Canada Life was the only qualifying life company to decline to provide its policy maturity values for inclusion in the survey - the fourth consecutive year the company has refused to participate.

Canada Life, which took over Abbey Life, last participated in 1996 when it significantly underperformed the market. Since then it has refused to participate in the survey.

Commenting on the non-participation, FDM principal Mr Eddie Hobbs said: "Canada Life provided results in 1996 and came last in the 10 year unit-linked sector. Its 1996 result also significantly underperformed results from the with-profit sector."

Mr Hobbs stressed that Canada Life was the only life office in the Republic that did not wish to have its with-profit and unit-linked maturity results measured against its competitors. And in a clear warning to investors he said that "under the circumstances, the survey cannot recommend investment in Canada Life's product range and advises consumers to base their investment strategies on the offerings from the remainder of the market place".