London Life Insurance Company
Encyclopedia
London Life Insurance Company is a Canadian life insurance
company best known for its "Freedom 55" slogan, evocative of saving money to an extent that would allow one to retire at age 55. London Life is a part of Great-West Lifeco
subsidiary The Great-West Life Assurance Company, which in turn is controlled by Power Financial Corporation
(Great-West Lifeco owns 100% of The Great-West Life Assurance Company; Power Corporation owns 72% of Great-West Lifeco. Great-West Lifeco is the only one of those finance companies that is a member of the TSX Composite Index.)
The company reportedly had assets under management
of $40 billion (Canadian funds) as at December 31, 2004, and 1.9 million participating life insurance policies.
Allen Loney is the president and chief executive officer of The Great-West Life Assurance Company.
London Life was founded in London, Ontario
in 1874, and remains headquartered there.
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
company best known for its "Freedom 55" slogan, evocative of saving money to an extent that would allow one to retire at age 55. London Life is a part of Great-West Lifeco
Great-West Lifeco
Great-West Lifeco is an insurance centered financial holding company that operates in North America , Europe and Asia through 5 wholly owned, regionally focussed subsidiaries...
subsidiary The Great-West Life Assurance Company, which in turn is controlled by Power Financial Corporation
Power Financial
Power Financial Corporation is a financial holding company. The Power Corporation of Canada holds a majority of the stock in the company.-Corporate governance:...
(Great-West Lifeco owns 100% of The Great-West Life Assurance Company; Power Corporation owns 72% of Great-West Lifeco. Great-West Lifeco is the only one of those finance companies that is a member of the TSX Composite Index.)
The company reportedly had assets under management
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
of $40 billion (Canadian funds) as at December 31, 2004, and 1.9 million participating life insurance policies.
Allen Loney is the president and chief executive officer of The Great-West Life Assurance Company.
London Life was founded in London, Ontario
London, Ontario
London is a city in Southwestern Ontario, Canada, situated along the Quebec City – Windsor Corridor. The city has a population of 352,395, and the metropolitan area has a population of 457,720, according to the 2006 Canadian census; the metro population in 2009 was estimated at 489,274. The city...
in 1874, and remains headquartered there.