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Canadian Carrier Closes On Preneed Deal

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Unity Life of Canada has completed efforts to acquire the insurance business of Forethought Life Insurance Company of Canada.

Unity Life of Canada, Mississauga, Ontario, a unit of the Independent Order of Foresters, Toronto, is getting 20,000 funeral insurance policies, backed by the equivalent of about $70 million in assets in U.S. dollars, through an assumption reinsurance arrangement, Unity Life says.

Forethought Life of Canada is a branch of Forethought Financial Group Inc., Indianapolis.

Unity Life will service the Forethought Canadian policyholders and provide them with their contracted benefits and services, Unity Life says.