Canada Life is expanding its offshore bond offering for UK investors with the launch of a Dublin-based life company.
Canada Life International Assurance Limited will serve as a sister operation to Canada Life’s existing offshore operations, Canada Life International Limited and CLI Institutional Limited which are both based in the Isle of Man.
Mark Armstrong, previously the head of operations at Canada Life International, will lead the operation as managing director of the new company. Armstrong will report to Sean Christian who is the managing director of the existing two operations.
Christian says: “Our products are linked to 23 platforms and 11 back-office systems rather than being restricted to one in-house platform. Our estate planning suite of products is undoubtedly the widest range in the market.
“Up until now though we have not been able to offer advisers and their clients a jurisdictional choice of where they take their offshore bond from.”
Yellowtail Financial Planning managing director Dennis Hall says: “Dublin is within the EU and there is a pretty sound taxation structure there, so depending on the tax planning clients are doing and where they want thier investments to reside in Europe, Dublin could be a good choice.”