Irish Life Investment Managers

ILIM is an indirect subsidiary of Great-West Lifeco, the Canadian financial services holding company. Great-West Lifeco acquired Irish Life Group in 2013 from the Irish government, which had taken temporary ownership during a restructuring of the former parent, Permanent TSB. ILIM operates within the Irish Life Group, which retains its own brand and board structure. This ownership places ILIM within a global insurance ecosystem managing over CAD $1.9 trillion in assets, but the firm's mandate remains focused on the Irish market.

As the internal asset manager for Irish Life Assurance, ILIM invests first against the liability profile of its parent's policyholder book. This means fixed income and liability-matching strategies dominate the portfolio, with alternatives like real estate and infrastructure playing a supporting role. The permanent capital base removes the need for external fund-raising and allows ILIM to hold assets through market cycles without forced selling. The model closely resembles the internal investment offices at European insurers like Allianz Global Investors or AXA Investment Managers.

Irish commercial real estate represents ILIM's largest single alternative asset class exposure. The firm has been a cornerstone investor in Dublin's office, retail, and logistics markets for decades, typically acquiring assets directly rather than through fund structures. Its property portfolio is managed internally and reflects the parent's need for long-duration, inflation-sensitive cash flows. Specific property holdings, including prominent Dublin office buildings, have been disclosed over time in property press and the firm's own publications.

Yes. ILIM provides investment management services to external Irish pension funds, charities, and corporate clients. Its pooled fund range covers equities, bonds, property, and multi-asset strategies available to third-party institutions. However, the external book is smaller relative to the captive general account — Irish Life Assurance remains the dominant client by a wide margin. The firm's external fiduciary business operates under the same regulatory framework as its internal mandate.

Irish Life Health is a sister company within the Irish Life Group, formed after the group acquired Aviva Health and GloHealth in 2016. ILIM manages the investment reserves that back Irish Life Health's insurance liabilities, similar to its role for the life assurance business. Both entities sit under the same group holding company, and the health unit's reserves add scale to ILIM's fixed income and cash management mandates. The health insurance business operates as a separate regulated entity.