Talking to newsmen, Jim Connolly, chief marketing officer (international division) of Canada Life, said that the company would renew the memorandum of understanding (MoU) with Centurion Bank and was aiming to cement ties by investing in bank equity.

Refusing to divulge more details about the deal, Connolly said, "we are having discussions with the management of Centurion Bank." He also added that in the event of opening of the insurance sector, the policies would be sold through the bank.

Speaking about the plans for India, he said, "our focus will be on the life insurance and pension fund." He added that there was large scope for business in the field of risk cover and the company would distinguish itself by offering innovative products to suit the needs of India consumer.

Connolly further said that the company would also be looking at the rural market and added that, "the challenge will be to reachout to the market which is there."