Standard Life Canada Updates and Insights

Standard Life Canada has a long history, dating back to 1892, when it was founded as the Canada Life Assurance Company.

The company has undergone significant changes over the years, including a major rebranding in 2015, when it changed its name to Standard Life Canada.

Standard Life Canada offers a range of insurance products, including life insurance, health insurance, and disability insurance.

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Standard Life in Canada has a significant presence with 2,000 employees.

The company provides long-term savings, investment, and insurance products to about 1.4 million Canadians.

Standard Life's Canadian operations are being acquired by Manulife Financial Corp. for $4 billion in cash.

Manulife is one of the largest life insurance companies in the world, with 84,000 employees.

Standard Life's Quebec assets are a key part of the deal, and Manulife is eager to increase its presence in the province.

Manulife plans to use Standard Life's talented employee base in Quebec to grow and expand its business in Canada and globally.

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Standard Life (Canada) has been involved in some significant court cases over the years, and one notable example is the case of Standard Life Assurance Co. v. Trudeau.

The company was sued by the mother and collateral representatives of a deceased policyholder who was murdered by his wife and her lover, both of whom were convicted and executed for the crime.

The deceased had left a will bequeathing all his property to his wife, but a judgment in another court had deprived her of her rights as a beneficiary under the policies and will, leaving the defendants as the sole beneficiaries.

The court ultimately held that there was no evidence that the deceased was aware of his wife's evil intentions at the time the policies were taken out, and therefore the company was not discharged from liability.

The court dismissed the appeal for the reasons stated by Mr. Justice Würtele in the court below, with costs awarded to the company.

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Standard Life (Canada) has been a leading provider of group retirement and savings plans for over 40 years. The company has a strong presence in the Canadian market, with a network of over 20,000 advisors and a client base that includes many of Canada's largest employers.

Standard Life (Canada) has made significant investments in technology to enhance the customer experience. The company's online platform allows clients to easily manage their plans and access a range of educational resources.

Manulife has agreed to acquire Standard Life's Canadian operations for about C$4 billion in cash.

This deal significantly expands Manulife's presence in Quebec, where it has been under-represented, and will boost earnings after the first year.

Manulife's chief executive Donald Guloien said the transaction will more than double its presence in Quebec and take one to two years to integrate the assets.

The acquisition will also expand an existing wealth and asset management partnership between Manulife and Standard Life.

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Standard Life's chief executive David Nish said the deal allows the UK company to fully realise the value of the business, which has been turned around in recent years.

Manulife will fund the purchase partly with the sale of about C$2.1 billion of subscription receipts and partly with internal funds and possible future sale of debt and equity.

The deal is expected to close in the first quarter of 2015, subject to the approval of regulators and Standard Life shareholders.

Manulife expects to add about 3 Canadian cents a share over each of the next three years, excluding transition and integration costs.

The acquisition will increase Manulife's earnings capacity beyond its 2016 core earnings objective of C$4 billion.

Manulife's purchase of Standard Life's Canadian operations will be the largest acquisition in the company's history, making it the largest life insurance company in Canada.

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The insurance market has seen significant changes in recent years, and it's essential to stay up-to-date on these developments.

Regulatory reforms have been a major driver of change in the industry, with the introduction of new laws and regulations aimed at increasing transparency and accountability.

The Affordable Care Act, passed in 2010, has had a profound impact on the health insurance market, requiring insurers to provide coverage to individuals with pre-existing conditions.

This has led to a shift towards more comprehensive and affordable coverage options, benefiting millions of Americans.

Insurers have responded by offering a range of new products and services, including catastrophic plans and short-term limited-duration insurance.

The use of technology has also transformed the insurance industry, with online platforms and mobile apps making it easier for consumers to research, compare, and purchase insurance policies.

Insurers are now collecting and analyzing vast amounts of data to better understand their customers and improve their risk assessment models.

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