Canada Life Financial Corp: stock study guide

Shareowner, Mar/Apr 2003

Canada Life (TSX:CL;NYSE:CLU) is the smallest of the large Canadian insurance companies with revenues of about $8 billion. Canadian operations account for about 40% of revenues; U.S. 30%; U.K. & Ireland 25%; with the balance from Germany, Brazil, the Caribbean and Hong Kong.

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The company offers a complete line of individual and group insurance products and annuities. Growth has been through the introduction of new products and expanded distribution from geographic diversification and acquisitions (e.g. Crown Life in Canada and Banco Pactual in Brazil).

At the time of writing, Canada Life was the target of a competing bid by Manulife ('hostile') and Great-West.