On February 2, Union of Canada brought a winding-up application to the court under the Winding Up and Restructuring Act. The court granted the application. Union of Canada’s assets will be sold and its liabilities will be settled in accordance with legal requirements.
All policyholders of Union of Canada are protected by Assuris, the not for profit organization that protects Canadian policyholders, within limits, in the event their life insurance company ceases operation. Assuris will work with Grant Thornton, the court-appointed liquidator, to transfer all policies to another life insurance company.
For more information, visit: www.assuris.ca or contact the Assuris Information Centre at 1-866-878-1225.