Canada Life Financial Corp. today outlined a major strategic initiative that will focus on increasing the company’s prominence in specific business areas within the U.K. market.

Canada Life will focus on its delivery of key products in its existing Group Life, Offshore Wealth Management and Retirement Income businesses, while strengthening its position in areas of Onshore Wealth Management and Individual insurance.

This is consistent with the company’s recent strategic review of its overall position in the U.K. marketplace and the desire to increase market share in those areas that currently show the greatest strength and potential for growth.

In keeping with the strategic direction, Canada Life will close its direct sales force. The company has developed a process for agents to join national Independent Financial Advisor (IFA) firm Lighthouse Group plc. Lighthouse was identified as the preferred choice for the sales force, following an industry review. On November 1st, Lighthouse can begin providing the 198 member sales force with the necessary IFA proficiency training and support that will provide them with the opportunity to sell a wider assortment of products and increase their levels of commission.

“Canada Life has again demonstrated its commitment to pursuing opportunities that will encourage long-term growth in our chosen markets,” said Ian Gilmour, vice president and general manager of Canada Life’s U.K. Division.

“By concentrating on more promising areas of growth and expertise, we intend to achieve greater positions in each of our selected businesses.”