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Canada Life

Life, health insurance and investments provider

Overview

Canada Life provides life and health insurance, plus investment and retirement savings products for individuals, families, and businesses in Canada. It funds coverage with policy premiums and earns additional revenue from investment management fees and returns on invested funds; customers gain protection and potential growth through insurance and retirement plans. The company differentiates itself with a broad, integrated suite of financial products and a strong focus on user-friendly digital experiences and employee development. Its goal is to help clients secure their financial future, manage health and life risks, and achieve lasting financial well-being through accessible, well-supported services.

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About Canada Life

Simplify's Rating
Why Canada Life is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Financial Services

Company Size

10,001+

Company Stage

M&A

Total Funding

N/A

Headquarters

Toronto, Canada

Founded

1846

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What believers are saying

  • Q3 2026 Canadian base earnings reached $347 million, up 2% from Q2.
  • October 21, 2026 CaLi now gives advisors 24/7 status updates on pending applications.
  • September 16, 2026 Canada Life committed $10 billion to Canadian infrastructure.

What critics are saying

  • April 2026 breach exposed data from up to 70,000 people and triggered class action.
  • Q3 2026 Canadian group benefits earnings fell for a second straight quarter.
  • Persistent claims deterioration and the April breach threaten advisor trust through 2027.

What makes Canada Life unique

  • Canada Life serves 14 million relationships across insurance, benefits, and wealth management.
  • IPC Wealth unified 2,500 advisors under one national Canadian dealer on October 1, 2026.
  • CaLi is the only major Canadian life-insurer AI showing insurance application status.

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Company News

Canada Life
Nov 5th, 2026
Canada Life delivers strong momentum in third quarter of 2026.

Canada Life delivers strong momentum in third quarter of 2026. Nov. 5, 2026 Solid sales growth and strategic execution across the business are driving increasing momentum WINNIPEG, MB, November 5, 2026 - Canada Life entered the final quarter of 2026 with strong growth momentum across its Canadian business and continued progress on key strategic priorities. Results reflected broad-based sales strength, disciplined expense management and resilience of its diversified business lines. The company's focused execution against its strategy is further driving momentum for future growth. "Our performance this quarter is solid; this is demonstrated both by our earnings and through the positive impact we've had for our customers and advisors," said Fabrice Morin, President & CEO, Canada Life. "Our focus remains on deepening the relationships we have with Canadians to help better support their interconnected lives. Through focused execution on strategic priorities, we've continued to build momentum across the business." In the third quarter, Canada Life (Canada) delivered base earnings[1] of $347 million, a 2% increase from Q2 2026, and a 7% decrease from Q3 2025. Net earnings in Q3 2026 were $322 million. In-quarter, the company supported a greater number of individuals needing to access their workplace disability plan, a trend which is persistent across the industry. Canada Life is driving disciplined case management, supporting plan members through healthy and productive returns to work, and maintaining a sustainable business that delivers value for plan sponsors and members. Canada Life's results were released alongside those of parent company Great-West Lifeco Inc. (TSX: GWO). Full third quarter financial results|pdf 433 KB are available at greatwestlifeco.com. Driving progress against strategy: Canada Life advanced priorities across its lines of business and functions during the quarter: * Supporting customers transitioning from the workforce into retirement: Launched Accelerated Rollover, reducing the time for the NextStep asset-retention process by over 80%. * Launched IPC Wealth: Completed the October 1 mutual fund dealer amalgamation that brought IPC Wealth to life, creating a unified national platform serving more than 2,500 licensed advisors, with the ambition to be the leading home to independent entrepreneurial advisors. * Delivering faster and more personalized experiences: Expanded CaLi with self-service new business application tracking for insurance advisors. Canadians have had more than 180,000 conversations with CaLi since its launch. * Modernize the insurance experience: Continued to increase insurance instant decision rates, making it faster and easier for more customers to receive a decision. - [1] This is a non-GAAP financial measure/ratio. Refer to the "Cautionary Note regarding Non-GAAP Financial Measures and Ratios" section of this release for additional details. About Canada Life. Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical, and mental well-being of Canadians. For over 175 years, individuals, families and business owners across Canada have trusted Canada Life to provide sound guidance and deliver on the promises Canada Life has made. Canada Life proudly serve more than 14 million customer relationships from coast to coast. Canada Life is a subsidiary of Great-West Lifeco Inc. and a member of the Power Corporation of Canada group of companies. Visit canadalife.com to learn more. Cautionary note regarding Non-GAAP Financial Measures and Ratios. "Base earnings (loss)" is a non-Generally Accepted Accounting Principles (GAAP) financial measure as defined in National Instrument 52-112 "Non-GAAP and Other Financial Measures Disclosure". Non-GAAP financial measures and ratios are used to provide management and investors with additional measures of performance to help assess results where no comparable GAAP (IFRS) measure exists. However, non-GAAP financial measures and ratios do not have standard meanings prescribed by GAAP (IFRS) and are not directly comparable to similar measures used by other companies. Additional information regarding "base earnings (loss)", including the appropriate reconciliation of this measure to "net earnings (loss)", is incorporated by reference from the "Non-GAAP Financial Measures and Ratios" section of Canada Life's Q3 2026 Management's Discussion & Analysis, available for review at www.sedarplus.ca. Nov. 5, 2026 Canada Life entered the final quarter of 2026 with strong growth momentum across its Canadian business and continued progress on key strategic priorities. Oct. 30, 2026 Canada Life Investment Management Ltd. announced the results of special meetings held on October 30, 2026, where investors approved a fund merger and certain investment objective changes, previously announced on September 9, 2026. Oct. 30, 2026 Canada Life Investment Management Ltd. announced reduced management fees across certain series of select Counsel Portfolios together with changes to the Management Fee Reduction rates applicable to certain series of select Counsel Portfolios, effective November 2, 2026

