Great-West Life was one of Canada’s oldest and largest life insurance companies. Through a series of mergers, Great-West Life, London Life, and Canada Life became one company in 2020. The name of this newly formed company is Canada Life Assurance Company; they now service any policies once owned through Great-West Life. To contact Canada Life (formerly Great-West Life), please call 1-888-252-1847.
Great-West Life went through major changes in the company’s structure in 2020. The following is a brief history of Great-West Life Insurance, the current status of the company, and how to reach them regarding your policies.
Great-West Life Assurance Company was founded and incorporated in the year 1891 in Winnipeg, Manitoba. It wasn’t until 1942 that Great-West Life became the first Canadian company to enter into the accident and health insurance business.
Jeffrey Hall Brock started the company due to a lack of insurance options offered to Western Canadians at the time. The head office was developed within the “Exchange District” of Winnipeg, which is located on the corner of Rorie Street and Lombard Avenue.
Interestingly, in 1912, two Great-West Life policyholders were passengers on the Titanic, and the company covered their policies with no questions asked (Great-West Life was also responsible for the first death payout of a policyholder in 1893). The word assurance was used instead of “insurance” during these early days, as that was the term more commonly used throughout the British Commonwealth.
Over the years they would become colloquially known as Great-West Life above anything else, although the beginning of 2020 brought a big change for the company. In 2019, the company announced it would be merging its brand with other companies under the same ownership, London Life and Canada Life.
The company is now known as Canada Life, although there are times where you will see references to Great-West Life through the transition period over the next few months and years. Rest assured, all of the policies you had before this merger will continue with the newly combined companies. These companies have a deep history in the Canadian insurance landscape.
London Life Insurance Company is almost 140-years old and was responsible for serving well over 2 million Canadians. They previously merged with Great-West Life in 1997 when they completed their first merger until the company merged again with Canada Life in 2003 while retaining its branding and still operating as a separate entity.
London Life is known for its “Freedom 55” motto, which refers to its financial services which aim to help their customers save enough money to where they can retire at the age of 55.
Hugh Cossart Baker Sr. founded the Canada Life Assurance Company on August 21st, 1847. The firm was officially incorporated in 1849, and had to fight off a takeover bid by Manulife in 2003; this led to their eventual acquisition by the Great-West Life Assurance Company (through owner Power Financial Corporation) in that year.
The very first head office of Canada Life Assurance Company was located in Hamilton, Ontario, eventually moving to what is now known as the “Birks Building” (on King Street East and Hughson Street South in Hamilton). They moved several other times, once to the Canada Life Building that was finished development in 1895, and once more to their eventual Toronto headquarters in 1900.
Cawthra House was the company headquarters from 1926 to 1929 at King and Bay Streets in Toronto. They acquired and founded additional sister companies like Canada Life (UK) and Crown Life Insurance Company of Canada (CLICC).
