Operating now as `Canada Life Centurion in association with the ARDEE Group'', the company will soon file its application for an insurance licence in anticipation of bringing innovative financial services and products to India.

The formation of the new partnership creates a unique company in India, with a wealth of experience in all aspects of financial services, including asset management, business training, marketing and technology.

``Canada Life Centurion in association with The ARDEE Group" looks forward to providing excellent service to meet the needs of consumers and supporting the individuals who distribute our products and services,'' sources said.

Centurion Bank is one of the new-generation private sector players in retail and corporate banking, with a nationwide network of 70 branches offering services ranging from treasury, retail financing to capital market and personal banking products. TCFC Finance Ltd is engaged in securities investment and trading. The ARDEE Group is a leading business conglomerate engaged in real estate development, finance, engineering, education, international trading in commodities and information technology. Canada Life Financial Corporation, founded in 1999, is the holding company for The Canada Life Assurance Company.

The company, established in 1847, is the oldest Canadian life insurance player and one of the largest (based on consolidated premium income and assets). Headquartered in Toronto, it has total assets under administration in excess of $56 billion, and operates across Canada, the US, Ireland and the UK, with recent acquisitions and JVs in numerous countries.