Power Financial Corporation

Title: Power Financial Corporation
Category: Finance
Clicks: 0
Added on: Nov 26, 2011
Power Financial is a diversified management company and a financial holding, which has interests, indirectly or directly, in businesses in the financial sector in Europe, the United States, and Canada. Power Financial was established in 1940 and offers health insurance, life insurance, annuities, asset management, reinsurance, and investment and retirement savings. In addition, the company offers planning services and security advisory, along with fund management and wealth management services and products. Power Financial features retirement income and estate and tax planning services, and mortgage products. The company also manages and distributes managed asset products such as mutual funds. Power Financial is listed on the Toronto Stock Exchange under the ticker symbol PWF. The majority of the company’s stock is held by the Power Corporation of Canada, which has assets in Europe and North America. The main competitors of Power Financial are Sun Life Financial Inc. and Manulife Financial Corporation, both based in Toronto, and AXA Financial Inc., based in New York.

The company has interest in a variety of companies, including Canada Life, London Life, Investors Group, Putnam Investments, and others. Great-West Lifeco is a holding company, which specializes in investment management, retirement savings, health insurance products, reinsurance, and life insurance. London Life offers mortgage and insurance products and a wide range of financial services from other financial establishments. Through London Reinsurance Group, the company has presence on the global reinsurance markets. Canada Life offers wealth management and insurance solutions around the world, particularly in Ireland, the United Kingdom, Canada, Germany, and the Isle of Man. Canada Life offers annuity and structured reinsurance solutions for life insurance companies in the US and internationally, through the Canada Life Reinsurance Division. Putnam Investments is a money management firm, based in Boston, with more than seventy years of investment experience. The company offers retirement and investment products to institutional investors, clients, plan sponsors, and advisors.

The financial services company Mackenzie Financial Corporation is among the leading investment managers in Canada. It has over 160 mutual funds and provides investment advisory on the territory of North America.
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