Canada Life Financial Corporation (French: Corporation Financière Canada-Vie), is a Canadian company that offers life, health, and disability insurance for groups and individuals. Founded in 1847, it was acquired by The Great-West Life Assurance Company in 2003, after rejecting a hostile takeover bid by rival Manulife.Hugh Cossart Baker, Sr. established the first life insurance company in Canada 21 August 1847; the Canada Life Assurance Company. The firm was incorporated in 1849. The first head office was in Hamilton, Ontario on the top floor of the Mechanics' Institute on James Street near Merrick, where the Hamilton City Centre (formerly the Eaton's Centre) now stands. The head office remained in Hamilton until 1900, when the new president George Cox moved it to Toronto. He was the fathe