Unity Life of Canada has completed efforts to acquire most of the insurance business of MetLife Canada through an assumption reinsurance agreement.
The deal includes 100,000 life and health insurance policies and a small number of group annuity contracts, according to Unity Life of Canada, Mississauga, Ontario, a unit of the Independent Order of Foresters, Toronto,
Unity Life is taking responsibility for about $300 million in policy liabilities from MetLife Canada, a unit of MetLife Inc., New York.