Great-West Lifeco is an insurance company which operates in Asia, Europe, Canada and the United States through its five regional subsidiaries. The company is listed on the Toronto Stock Exchange under the ticker symbol GWO, and its main competitors are Prudential Financial Inc., Liberty Mutual Holding Company Inc., and John Hancock Financial Services, Inc.
Great West entered the market in the US in 1906, starting in North Dakota, Minnesota, and Michigan. Then it expanded to Ohio, Missouri, Kansas, and other states in the 1940s. By 1986, the company had presence throughout Canada. Power Financial was established as a holding of Great-West Lifeco is 1984. The company acquired Canada Life Financial in 2003.
Among the subsidiaries of the company are the Canada Life Assurance Company and the Great-West Life Assurance Company. The former offers a variety of wealth management and insurance products to businesses, families, and individuals, including retirement income and investment products, critical illness, disability, and life insurance products. These are offered through advisors who manage national accounts and general agencies. The Great-West Life Assurance Company is a leading insurance company, with interests in health and life insurance, saving, retirement income, investment, and reinsurance, operating mainly in Europe and Canada. The London Life Insurance Company is another subsidiary of Great-West, featuring mortgage and life insurance products, annuities, and more. Savings and group retirement products are offered under the Great-West brand.
Putnam Investments, LLC features a wide selection of asset allocation, fixed-income, absolute return, and equity products, offered to institutional and individual investors in the US and internationally. The subsidiaries of the company provide distribution, transfer agency, trustee, shareholder, and other fiduciary services. The Great-West Life and Annuity Insurance Company is yet another subsidiary offering innovative services, retirement savings plans, and life insurance to businesses, families, and individuals. The company features a selection of retirement plans for nonprofit, corporate, and public employers, along with administrative and record-keeping services intended for companies that offer defined contribution plans. Great-West Life and Annuity also offers executive benefits and business-owned life insurance products as well as annuity and individual life insurance products.
Manulife Financial corp. is one of Canada’s leading insurance and financial services company and services millions of private and commercial clients worldwide with a wide range of insurance and other financial services. Through a clear-cut mission and business values, Manulife Financial has quickly become one of the most trusted names in business in Canada.
Manulife Financial has a very interesting history. In 1887 Sir John A. Macdonald, Canada’s first prime minister and well known successful businessman established The Manufacturers Life Insurance Company, the parent company that would eventually develop into Manulife Financial. Through careful business acquisitions it quickly became a publicly traded Canadian business in both North America and all over the world.
Manulife Financial is currently based in Toronto, Canada but services over 20 countries worldwide under the Manulife Financial umbrella. With over twenty four thousand employees worldwide, it is one of the largest insurance and financial services companies in the world.
Manulife Financial has gained much success and has weathered many of the financial hardships facing its competitors because of their openness to diversification. They were one of the first Canadian insurance companies to branch out and offer services outside of Insurance. Through many smart business acquisitions Manulife Financial has positioned itself to be a competitive provider to many aspects of modern business in Canada as well as their vast network of international servicing areas.
Today Manulife Financial offers a wide variety of products and services including:
Private and commercial banking services through Manulife Bank
Wealth management and employer offered investment opportunities
A wide range of insurance products including supplemental disability, dental and emergency medical coverage
Canadian and International Investment management
Real Estate investment management and partnerships.
Manulife Financial has grown with the times and has branched out its services internationally and has several strong holdings in the United States, China and the Pacific Island regions.
Sun Life Financial is a global financial services provider, based in Toronto. Mostly known as a life insurance company, it provides investment, retirement, and insurance solutions to its business and individual clients. The company operates in the US, Canada, Hong Kong, the United Kingdom, India, Japan, and other countries.
Sun Life Financial was created by the Irish immigrant Mathew Hamilton Gault in 1865 and named The Sun Insurance Company of Montreal. During the post-World War II period, the company became one of the major corporations in Canada and a global insurance provider. Sun Life Financial acquired the Massachusetts Financial Services in 1982 and entered the Indonesian market in 1995 through PT Asuransi Modern Sun Life.
The company offers a wide selection of products and services, including life insurance, financial planning and advice, investment and retirement savings, and health, dental, and disability insurance. The company features a range of group life and individual life insurance plans, as well as long-term care insurance, dental benefits and group insurance, and group health benefits. These are intended to help clients meet long-term and short-term dental and medical expenses, avoiding financial risk and hardship during periods of injury and illness. Sun Life Financial also offers a selection of group and individual investment income, retirement, and annuity products and services, helping clients build a financial plan tailored to their unique circumstances and needs. The group retirement and investment plans offered by Sun Life Financial make it possible for employers to offer attractive packages, thus retaining and attracting talent. In addition to these products, the company features asset management services and wealth management expertise. The investment and asset management business of Sun Life Financial includes MFS Investment Management, based in Boston, Sun Life Financial Investments, the oldest investment firm in Canada McLean Budden, and others. Another company that is part of the company’s asset management business is Birla Sun Life Asset Management, which is a joint venture, based in India.
The main competitors of the company are QC Manulife Financial Corporation, Industrial Alliance Insurance and Financial Services, and Great-West Lifeco Inc.