Canada Life today announced that its best estimate of losses directly related to the terrorist attacks of September 11th is approximately $15 million after tax.

“We committed to fuller disclosure once we had additional information and an opportunity to assess its impact,” said David Nield, chairman, president and CEO. “While a number of questions remain unanswered, including determination of the number of events which technically took place, we believe that this estimate is reasonable, given our existing reinsurance arrangements.”

Canada Life will make a provision for the $15 million in the company’s earnings this quarter.