Great-West Lifeco Inc. (GWO)

Overview

Great-West Lifeco Inc. is a prominent financial services company primarily engaged in the life and health insurance, retirement and investment services, asset management, and reinsurance sectors. With a broad global presence, the company extends its significant operations across Canada, the United States, and Europe. Operating under the esteemed brand names such as Canada Life, Irish Life, and Empower, Great-West Lifeco Inc. provides comprehensive financial solutions catering to the needs of individuals, families, businesses, and organizations. Founded in the year 1891 and anchored in Winnipeg, Canada, the company prides itself on a long-standing heritage of financial strength, reliability, and innovation. As a subsidiary of Power Financial Corporation, it stands at the forefront of the financial services industry, distinguished by its wide distribution network and diverse product portfolio.

Products and Services

Greate-West Lifeco Inc. offers an extensive range of products and services designed to meet the varied needs of its clients:

• Life and Health Insurance: This includes life, accidental death and dismemberment, disability, critical illness, health and dental protection, and creditor insurance products. These offerings are designed to provide peace of mind by ensuring financial security and healthcare coverage for policyholders and their beneficiaries.
• Retirement and Wealth Savings: Offering individual and employer-sponsored retirement savings plans, the company caters to the future financial security of its clients. These plans encompass savings, investment, and advisory services that aim to grow wealth over time, ensuring a comfortable and secure retirement.
• Income and Annuity Products: Great-West Lifeco Inc. provides income solutions such as annuities that guarantee a steady income stream in retirement. This includes both immediate and deferred annuity products, tailor-made to fit the unique financial goals and retirement plans of individuals.
• Asset Management: The company extends comprehensive asset management services, catering to a diverse clientele that includes pension schemes, insurance companies, wealth managers, and sovereign wealth funds among others. By managing assets for third-party institutional clients as well, Great-West Lifeco Inc. showcases its expansive expertise in investment management.
• Reinsurance: Great-West Lifeco Inc. is also deeply engaged in the reinsurance sector, offering life, annuity/longevity, mortgage surety, and property catastrophe reinsurance products. Through these services, the company provides risk management solutions that help other insurance companies manage their exposure and enhance their financial stability.