Canada Life stops selling annuities to expats in EU due to Brexit

Pedro Gonçalves
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Canada Life stops selling annuities to expats in EU due to Brexit

Canada Life has pulled out of selling annuities to expats within the EU due to Brexit. The insurer said it had taken the decision earlier this year when the UK was approaching a March 29 Brexit deadline. The reason for this decision was due to the European Insurance and Occupational Pensions Authority (EIOPA) guidelines. According to EIOPA guidelines which state that insurance companies wishing to conduct business with EU residents post-Brexit need to apply for permission with each memb...

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