Canada Life Assurance Co. will acquire the “non-affiliate” Affinity Operation from London & Midland General Insurance Co. located in London, Ont.

The transaction, which encompasses the affinity operation’s accidental death and dismemberment insurance, is expected to close in October upon receipt of all regulatory approvals

Premiums for the entire year 2001 are expected to exceed $15 million. Affinity marketing utilizes a business sponsor’s permission to market insurance products directly to their list of customers, for which the sponsor is paid an administration fee.

“This acquisition demonstrates Canada Life’s continuing focus on our principal business strategy,” said Bill Acton, executive vice president and director, Canadian Division, Canada Life

Customers and sponsors affected by the transaction will receive a communication package explaining any changes that could result from the acquisition. Canada Life will retain and and integrate the affinity operation staff in London.