Brookfield Annuity's Strong Start Bodes well for De-risking Industry
Toronto, Ontario (12 June 2017) – With five deals completed after only five months in business, Brookfield Annuity is progressing ahead of schedule. The transactions – two buy-ins and three buy-outs – represent nearly half of the company’s year-end targets, and President and CEO Paul Forestell could not be more pleased. “We were right about Canada being a major market for pension de-risking through group annuity policies,” he says. “Brookfield Annuity’s early success suggests that our thesis was correct.”
In Canada, Brookfield Annuity sees great potential: companies of all sizes, from a range of industries, seeking de-risking opportunities similar to pension plans in the United States and United Kingdom. Brookfield Annuity’s early roster of clients includes both a Fortune Global 500 company and a smaller group with regional focus on Western Canada. “Meeting different needs in different ways requires agility and innovation,” says Forestell. “Our team of specialists is well positioned to deliver on that front.”
Forestell believes that 2017 presents a welcome challenge for Brookfield Annuity. Now licensed to operate in every Canadian jurisdiction, his company is receiving requests for proposals from across the country. “I’m encouraged by the deals we’ve made so far,” Forestell says. “Our strong start is a good sign for Brookfield Annuity and the industry at large.”
About Brookfield Annuity
Brookfield Annuity, which is headquartered in Toronto, is a Canadian life insurance company that is primarily focused on providing group annuity solutions to defined benefit pension plans. Regulated by the federal Office of the Superintendent of Financial Institutions, Brookfield Annuity is a member of Assuris, a not-for-profit organization that protects Canadian policyholders if their life insurance company should fail. Brookfield Annuity is wholly owned by Brookfield Asset Management, a leading global alternative asset manager.
For more information, see www.brookfieldannuity.com.