National Life Assurance Co. of Canada has entered into an agreement with BMO Life Insurance Co to supply administrative and information processing services to BMO Life, and assist them with the development of their term and universal life insurance products.

“This agreement will allow us to move forward with our organization’s growth strategy to develop distribution and administrative agreements with other strong financial institutions,” stated Vince Tonna, president and COO, National Life. “It is also a means for us to leverage the service expertise that we have developed and lower unit costs by increasing business substantially with a relatively small increase in infrastructure costs.”

“BMO Life is set to deliver insurance products using a virtual organization,” said Gordon Henderson, president and CEO, BMO Life. “We wanted to develop a life insurance operation quickly that would provide ‘best of class’ service to our clients. We chose National Life for their excellent reputation in customer service and their ability to adapt quickly and positively within a changing environment.”