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Standard Life (Canada)
Encyclopedia
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, 2010 $38.2 billion CDN in assets under management
. The company offers a wide range of financial products and services to over 1.3 million individuals, including group insurance and pension plan members. In 2006, the total premium income and deposits reached $5.17 billion. http://www.standardlife.ca/en/corporate/about/index.html
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.
In Canada, Standard Life has been doing business for over 175 years. 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.
Board of Directors
Retirement
Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours.Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions don't allow the person to...
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, 2010 $38.2 billion CDN in assets under management
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
. The company offers a wide range of financial products and services to over 1.3 million individuals, including group insurance and pension plan members. In 2006, the total premium income and deposits reached $5.17 billion. http://www.standardlife.ca/en/corporate/about/index.html
History
Founded in Edinburgh (Scotland) in 1825, The Standard LifeStandard Life
Standard Life plc is a long term savings and investment business, with headquarters in Edinburgh and operations across the globe. It has 1.5 million shareholders in more than 50 countries and over 6 million customers.-History:...
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
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
(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.
In Canada, Standard Life has been doing business for over 175 years. 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
Executive Management- President and Chief Executive Officer: Joseph Iannicelli
- Chief Financial Officer: Christian Martineau
- Senior Vice-President - People and Communications: Sophie Fortin
- Senior Vice-President - Customer Experience: Jean Guay
- Senior Vice-President - Legal & Compliance: Penny Westman
- Vice-President - Internal Audit: Sylvie Des Roches
- Vice-President - Information Technology: Serge Lamothe
- Vice-President - Strategy and Development: Sylvain Messier
- Vice-President - Product Development and Management: Louise Pellerin-Lacasse
Board of Directors
- David Nish, Chairman
- William A. Black
- Philip Arthur
- Joseph Iannicelli
- Jeffrey J. McCaig
- Roger Renaud
- Dale E. Richmond
- Yves Roy
- Keith Skeoch