Stocks● Neutral
Dominic Moret joins Canada Life as BPA managing director
Moret spent 12 years at Legal & General leading bulk purchase annuity origination. Canada Life aims to scale in the UK pension risk transfer market.
Continue with
Canada Life has appointed Dominic Moret as managing director for bulk purchase annuities, hiring a 12-year veteran of Legal & General's pension risk transfer unit to lead its push into a market where defined benefit schemes are increasingly offloading liabilities.
Moret will report to chief executive Emma Watkins and join the executive committee. He spent his tenure at L&G most recently as head of origination and execution for pension risk transfer, where he led the commercial team, managed external relationships, and oversaw BPA transactions from origination to buyout.
The UK BPA market has been expanding as DB schemes seek to lock in benefits with insurers, transferring both investment and longevity risk. Canada Life, owned by Great-West Lifeco (GWO), has been gaining ground. Last year the insurer took its first schemes with deferred members to buyout and launched a member experience platform called Your Life Hub.