Canada Life plans to create 100 or more jobs in its IFSC subsidiary over the next two years, the company said yesterday. The IFSC business was established in July 2000 to sell pensions and life assurance products into the German market and has built up an Irish staff of 35 in the meantime, as well as a sales team in Germany.

Canada Life Ireland, the company's domestic Irish business, yesterday reported 63 per cent new business growth in the first half of this year, compared with the same period last year. This growth came from £162.8 million (€206.71 million) in new single premiums and £35.5 million in new annual, or regular, premiums.