Manulife Buys Canadian Operations of Standard Life

September 8, 2014

How will this transaction affect existing Standard Life structured settlements?

The short answer is that there will be no change to structured settlements already in place. Structure payments will continue to be made without interruption.

The integration of Manulife and Standard Life is expected to take 18 to 24 months following the closing of the sale transaction.

Until then, Standard Life will continue to operate as usual, making payments on its existing structured settlement annuities and issuing new structured settlement annuities.

We have been advised that once the transaction has been approved and closed and the integration of the two companies is complete, all existing structures, underwritten by either The Standard Life Assurance Company of Canada or by Standard Life Assurance Limited will be assumed by Manulife.

Manulife is Canada’s largest life insurer and will, of course, honour all of its obligations under all of these structured settlement annuity contracts.

McKellar has worked with both Manulife and Standard Life, arranging structured settlements based on structured settlement annuities issued by both companies for over 30 years.

McKellar's dedicated Client Services Department will continue to handle all service needs relating to structured settlements which we have implemented.