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Canadian Carrier Closes On Life And Disability Block

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Unity Life of Canada has completed efforts to acquire the individual life and disability insurance business of the Canadian branch of Washington National Insurance Company.

Unity Life of Canada, Mississauga, Ontario, a unit of the Independent Order of Foresters, Toronto, obtained the block of business through an assumption reinsurance arrangement, Unity Life says.

The Washington National branch is a unit of Conseco Inc., Carmel, Ind.

Unity Life acquired a separate block of funeral insurance policies from another company earlier this month.

The deals reflect efforts by Unity Life to become Canada’s leading niche insurer, according to Unity Life President Anthony Poole.