Standard Life (Canada)

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Standard Life Assurance Company of Canada
Type Subsidiary of (Standard Life)
Industry Financial services
Founded 1833
Headquarters Montreal, Quebec, Canada
Key people Charles Guay (President & CEO)
Products Insurance
Employees 2,000
Parent Standard Life PLC
Website Standard Life - Canada

The Standard Life Assurance Company of Canada (also known as Standard Life) is a major investment, retirement and financial protection company and is part of the Standard Life Group that is headquartered in Edinburgh, Scotland. Standard Life has been a prominent player in the Canadian marketplace since 1833.

The company currently employs over 2,000 people across Canada. Products and services offered include group savings and retirement, group insurance, individual life insurance, savings and retirement, mutual funds and portfolio management.

Standard Life had as of September 30, 2014 $52.1 billion CDN in assets under management. The company offers a wide range of financial products and services to over 1.4 million individuals, including group insurance and pension plan members. [1]

History[edit]

Founded in Edinburgh (Scotland) in 1825, The Standard Life Assurance Company demutualized in 2006 and a new public company - Standard Life PLC - was born. Standard Life plc was listed on the London Stock Exchange (LSE), under SL on July 10, 2006. The Standard Life Assurance Company of Canada is Standard Life plc's largest operation outside the UK.

The Standard Life Assurance Company was established in 1825 and the first Standard Life Assurance Company Act was passed by Parliament in 1832. Standard Life was reincorporated as a mutual assurance company in 1925.

The Standard Life group originally operated only through branches or agencies of the mutual company in the United Kingdom and certain other countries.

The Canadian branch was founded in 1833 and the Irish operations in 1838. This largely remained the structure of the group until 1996, when it opened a branch in Frankfurt, Germany with the aim of exporting its UK life assurance and pensions operating model to capitalise on the opportunities presented by “Third Life Directive” and offer a product range in that market with features which local providers were unable to offer.

Standard Life Financial Inc., which wholly owns The Standard Life Assurance Company of Canada and Standard Life Mutual Funds Ltd., is Standard Life plc's largest operation outside the UK.

In the 1990s, the group also sought to diversify its operations into areas which complemented its core life assurance and pensions business, with the intention of positioning itself as a broad range financial services provider.

Corporate governance[edit]

Executive committee

  • David Nish, Chief Executive, Standard Life plc
  • Charles Guay, President and Chief Executive Officer
  • Graham Nichol, Senior Vice-President, Customer Experience
  • Graham Rowan, Senior Vice-President, Technology
  • Kevin Powers, Senior Vice-President, Finance and Strategy
  • Louise Pellerin-Lacasse, Vice-President, Risk Management
  • Michel Fortin, Senior Vice-president, Marketing and Customer Solutions
  • Penny Westman, Senior Vice-President, Legal and Compliance
  • Sandy Begbie, Director, People and Transformation
  • Sophie Fortin, Senior Vice-President, People, Business Change and Communications

Board of Directors

  • David Nish, Chairman of the Board
  • Charles Guay
  • William A. Black, Deputy Chairman
  • Philip Arthur
  • Roger Renaud
  • Gerry Rocchi
  • Yves Roy
  • Keith Skeoch
  • Sheelagh Whittaker

Real Estate[edit]

Standard Life also owns and operates over 11,000,000 square feet (1,000,000 m2) of office, retail and industrial space through its Real Estate division.

External links[edit]