Canada Life International has extended the availability and range of its Capital Redemption Bonds from both its Isle of Man and Dublin operations.
From today, the Capital Redemption options are available under the Premiere Europe and Premiere Europe Discounted Trust Accounts offered through Canada Life International Assurance (Ireland) DAC in Dublin, the firm said in a statement announcing the launch.
These accounts are designed for someone looking to defer the effect of direct UK taxation on their investment whilst retaining access to the investment or wishing to take a regular income from the investment, according to the statement.
A capital redemption bond does not need to select lives assured and the products offer two maturity options depending on the level of investment flexibility desired by the investor.
This release follows on from September’s launch of the Premiere and Premiere Alpha Discounted Trust Accounts, released through Canada Life International in the Isle of Man, the firm said.
Sean Christian, executive director of Canada Life’s International businesses said: “Our market has seen significant provider consolidation recently and this has limited the availability of Capital Redemption Bonds from providers. Traditionally these products have been issued from the Isle of Man and there is extremely limited choice from Dublin providers.”
Canada Life is part of a group of companies controlled by Great-West Lifeco Inc., a diversified financial services holding company headquartered in Winnipeg, Canada. Through its subsidiary companies, Lifeco has operations in Canada, the United States, and Europe.Canada Life International acquired the international life insurance business of Legal & General in 2015.