Canada Life buys annuity provider Retirement Advantage

Retirement Advantage, which also operates in the equity release market, has more than 30,000 customers and more than £2bn in assets under management. This includes a £1.5bn block of in-payment annuities. Canada Life has operated in the UK since 1903 and provides retirement income, investment and employee protection products. Canada Life UK executive vice-president and chief executive Doug Brown said: "This transaction enhances our position and broadens our product suite to include equity release mortgages." Retirement Advantage was formed in 2015 when funds managed by TDR Capital m...