Canada Life
Oct 21st, 2026
Canada Life advances customer and advisor experiences through leading AI assistant CaLi.

Canada Life advances customer and advisor experiences through leading AI assistant CaLi. Oct. 21, 2026 New capability enables advisors to provide their customers with faster service, and meet their protection needs, by giving them direct information about insurance applications Winnipeg, MB, October 21, 2026 - Canada Life today announced a new capability for CaLi, its AI-powered assistant that helps customers and advisors get information quickly and easily. Advisors can now use CaLi 24/7 to access status updates for pending individual insurance applications. Today's announcement is another example of how Canada Life is investing in AI to enhance human-led experiences for customers and advisors. "We're focused on making interactions simpler and more seamless," said Jamie Collins, Executive Vice-President and Chief Operating Officer, Canada, Canada Life. "This enhancement to CaLi helps advisors access information faster so they have more time to spend with their customers. It's a practical example of how we're using innovation to make things easier." Canada Life is combining human expertise and oversight with responsible AI through CaLi. The AI assistant, available in English and French, helps people find information quickly, while connecting those with more complex questions to the appropriate human support teams. CaLi is the only AI assistant from a major Canadian life insurer currently offering individual insurance application status information. As part of Canada Life's responsible approach to AI, the company will continue to invest in new capabilities that streamline routine tasks, freeing up more time for advisors to deliver a human-centred experience. CaLi was first introduced in 2025 to support plan member registration for workplace benefit plans. It was then expanded to answer questions related to health and savings benefits, and, in May 2026, was made available to advisors for process and workflow questions. Since launching, Canadians have had more than 186,000 conversations with CaLi, including approximately 170,000 with plan members and 16,000 with advisors. Through investments in CaLi and other AI technologies, Canada Life is enabling people to deliver faster, more personalized experiences for customers, advisors, and partners. By combining human expertise with responsible AI, they are making it easier for customers to get support, helping advisors serve customers more effectively, and giving people more time to deliver on the moments that matter most. About Canada Life. Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical, and mental well-being of Canadians. For over 175 years, individuals, families and business owners across Canada have trusted Canada Life to provide sound guidance and deliver on the promises Canada Life has made. Canada Life proudly serve more than 14 million customer relationships from coast to coast. Canada Life is a subsidiary of Great-West Lifeco Inc. and a member of the Power Corporation of Canada group of companies. Visit canadalife.com to learn more. Oct. 21, 2026 Canada Life announced a new capability for CaLi, its AI-powered assistant that helps customers and advisors get information quickly and easily. Oct. 8, 2026 Canada Life released a comprehensive toolkit and more flexible workplace savings options for employers looking to help Gen Z employees plan. Oct. 1, 2026 Canada Life announced the launch of IPC Wealth Inc. (IPC Wealth), bringing together, through amalgamation, the strengths of IPC Investment Corporation (IPC) and Quadrus Investment Services Ltd. (Quadrus) as one national mutual fund dealer with more than 2,500 licensed advisors across Canada.

