Canada Life Financial
Encyclopedia
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
company that offers life, health, and disability insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
for groups and individuals.
Founded in 1847, it was acquired by The Great-West Life Assurance Company in 2003, after rejecting a hostile takeover bid by rival Manulife.
Hugh Cossart Baker, Sr.
Hugh Cossart Baker, Sr.
Hugh Cossart Baker, Sr. was a banker, businessman, mathematician.Hugh Cossart Baker, Sr. established the first life insurance company in Canada 21 August 1847; the Canada Life Assurance Company. The firm was incorporated in 1849...
established the first life insurance company in Canada 21 August 1847; the Canada Life Assurance Company. The firm was incorporated in 1849. The first head office was in Hamilton, Ontario
Hamilton, Ontario
Hamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...
on the top floor of the Mechanics' Institute on James Street near Merrick, where the Hamilton City Centre (formerly the Eaton's Centre) now stands. The head office remained in Hamilton until 1900, when the new president George Cox
George Albertus Cox
George Albertus Cox was a very prominent Canadian businessman and a member of the Canadian Senate.He was born in Colborne, Upper Canada in 1840. He began work as a telegraph operator for the Montreal Telegraph Company and became their agent in Peterborough, Ontario. In 1861, he became an agent for...
moved it to Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
. He was the father of telephone pioneer Hugh Cossart Baker, Jr.
Hugh Cossart Baker, Jr.
Hugh Cossart Baker, Jr. , Businessman, telephone pioneer.On June 20, 1877, Hugh Cossart Baker, Jr. started up the first commercial telephone service in Canada in the city of Hamilton, Ontario. Then in 1878, he made the first telephone exchange in the British Empire...
.
Canada Life is based in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
, Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
at the historic Canada Life Building
Canada Life Building
The Canada Life Building is a historic office building in Toronto, Ontario, Canada. The fifteen-floor Beaux Arts building was built by Sproatt & Rolph and stands at , including its weather beacon....
on University Avenue. It also commissioned the Canada Life Building in Montreal
Canada Life Building, Montreal
The Canada Life Building in Montreal, Quebec, Canada was completed in 1895 by Buffalo, New York architect Richard Waite and is an example of a first-generation skyscraper....
.
Besides Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, Canada Life has offices in:
- United KingdomUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
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- Republic of IrelandRepublic of IrelandIreland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
- GermanyGermanyGermany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
- BrazilBrazilBrazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
- United StatesUnited StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...