London Life Insurance Company will no longer bear the name of its birth city.
Under new rebranding measures, London Life, Great-West Life Assurance Company, and Canada Life Assurance Company will come together to form Canada Life.
“Today marks the beginning of a new and exciting chapter for our companies in Canada,” President and Chief Executive Officer Paul Mahon said in a statement issued Wednesday. “Bringing our companies together under one brand will allow us to deliver a simpler and unified experience for our customers, advisors and consultants, focusing on what matters most – helping Canadians reach their full potential, every day.”
The rebranding comes as Great-West Life, London Life, Canada Life and their holding companies, Canada Life Financial Corporation and London Insurance Group Inc. formally begin amalgamating into one company. The move is pending board, regulatory, and policyholder approvals. Additional information about the amalgamation into one company is expected in the coming months.
No jobs will be lost as a result of the rebranding and amalgamation. The three companies employ more than 11,000 people at their five main offices in London, Winnipeg, Toronto, Montreal, and Regina, as well as smaller offices throughout the country.
“Our employees are central not only to our companies’ growth, but to the relationship of trust that we’ve built with our customers, advisors and consultants,” said Jeff Macoun, the company's president and chief operating officer. “Under the new Canada Life brand, we’ll make it easier for them to deliver for our customers, advisors, consultants, and their communities."
London Life was founded in the Forest City in 1874 and became a subsidiary of Great-West Lifeco in 1997.