About us

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Canada Life is a leader in the group retirement marketplace in Canada. We serve employers of all sizes by providing group retirement and savings plans for their employees. What matters to us is the success of these plans—meaning more Canadians are on track to meet their retirement goals.

There's strength in numbers

Employers and employees need a plan provider with the financial strength and experience to provide superior, reliable group retirement services. Canada Life has both:

  • Over $64.4 billion in assets under administration
  • More than 28,000 group retirement and savings plans administered
  • Over 1.6 million plan members
  • 12 offices across Canada

Canada Life, is one of the largest life and health insurance organizations in Canada serving the financial needs of more than 13 million Canadians.

All statistical data updated as at Sept. 30, 2022

  • Our ratings

    Canada Life has received strong ratings from major rating agencies.


    Rating agency Measurement Canada Life
    A. M. Best Company Financial strength       A+
    Fitch Ratings Insurer financial strength       AA
    Moody's Investors Service Insurer financial strength       Aa3
    Standard & Poor's Rating Services Insurer financial strength       AA
  • Financial strength and stability

    Canada Life is a subsidiary of Great-West Lifeco Inc.

    Great-West Lifeco Inc. (TSX:GWO) is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Great-West Lifeco has operations in Canada, the United States, Europe and Asia through Canada Life, Irish Life, Great-West Financial and Putnam Investments.

    Great-West Lifeco and its subsidiaries have over $2.4 trillion in consolidated assets under administration and are members of the Power Financial Corporation group of companies.

    *As of Sept. 30, 2022

  • How we demonstrate our integrity

    Because we value your business and the trust you place in us, we maintain strict, principled business practices. These five key components ensure we're accountable for the service we provide to you:

    Daily fund valuation

    We value our funds daily, and have business processes in place to discourage members of group retirement and savings plans from participating in detrimental activities like frequent trading.

    Annual audits

    Four groups regularly audit and review our processes and controls.

    • Deloitte & Touche LLP audits our business practices and company financial statements annually.
    • The corporate internal audit department conducts ongoing reviews and testing of key business and financial controls.
    • The Canada Life Group Retirement Services audit team conducts transactional and full-case audits on customer service specialists. The team also audits new plan issues and amendments to existing cases to ensure proper system setup and contractual documentation.
    • The Office of the Superintendent of Financial Institutions (OSFI) conducts regular reviews to fulfill its mandate of regulating insurance companies.

    Regular reviews of our administrative practices

    Administrative managers take steps to ensure:

    • We meet or exceed our high service standards.
    • Our accounting and investing procedures are accurate and effective.
    • We process all transactions consistently and accurately, using our comprehensive process guide.

    Keeping clients and members informed

    Our clients and members have timely and convenient access to information about their plans and investments. Some of the ways we provide that:

    • Printed reports
    • Regular statement mailings
    • Newsletters
    • Legislative updates
    • GRS Access website
    • Client service centre

    Customized staff training

    Each customer service and issue specialist follows a customized training program. Regular performance monitoring takes place with their leaders and trainers.

  • Assuris

    The Canada Life Assurance Company are members of Assuris. Assuris is a not-for-profit corporation, funded by the life insurance industry, that protects Canadian policyholders against loss of benefits due to the financial failure of a member company. Details about the extent of Assuris' protection are available at www.assuris.ca or in its brochure, which can be obtained from info@assuris.ca or by calling 1-866-878-1225.