changes
May 2 13
At Great-West Lifeco Inc.'s annual meeting held on May 2, 2013 Raymond L. McFeetors indicated his decision to step down as Chairman of Great-West Lifeco, Great-West Life, London Life and Canada Life, positions he has held since 2008. Mr. McFeetors will continue to serve as a Director, continuing his 45-year association with the companies, which included a longstanding tenure as President and Chief Executive Officer. Mr. R. Jeffrey Orr has been appointed to succeed him as Chairman of the Boards of the companies. Mr. Orr has been a Director since 2002 and has been Chairman of the Executive Committee of the Boards since 2008. Also at the annual meeting, D. Allen Loney announced his intention to retire as President and Chief Executive Officer of Great-West Lifeco, Great-West Life, London Life and Canada Life. Mr. Loney has held these positions since 2008, and has contributed to the success of the companies as CEO and throughout his 42-year career with the companies. Mr. Loney will continue to serve as a Director. Mr. Paul A. Mahon has been appointed to succeed Mr. Loney as President and Chief Executive Officer of the companies. Mr. Mahon has been associated with Great-West Life for 27 years in increasingly senior roles, including the last five years as President and Chief Operating Officer, Canada of Great-West Life, London Life and Canada Life. Mr. J. Dave Johnston has been appointed President and Chief Operating Officer, Canada of Great-West Life, London Life and Canada Life. Mr. Johnston has been associated with Great-West Life for 35 years in a number of increasingly senior roles in the company's Group Division, including the last seven years as Executive Vice-President, Group.
The Ontario Superior Court of Justice releases decision in regard to the involvement of the participating accounts of London Life Insurance Company and The Great-West Life Assurance Company
Jan 25 13
The Ontario Superior Court of Justice has released a decision in regard to the involvement of the participating accounts of Great-West Lifeco subsidiaries London Life Insurance Company and The Great-West Life Assurance Company in the financing of the acquisition of London Insurance Group in 1997. This decision follows on the Court of Appeal decision from November 11, 2011. That court ruled the companies achieved substantial success and required that there be adjustments to the original trial judgment regarding amounts which were to be reallocated to the participating accounts going forward. The Ontario Superior Court Decision released now ordered that $284.6 million be reallocated to the participating account surplus. The company will be appealing that decision. The Court of Appeal confirmed that participating policyholders were treated fairly by the company in the acquisition of London Life in 1997 and that there was no impact on their dividends. The Court of Appeal also confirmed that it was reasonable for the participating accounts to contribute to the acquisition in order to receive benefits. Any monies to be reallocated to the participating accounts will be dealt with in accordance with the companies' participating policyholder dividend policies in the ordinary course of business. The decision provides that no awards are to be paid out to individual class members.