Canada Life
Oct 1st, 2026
Canada Life launches IPC Wealth, strengthening its position in Canadian wealth management.

Canada Life launches IPC Wealth, strengthening its position in Canadian wealth management. Oct. 1, 2026 Amalgamation combines the expertise of IPC and Quadrus backed by the scale, capital, and support of one of Canada's largest financial institutions TORONTO, ON, October 1, 2026 - Today, Canada Life announced the launch of IPC Wealth Inc. (IPC Wealth), bringing together, through amalgamation, the strengths of IPC Investment Corporation (IPC) and Quadrus Investment Services Ltd. (Quadrus) as one national mutual fund dealer with more than 2,500 licensed advisors across Canada. The amalgamation represents an important step in Canada Life's strategy to grow its wealth management business and further strengthen its value proposition to advisors and clients.As one of the largest financial institutions in the country, Canada Life has brought IPC and Quadrus together as IPC Wealth to create a leading national wealth platform that will give advisors more choice, more support, and better technology, so they can spend more time serving clients and growing their businesses. "Canada Life believes strongly in the value of advice," said Blaine Shewchuk, Executive Vice-President, Wealth & Advice, Canada Life. "IPC Wealth is about creating a leading wealth platform for entrepreneurial advisors in Canada, with the scale to invest, the flexibility advisors want, and the technology their clients increasingly expect." One of the key strengths of IPC Wealth is that it maintains the entrepreneurial culture advisors value while providing a full-service platform. Through IPC Wealth and its affiliates, Canadians will have access to leading securities, mutual funds, segregated funds, and protection products. A plan for the future. The launch of IPC Wealth marks an important milestone as part of the company's ambition to become a leading wealth platform for entrepreneurial advisors in Canada. It demonstrates Canada Life's strategic focus on wealth management and independent advice. A stronger national platform gives Canada Life a better foundation to invest, attract and retain entrepreneurial advisors, and grow its wealth business. Backing advisors who help build Canada. IPC Wealth is a place where advisors have the flexibility and support to build their business while focusing on the families and communities they serve. "Our advisors play an important role in helping Canadians achieve their financial goals," said Shewchuk. "Every day, they help families buy homes, save for education, build businesses, prepare for retirement, and navigate life's uncertainties. By helping Canadians make informed financial decisions, they contribute to stronger families, communities, and a more resilient economy." About IPC Wealth Inc. As part of Canada Life, IPC Wealth Inc. is a leading destination for independent, entrepreneurial advisors in Canada. IPC Wealth Inc. brings together the strengths of two established Canadian mutual fund dealers: IPC Investment Corporation and Quadrus Investment Services Ltd. Together, they bring more than 50 years of combined experience supporting advisors and helping Canadians achieve their financial goals. With over $141 billion in assets under administration as of Aug. 31, 2026, IPC Wealth Inc. combines scale, expertise and focused support to help advisors deliver for their clients. Visit ipcwealth.ca to learn more. About Canada Life. Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical, and mental well-being of Canadians. For over 175 years, individuals, families and business owners across Canada have trusted Canada Life to provide sound guidance and deliver on the promises Canada Life has made. Canada Life proudly serve more than 14 million customer relationships from coast to coast. Canada Life is a subsidiary of Great-West Lifeco Inc. and a member of the Power Corporation of Canada group of companies. Visit canadalife.com to learn more. Oct. 1, 2026 Canada Life announced the launch of IPC Wealth Inc. (IPC Wealth), bringing together, through amalgamation, the strengths of IPC Investment Corporation (IPC) and Quadrus Investment Services Ltd. (Quadrus) as one national mutual fund dealer with more than 2,500 licensed advisors across Canada. Sept. 29, 2026 Canada Life Investment Management Ltd. announced changes to risk ratings of certain mutual funds, effective September 29, 2026 Sept. 16, 2026 Canada Life today announced a commitment to invest $10 billion over the next five years in Canadian infrastructure and other nation-building projects that meets its return objectives.

Reinsurance News
Sep 23rd, 2026
Fenlon joins Canada Life as Operations Director for BPA.

