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London Reinsurance Group

London Reinsurance Group was incorporated in 1991 and is 100 percent owned by London Life Insurance Company, London Life, which was incorporated in Canada in 1874.  London Life is a wholly owned subsidiary of the Great West Life Assurance Company. The Company divested its 100 percent investment in International Reinsurance Managers, in two transactions. 49 percent was divested at year end 2003 and the remaining 51 percent in June 2004. The impact of these transactions was not material to these consolidated financial statements.
Great West is a leading Canadian insurer, with interests in life insurance, health insurance, investment and retirement savings and reinsurance businesses, primarily in Canada and Europe. Great West and its subsidiaries, London Life and Canada Life, serve the financial security needs of nearly twelve million people across Canada and have more than 123 billion dollars in assets under administration. Great West Life, London Life and Canada Life are members of the Power Financial corporation group of companies.

The consolidated financial statements are the responsibility of management and are prepared in accordance with Canadian generally accepted accounting principles.  The financial statements necessarily include amounts that are based on management’s best estimate due to dependence on subsequent events.  These estimates are based on careful judgments and have been properly reflected in the financial statements.  In the opinion of management, the accounting practices utilized are appropriate in the circumstances and the consolidated financial statements fairly reflect the financial position and results of operations of the company within reasonable limits of materiality.
These consolidated financial statements include the accounts of London Reinsurance Group Inc and its subsidiaries LRG or the Company. Their operations are carried out through its subsidiaries that conduct reinsurance business with clients based primarily in the United States, England and continental Europe.  The Company is a composite reinsure that writes life reinsurance, accident and health reinsurance, annuity reinsurance and property and casualty reinsurance.
The company is a very professionally managed company that believes in treating their staff as well as they treat their customers. This is because the company believes in the old saying that happy workers make for happy customers. This has proven true through the years for the company as proven by the customer retention and satisfaction as shown by the customers. 

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