A local pension provider and investment firm has teamed up with one of North America's largest life assurance companies.

And the initial benefit provided by the new partnership between Kitson Benefit Services (KBS) and The Canada Life Assurance Company is that KBS' pension clients can access their pension information securely via the Internet.

The partnership became effective February 1, 2000, and will provide the Bermuda public with an increased range of choices for pensions and investments, better access to leading expertise and the strength and security of one of Canada's largest financial service providers.

Canada Life is an international company with worldwide assets under administration equivalent to $35 billion Bermuda dollars.

The company has the equivalent of more than US$200 billion of life insurance in force and operations in Canada, the US, UK, Ireland, Hong Kong, the Bahamas and Bermuda.

It is rated A by AM Best Company, AA by Duff and Phelps, Aa3 by Moody's Investor Services and A by Standard & Poor's.

Josie Reynolds, Vice President, Administration, of Kitson Benefit Services, said: "To continue to be successful, we believe we must continue to focus on offering our clients the best in personal service.

"Together with Canada Life, we envisage bringing new products to Bermuda and broadening the company's share of the Bermuda financial services market.

"The first innovation we are able to offer as a benefit of the alliance between Kitson Benefit Services and Canada Life is that website www.canadalife.com.

"Bermuda pension holders will be able to review information about their portfolio and its performance online, an advanced benefit unique to Bermuda for pensions arranged through KBS.'' Kitson Group of Companies President Kirk Kitson said: "We are extremely pleased to have secured the agency for The Canada Life Assurance Company in Bermuda.

"Canada Life and Kitson Benefit Services both enjoy healthy reputations in the market place and we see each other as a natural fit.'' He continued: "The alliance will help us to grow and adds to the strength and solidity of our operations.'' Vice-President & Director of Canada Life's International and Reinsurance Division Joseph Gilmour said: "Canada Life is pleased to have this opportunity to enhance our presence in Bermuda.

"We are committed to international expansion, and are excited about the growth potential for our Bermudian business.'' Partners: Joseph Gilmour (left) of Cda. Life & Kirk Kitson of the Kitson Group