Empowering Professional Advisers. Technical Services. For professional advisers only

Transcription

1 Empowering Professional Advisers Technical Services For professional advisers only

2 Empowering Professional Advisers Technical Services Every individual within our Technical Services Team understands that you have specific needs; you want the right technical information for you, delivered in the right way, at the right time whether it s taxation, trusts, estate planning or pensions. In a market place where provider technical support is being withdrawn from advisers, Canada Life has enhanced and realigned its support proposition, which sits under a distinctive brand, ican, an initiative that unites our Technical Services offering and reflects our commitment to you. Delivering accessible Technical Services A dedicated national sales team allowing direct access to industry specialists with more than 200 years of experience in taxation, trusts, estate planning and pensions between them. Technical information delivered personally to you by experts, in the right way at the right time, for both onshore and offshore investment business. Giving me all I need to do a professional job and empowering me to make decisions Why Canada Life? Canada Life began operating in the United Kingdom in 1903, and has developed a wide offering of products and services to suit our clients. Since 1975, we have worked with industry experts and tax specialists to develop a comprehensive range of onshore and offshore trusts, and packaged estate planning solutions. We pride ourselves on our technical expertise, advice and support in this area. And these skills have allowed us to develop unique product solutions which have stood the test of time. We employ a dedicated Technical Services Team to support professional advisers across the UK. Your Canada Life contacts In the first instance, contact your local account manager for support on specific cases or general principles surrounding tax and estate planning for both onshore and offshore products, including trusts.

3 Strength and Stability The maintenance of financial strength and stability, while growing and serving the changing needs of the marketplace, has always been fundamental to Canada Life s philosophy and management approach. A major force in the insurance world Being part of Great-West Lifeco makes us part of one of the top ten largest life insurance organisations in the world (as measured by market capitalisation) with interests in the life insurance, health insurance, investment and retirement savings and reinsurance businesses. Together with Great-West Lifeco s other operating subsidiaries, we serve the financial security needs of customers across Canada, the United States, the United Kingdom, Isle of Man, Ireland and Germany, and have circa 372 billion in assets under administration as at 30 June Current ratings Ratings are a reflection of our financial strength. Great-West and its subsidiaries have received strong ratings from the major ratings agencies. Market capitalisation When you choose Canada Life, you can be sure you are with a company which has the power to deliver its promises, and one which is on a par with some of the UK s leading brands. Rating Agency Measurement Great-West Canada Life 1 A.M. Best Company Financial Strength A+ A+ Dominion Bond Rating Service Claims Paying Ability IC-1 IC-1 Subordinated Debt AA (low) Fitch Ratings Insurer Financial Strength AA AA Moody s Investors Service Insurance Financial Strength Aa3 Aa3 Standard & Poor s Corporation Insurer Financial Strength AA AA Subordinated Debt AA- 1 Canada Life Assurance Company (which owns 100% of Canada Life Limited) Source: Great-West. Ratings are correct as at 19 March Great-West Lifeco Legal & General Market capitalisation ( billions) bn bn Aviva 14.19bn Prudential 27.75bn BSkyB 14.60bn BT Group 21.42bn Unum 4.79bn Source: Yahoo! UK & Ireland Finance as at close of business 19 March 2013.

4 Offshore Financial Strength Canada Life International Limited (CLI) is the only offshore insurer to have maintained an overall 5-star AKG Annual Financial Strength Unit Linked Rating 1 for the tenth consecutive year. The 2012 AKG Offshore Profile & Financial Strength Report reaffirmed that Canada Life International Limited is a key player in the offshore investment market, and remains amongst the leading offshore providers. Having been established for over 25 years, CLI remains amongst the leading offshore providers. The company is profitable, pays regular dividends and continues to maintain a healthy level of solvency. This strong financial position has enabled us to successfully grow our assets under administration from 1.5 billion in 2002 to 8bn as at 31 December 2012 (combined figure for CLI and CLII). CLI Institutional Limited (CLII) is a specialist life insurance company, established in CLII s business is focused on the UK Ultra High Net Worth market, with the minimum single premium investment set at 1m. Designed with the policyholder in mind, CLII s constitutional documents, regulatory licence and operating procedures place constraints on the types of business that can be written and to whom policies can be issued. This is in order to make sure that policyholders are protected from certain business risks that other insurance companies might take, and which policyholders generally have little control over. Canada Life International Assurance (CLIA) is the latest addition, established in Capitalised at inception with in excess of 5m, and significantly exceeding the minimum solvency margins requested by the CBI. It immediately benefits from the strength and stability of the Canada Life group. Traditionally, Eurozone companies operating offshore into the UK market have had to carry additional reserve to address the inherent risks associated with cross-currency income and expenses. From inception CLIA has entered an outsourcing arrangement with CLI to utilise experience and service. As a result the cost-base is within a sterling-based environment. This will enable CLIA to grow and increase the euro-based operation in a controlled way to mitigate risk. Financial strength ratings Supporting ratings Overall Unit linked Service Image & Annual strategy review Canada Life International B+ HHHHH HHHHH HHHH HHHHH CLI Institutional Limited B+ HHHHH HHHHH HHHH HHHHH Canada Life Intl Assurance Ltd B+ HHHHH HHHHH HHHH HHHHH AXA Isle of Man B+ HHHHH HHHH HHHH HHHHH Aegon Scottish Equitable B+ HHHH HHHHH HHHH HHHH Standard Life International B+ HHHH HHHHH HHHH HHHH Legal & General International B+ HHHH HHHH HHHH HHHH Royal London 360 o B+ HHHH HHH HHHH HHHH Royal Skandia B+ HHHH HHHH HHH HHHH Isle of Man Assurance B HHH HHHH HHH HHHH 1 AKG is an actuarial based consultancy specialising in the provision of ratings, information and market assistance to the financial services industry. The aim of AKG s Annual Ratings is to assist professional financial advisers to assess the strengths, solvency, strategy and service of the top offshore life assurance companies. Source: latest data available.

5 I don t need masses of help or selling to I just want the expertise to solve my problems when I have them. Canada Life is one of the few providers that can deliver. I expect high standards from them. Availability is key, but it has to be when I want it, how I want it. This is exactly what I said I want. It really gets to the heart of things. Canada Life go to the trouble of finding out what I need no other provider goes to this extent to get it right. Your analysis and support is only as good as the people delivering it. Having the right level of support available to answer questions to the depth I need is key. Source: All the quotes are from independent research carried out with professional advisers between April 2010 and June 2011.

6 Before your IHT clients are told how much they ll have to pay, show them how much tax they ll save. However reasonable your advisory fees may be, now that they are payable up front they can be hard for your clients to swallow. It s good to know, then, that with Canada Life you can pre-empt this by letting your clients see just how much tax they will save as a result of your advice. Please call your local account manager for more information. Alternatively, you can contact our Technical Services Team on or ican@canadalife.co.uk Technical Services Empowering Professional Advisers For professional adviser use only. Canada Life Limited, registered in England no Registered office: Canada Life Place, Potters Bar, Hertfordshire EN6 5BA. Telephone: Fax: Member of the Association of British Insurers. Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Insurance and Pensions Authority. Canada Life International Assurance Limited is authorised and regulated by the Central Bank of Ireland. MKT R