Fenlon joins Canada Life as Operations Director for BPA. Canada Life, a large financial services and insurance company, has announced the appointment of Mark Fenlon as Operations Director for Bulk Purchase Annuities (BPA), effective immediately. Mark joins Canada Life's BPA Senior Leadership Team, reporting to Dominic Moret, Managing Director, BPA, who commented: "Mark's appointment reflects the next stage of growth in its operational capabilities as Reinsurance Group scale up to support its customers in the BPA market, with members' interests at the heart of its decisions. "He brings deep, proven leadership experience to the team, providing trustees with the assurance that we can help their schemes navigate complexity with confidence as they move to buyout, and that we will continue to care for their members into the future." In his new position, Fenlon will lead Canada Life's BPA operations strategy, focusing on high-quality service delivery and propositions that reinforce the company's dedication to operational excellence throughout the buy-in to buyout transaction and beyond. Fenlon is joining Canada Life from Standard Life, where he served as Director of Client Services, Annuities. He has also previously held senior operational and actuarial positions at Aviva and Legal & General. Fenlon stated: "Over many years working in the industry, I have seen that trust is built through strong partnerships, dependable delivery and a clear focus on what matters most to pension scheme members. "I'm looking forward to joining the excellent team at Canada Life and supporting trustees on the path to buyout, combining operational expertise and a flexible approach to schemes' needs as they navigate the buyout journey and beyond with clarity."

Squash Ontario
Sep 16th, 2026
Welcoming our new Board members for 2026-2028.

Welcoming our new Board members for 2026-2028. Squash Ontario is pleased to welcome three new members to its Board of Directors for the 2026-2028 term: Lisa Bogdan, Paul Hunter and Roberto Godoy. Bringing a diverse range of experience in squash, sport leadership, governance, business and community development, our new Directors will help support the continued growth and development of squash across Ontario. Welcome to our new Board members. Lisa Bogdan. Lisa Bogdan recently retired from a 36-year career in Corporate Actuarial at Canada Life in London, Ontario. A squash player for more than 30 years, Lisa continues to compete at the provincial and national levels and is a certified provincial coach. Lisa is a strong advocate for women in sport and co-runs a Tuesday Night House League that provides an inclusive and welcoming environment with high female participation. Her extensive experience as both a squash player and coach will bring valuable perspective to the Squash Ontario Board. Paul Hunter. Paul Hunter is the Chief Executive Officer of Wheelchair Rugby Canada, where he leads the national organization responsible for the development and growth of wheelchair rugby across Canada. With extensive experience in sport leadership, governance and development at the community, provincial and national levels, Paul has contributed to initiatives including the Rowan's Law Advisory Committee to the Government of Ontario. Paul is passionate about good governance, athlete-centred development, volunteerism, and building strong, sustainable and inclusive sport organizations. His experience in national sport leadership will be a valuable addition to the Board. Roberto Godoy. Roberto Godoy is a multi-sector business founder based in the Niagara Region. With Mexican roots and a strong commitment to public service, he is passionate about using sport to create opportunity, connection and leadership for youth, families, newcomers and local communities. An active squash enthusiast and community organizer, Roberto has supported local sports, social events and athlete development. He believes squash plays an important role in building confidence, discipline, inclusion and healthy competition. Roberto is committed to helping grow the game across Ontario by strengthening grassroots participation, supporting junior development, encouraging community partnerships and making squash more visible and accessible to the next generation of players. We are excited to welcome Lisa, Paul and Roberto to the Squash Ontario Board and look forward to the experience, perspectives and energy they will bring to the organization. Thank you to our outgoing Directors. Squash Ontario would also like to extend our sincere thanks to Leah Desbarres, Natasha Seth and Vinit Kudva for their six years of service on the Board of Directors. Over the past six years, Leah, Natasha and Vinit have contributed their time, knowledge and leadership to help support the growth and development of squash across Ontario. Their commitment to the sport and to Squash Ontario has been greatly appreciated. We are especially pleased that Vinit will continue to support the Board for one additional year in the role of Past President, allowing Squash Ontario to benefit from his experience and leadership as the organization continues into its next chapter. Thank you to Leah, Natasha and Vinit for their dedication and contributions over the past six years. We are grateful for the time and energy they have given to Squash Ontario and the Ontario squash community. Please join us in welcoming our new Directors and thanking our outgoing Board members for their service.

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