General insurer Canada Life is to turn itself into a specialist byconcentrating on its strengths - including its new and market-leading Bristolbased group risk business.
The business will also focus on wealth management, both offshoreand onshore, retirement income, and individual protection.
Canada Life arrived in Bristol this month when it took over thegroup risk insurance business of Royal & SunAlliance and its 200employees in a GBP60 million deal that gave it the biggest share, at26.6 per cent, of the UK market.
Today's announcement follows a strategic review of Canada Life'sposition in the marketplace, which found it would best grow its UKbusiness by building on its key areas of strength.
The Bristol business will be strengthened - the first stepincludes the addition of 85 staff who worked in Canada Life's PottersBar-based group risk division - and a move to new premises early nextyear.
Ian Gilmour, vice-president and general manager of Canada Life'sUK division, said: "We realised we could no longer be all things toall people and therefore decided to put all our efforts intodeveloping the areas in which we are strongest and expanding into newareas."
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