Sun Life Assurance Company of Canada, London Life Insurance Company, The Great-West Life Assurance Company and Investors Group Inc. today announced a product distribution alliance.
Under this special alliance:
Through this alliance, each company gains access to the industry-leading products of other partners, but the sales forces of all four companies will remain separate and competing.
"Financial services consumers and small businesses will ultimately benefit through increased access to some of Canada’s leading financial security products," says Denis Devos, Executive Vice-President, Individual Insurance and Investment Products, Great-West and London Life.
"This unique alliance promises significant benefits to everyone involved," says Janet De Silva, Vice-President, Individual Insurance, Sun Life of Canada. "Sun Life and Great-West gain additional distribution channels to expand sales, while representatives of all four companies receive an enhanced product portfolio to better meet clients’ needs."
"We are continually expanding our products and services to meet the diverse financial planning needs of our clients," says Sandra Metraux, Senior Vice-President, Marketing, Investors Group. "In fact, over the past five years, Investors Group has become one of Canada’s largest distributors of insurance products ¾ and we anticipate even further growth with this new arrangement."
Investors Group Inc. is a national leader in providing personal financial planning services to more than one million Canadians. In addition to a unique family of mutual funds and other investment vehicles, Investors Group offers a wide range of mortgage and insurance options. Great-West, together with London Life, have the #1 market share in sales of life and health insurance and segregated funds in the Canadian market. The Great-West Life Assurance Company serves the financial security needs of more than 13 million people through its Canadian operations and London Insurance Group in Canada, and through Great-West Life & Annuity Insurance Company in the United States. Investors Group, Great-West Life and London Life are members of the Power Financial Corporation group of companies. The three separate sales forces total 7,500 men and women serving the Canadian financial marketplace.
Sun Life, which commenced business in 1871, has grown to become a diversified global financial services company with total assets under management of $250 billion and a surplus of $6.1 billion. The company’s worldwide staff of more than 10,000 employees, together with more than 65,000 agents and distributors, offers a broad range of financial products to individuals and groups through operations in Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Indonesia, Bermuda, Chile and Australia.
For additional information, contact: Audrey Gouskos Marlene Klassen Allan Hiebert Sun Life Great-West Life and London Life Investors Group (416) 408-7529 (204) 946-7705 (204) 956-8535 Francine Cleroux Pierre Durand Sun Life Relations Publiques Pelican (514) 866-2561