The Canada Life Assurance Company

The Canada Life Assurance Company is a wholly owned subsidiary of Great-West Lifeco Inc. Great-West Lifeco is, in turn, controlled by Power Corporation of Canada, the Montreal-based holding company long associated with the Desmarais family. The operational chain is Canada Life → Great-West Lifeco → Power Corporation. Day-to-day investment decisions are made by Canada Life's internal teams, not dictated by the parent.

The general account invests policyholder liabilities across a mix of public fixed income, direct commercial mortgages, private corporate debt, and direct real estate equity. The firm is a significant direct originator of commercial mortgages across Canada and holds a portfolio of office, residential, and industrial properties in both Canada and the United States. Private credit investments target mid-market Canadian businesses through bilateral lending relationships.

Yes. Canada Life maintains a US investment presence from its Greenwood Village, Colorado office, holding multifamily residential assets in North Carolina, commercial properties in California and Colorado, and an industrial distribution center in Georgia. The firm also operates in the UK market, though the core investment portfolio remains weighted to Canadian real estate and private debt.

Not exactly. As an insurance company, Canada Life invests the general account — funded by policyholder premiums and reserves — rather than a pension trust. This means the liability structure is driven by insurance obligations, not pension benefit streams. The firm can hold larger allocations to illiquid private assets without the quarterly liquidity constraints that pension funds face from their beneficiaries.

Canada Life directly owns several signature Canadian office properties — 330 University Avenue in Toronto and 100 Osborne Street North in Winnipeg — as well as purpose-built rental buildings in Toronto, Montreal, Mississauga, and Edmonton. In the United States, confirmed holdings include The Mint apartment tower in Charlotte, North Carolina, and a commercial office building in Sunnyvale, California. The firm also owns an industrial distribution center in Atlanta.