National Underwriter Life & Health-Financial Services Edition, June 1st, 1998
Canada Life Assurance, Canada's fourth largest insurance company, said last week that it plans to acquire the majority of Crown Life Insurance Company's business operations. The acquisition of a large chunk of the Saskatchewan-based company, for an undisclosed amount, will increase Canada Life's assets from C$23.5 billion (U.S.$16 billion) to C$28.5 billion (U.S.$19.5 billion), said one analyst close to the deal. In the complex deal, Toronto-based Canada Life will acquire Crown Life's individual and group insurance operations in Canada, its non-Canadian reinsurance operations, and various in...
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