Unity Life of Canada today announced it has completed the acquisition of the Canadian Individual Insurance business of Liberty Life Assurance Co of Boston. The transaction was approved by the Office of the Superintendent of Financial Institutions on Dec. 20, 2002 and is effective Jan. 1, 2002.

The transaction excludes a block of accidental death and dismemberment business.

This acquisition adds scale to Unity Life’s book of life business and is in keeping with the company’s ongoing strategy to pursue value-added acquisitions.

Policy administration services will be provided on behalf of Unity Life by Genisystems.ca Services Inc., a leading provider of front and back-end policy administration solutions for the international life and health insurance market.

Unity Life of Canada was created by amalgamating Toronto Mutual Life Insurance Co. and The Western Life Assurance Co.