Overview

Canada Life believes in the importance of good corporate governance and the central role played by directors in the governance process. Canada Life believes that sound corporate governance is essential to the well-being of the Company, its shareholders and policyholders.

Canada Life is a subsidiary of The Great-West Life Assurance Company. Great-West Life, together with subsidiaries London Life and Canada Life is a leading Canadian insurer. In Europe, Canada Life has operations in the United Kingdom, Isle of Man and Germany, and Ireland through its subsidiary Irish Life.

Corporate governance practices are aligned between and Canada Life, London Life, Great-West Life and Great-West Life’s parent corporation, Great-West Lifeco Inc. All of the directors of Canada Life are also directors of Great-West Life and London Life and most of the directors of Great-West Lifeco are also directors of Canada Life.

Each of Canada Life, Great-West Life, and London Life has adopted essentially the same Board and Committee charters and other governance structures, processes and practices, and the Board of Great-West Lifeco monitors whether the charters and other governance structures, processes and practices have been implemented and/or followed by these subsidiaries.