On Friday, August 10, 2018 Air Canada announced to their employees that they would be creating a new wholly owned subsidiary, Air Canada Life Insurance Company (ACLI). ACLI will be a fully registered and regulated insurance company under the terms and conditions of all existing Canadian financial and insurance regulations and will fall under the auspices of OSFI.
The Air Canada Pension Master Trust Fund (MTF) intends to purchase group annuities from various established Canadian insurance companies. The sheer size of the MTF ($19.5 Billion as at 1/1/2018) dwarfs the ability of the Canadian annuity market to absorb such a large investment and the associated risk. Read PDF Here…
