Canada Lifes seals longevity risk deal with Aegon
Canada Life’s reinsurance division has reached a deal with insurance giant Aegon to cover the longevity risk on a €6.0bn (£4.3bn, $6.7bn) portfolio of Dutch annuities.
Canada Life
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Life companies recommend trusts after UK disinheritance case
The case of a woman who secured £164,000 from her mother’s will despite being excluded from it has led the life industry to recommend trusts as a more secure way to distribute wealth upon death.
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Offshore bonds to benefit from permanent non-dom abolition
The life industry has recommended offshore bonds to those facing UK tax on their foreign income, following the abolition of permanent non-dom status in yesterday’s Budget.
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Canada Life names managing director for Legal & General Int’l acquisition
Canada Life Group has today completed its acquisition of Legal & General International (Ireland) while also announcing a new managing director and name for the Dublin-based operation.
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Canada Life Int’l hires new chief financial officer
Isle of Man-headquartered, Canada Life International, has recruited a former actuary from Zurich International to work as its chief financial officer.
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Annuities set to weather UK pension reforms
Annuities are expected to see enduring demand in the UK despite the pension reforms in April, though most financial advisers forecast that drawdown products will become the more popular retirement option, according to new research from Canada Life.
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Canada Life prepares for IHT changes with ‘unique’ product
Canada Life has launched what it describes as a “unique” estate planning product to protect overseas investors and owners of large estates against inheritance tax liabilities.
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UK onshore bond sales up as offshore dips
New business sales of UK-distributed offshore bonds fell by 10.7% last year but were contracting at a slower pace than in recent years, while the onshore version saw sales pick up in 2014 for the first time since the financial crisis.
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Advisers must brace themselves for new IHT trust duties from next March, warns Canada Life
Advisers must prepare clients for new tax and reporting requirements on trusts, as an inheritance tax (IHT) law introduced by the last Labour government reaches its tenth anniversary next March, Canada Life has warned.
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British IHT bills likely to average over 130K
UK families are facing average inheritance tax bills of up to £130K; according to research from Canada Life International; highlighting the need for more planning to reduce the liability.
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Canada Life to launch three
Canada Life will launch three retirement income products to allow individuals to take advantage of the pension freedoms available from 6 April.
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UK wealthy failing to plan for IHT
Less than one tenth of wealthy UK citizens have sought advice for inheritance tax planning, putting their families at risk of a large tax bill when they die.