Canadian company acquires Gerber Life brand business
The Canadian Premier Life Insurance Company has announced that it has signed an agreement with U.S.-based Western & Southern Financial Group, to purchase the company’s block of Canadian life insurance business marketed under the Gerber Life brand.
The Gerber Life insurance policies, primarily those sold under the Grow-Up plan, are whole life policies for children 12 years of age and under. Upon closing, sometime during the second quarter of 2020, the Gerber Life Canadian policies will be fully assumed by Canadian Premier.
Canadian Premier’s chief executive officer, Suzette Huovinen, says the move is part of the company’s focus on growing in the Canadian marketplace. “We are invested in Canada,” she says, “and in pursuing opportunities that expand our footprint beyond our core group creditor insurance business.”