canada life intl sales of offshore bonds jump

Isle of Man-based Canada Life International grew its offshore bond sales by 7.5% in 2013.

canada life intl sales of offshore bonds jump

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The full year premiums were £792m compared with £737m in 2012, while total assets under administration jumped over 10% from £7.98bn to £8.8bn, the company reported.

Sean Christian, managing director of Canada Life International, said: “Advisers and their clients are looking for a wide range of offshore investment solutions including a choice of jurisdictions from providers with strong financial backing and a long pedigree in this market.”

He added that Canada Life’s international operations were “committed to the UK market and our focus is on advice driven solutions”.

Canada Life launched a new Dublin based company, Canada Life International Assurance, in May 2013 giving a choice of an EU-based jurisdiction alongside the existing Isle of Man operation.

In January 2014, the Dublin operation launched an estate planning product called the Wealth Preservation Europe Account (WPEA).

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