Great-West Lifeco Logotype Preview
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Great-West Lifeco Inc. is a Canadian insurance centered financial holding company that operates in North America, Europe and Asia through fuve wholly owned, regionally focused subsidiaries. Many of the companies it has indirect control over are part of its largest subsidiary The Canada Life Assurance Company; the others are managed by US based subsidiary Great-West Lifeco US Inc. Great-West Lifeco is indirectly controlled by Montreal billionaire Paul Desmarais through his stake in the Power Corporation of Canada which owns 72% of Great-West Lifeco. In the first half of 2011 premium income made up 63.99% of total revenue up from 56.07%. The hyphen in the company’s name was originally a typesetter’s error. For the three months ended June 2013, 63% of revenue originated in Canada, 26% from the US, 10% from Europe. Group retirement products and 401k markets remain key areas of growth for the company. Lower UK wealth management single premiums negatively affected growth.