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The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Discover the new Canada Life

The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Discover the new Canada Life

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Freedom 55 Financial is a division of The Canada Life Assurance Company and the information you requested can be found here.

London Life Insurance Company

On Jan. 1, 2020 The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company and two holding companies came together to form one company – The Canada Life Assurance CompanyOpens in a new window.

Each of the companies has a vibrant and proud history spanning more than 125 years.

Together as one company, we look forward to continuing to deliver on our purpose – to improve the financial, physical and mental well-being of Canadians.

View London Life’s history below, or view the history of Canada Life and Great-West Life.

On January 1, 2020, Great-West Life, London Life and Canada Life come together to form one company – The Canada Life Assurance Company.

London Life rebrands its financial security planning division as Freedom 55 Financial. In addition, Quadrus Investment Services Ltd., London Life’s mutual funds subsidiary, is established.

London Life is acquired by The Great-West Life Assurance Company, which also acquires Canada Life in 2003. The acquisition is announced by London Life president and CEO, Fred Tomczyk (pictured above, left), and Great-West Lifeco president and CEO, Raymond McFeetors (pictured above, right).

London Life acquires most of the Canadian operations of The Prudential Insurance Company of America.

London Life launches a series of award-winning Freedom 55 television commercials known as the “Imagine visiting yourself in the future” ad campaign.

The Canadian public is introduced to the Freedom 55 brand, which does away with a focus on death and dying and becomes “Life insurance for the living.”

London Life introduces a new company logo: a stylized maple leaf.

London Life produces the award-winning Human Journey television series in partnership with the CTV network. London Life ads running during the show’s commercial breaks proclaimed that, “to London Life, TV is a little more than entertainment. And life is more than insurance.”

London Life becomes the first insurance company in the world to install the IBM System/360 – a revolutionary computer in its day. In fact, NASA used this computer platform to send Apollo 11 to the moon and back in 1969.

London Life becomes one of Canada’s leading insurance companies with over $6.5 billion in life insurance in force. A new and modern building is planned to house its growing staff of 1,600. Fronting Queen’s Avenue, the building is completed in 1965 with each of its five floors comprising of almost an acre of workspace.

London Life sets the pace for insurance companies by using the most advanced information technology available, becoming the first Canadian insurance company to have a computer – the Remington Rand Univac. The system is so large that a window on the 4th floor is removed to facilitate its placement using a crane.

London Life expands its head office following the end of the Second World War. The resulting seven-storey extension (called “Building 2”) houses a staff of 847. As construction is completed on a third building in 1952, the number of staff working at these offices increases to 1048.

London Life, a major supporter of the Canadian war effort during the Second World War, purchases $11 million in Victory Bonds. Like many towns and cities, London forms a Citizens’ Auxiliary War Services Committee. With the support of this committee the London Life Troupers is born, providing entertainment for the military men and women who are stationed throughout the province.

A new premises on Dufferin Avenue helps accommodate London Life’s rapid growth. It includes a bowling alley for employees and a large auditorium for meetings and social functions. Today, the site is considered a London landmark.

Anti-trust investigations reveal improper business practices in the North American insurance industry. In response to this, the Government of Canada establishes a Royal Commission to investigate insurance practices. London Life emerges from the inquiry as an outstanding example of a properly run company. Good press is generated by these findings, contributing to London Life’s success. The number of head office employees grows from 22 in 1906 to 250 in 1926. By 1937, the company has offices across Canada.

In the mid-1880s London Life gains the services of John G. Richter, who joins the company as general manager. Richter is a man of firm conviction and vision. Under his leadership, the company designs insurance policies and payment schedules for the average Canadian, meaning insurance is no longer sold strictly to the very wealthy.

London Life is founded in London, Ontario, a thriving community with a population of 20,000. London’s businesses include the head offices of five savings and loans companies, eight banks, 21 insurance companies and three daily newspapers.