NU Online News Service, Oct. 31, 4:00 p.m. – Canada Life Financial Corporation, Toronto, says it has completed its acquisition of CNA Life Insurance Company of Canada, Kitchener, Ontario, a provider of preferred term life insurance products that had been a wholly owned subsidiary of CNA Financial Corporation of Chicago.
First announced on June 25, the acquisition will build Canada Life's book of term business and enable it to achieve greater operating efficiencies, the company says
Canada Life expects the transaction to be neutral to earnings for the remainder of 2002 and accretive to earnings in 2003.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.