Great-West Lifeco

Title: Great-West Lifeco
Category: Insurance
Clicks: 3
Added on: Nov 27, 2011
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.
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