Canada Life sells protection book to Countrywide Assurance

Comes after the deal was first announced last November

John Brazier
clock • 1 min read

Canada Life has taken another step towards withdrawing from the UK individual protection market through the sale of its book of clients to Countrywide Assured.

First announced in November last year, the sale has now been agreed between the two parties and will see approximately 47,000 customer policies transfer to Countrywide Assurance, subject to the completion of a court-approved Part VII transfer. Customer policies are expected to transfer to Countrywide in 2024 and Canada Life stated it will continued to "to support customers, honouring existing contractual obligations, and paying claims in line with the usual processes" in the interim. The initial announcement to withdraw from the market, with Canada Life stating it would no longer acce...

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