Great-West Lifeco Inc - Company Profile
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Great-West Lifeco Inc (Great-West), a subsidiary of Power Financial Corporation, is a financial service holding company. It offers insurance products for term life, universal life, group life, health, critical illness, disability, dental, and accident. It also offers employer-sponsored defined contribution plans, administrative and record-keeping services, fund management, investment and advisory services, individual retirement accounts, residential mortgages, and banking products. It offers asset management, retirement and investment services, annuities, and reinsurance. The company operates through its subsidiaries, including The Canada Life Assurance Company, Great-West Life and Annuity Insurance Company, and Putnam Investments, LLC, in Canada, the US, and Europe. Great-West is headquartered in Winnipeg, Manitoba, Canada.
Headquarters
Canada
Address
100 Osborne St. N., Winnipeg, Manitoba, R3C1V3
Website
www.greatwestlifeco.com
Telephone
1 204 9461190
No of Employees
33,500
Industry
Financial Services
Ticker Symbol & Exchange
GWO (TSE)
Revenue (2022)
$23.0B
78.5%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
-23%
(2022 vs 2021)
Market Cap*
$27.5B
Net Profit Margin (2022)
XYZ
-56.9%
(2022 vs 2021)
* As of and is in US$
Great-West Lifeco Inc premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Individual Life Insurance | Group Retirement and Investment Services |
| Universal Life | Investment Management Services |
| Participating Life | Fund Management, Investment and Advisory Services |
| XYZ | XYZ |
| XYZ | XYZ |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Contracts/Agreements | In August, the company's joint venture AIB Life and Tata Consultancy Services formed collaboration to launch its operation in Ireland. |
| 2023 | Contracts/Agreements | In July, the company entered into an agreement to acquire a minority stake in Sagard. |
| 2023 | Contracts/Agreements | In June, the company and AIB formed a joint venture called AIB Life. |
Competitor Comparison
| Key Parameters | Great-West Lifeco Inc | MetLife Inc | Aviva Plc | Manulife Financial Corp | Sun Life Financial Inc |
|---|---|---|---|---|---|
| Headquarters | Canada | United States of America | United Kingdom | Canada | Canada |
| City | Winnipeg | New York | London | Toronto | Toronto |
| State/Province | Manitoba | New York | England | Ontario | Ontario |
| No. of Employees | 33,500 | 45,000 | 26,382 | 38,000 | 30,941 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| R. Jeffrey Orr | Chairman | Executive Board | 2013 | - |
| Paul A. Mahon | Director; President; Chief Executive Officer | Executive Board | 2013 | - |
| Dervla M. Tomlin | Executive Vice President; Chief Risk Officer | Senior Management | 2023 | - |
| Arshil Jamal | President - Strategy, Investments, Reinsurance and Corporate Development; Head - Strategy, Investments, Reinsurance and Corporate Development | Senior Management | 2020 | - |
| David B. Simmonds | Chief Communications and Sustainability Officer; Senior Vice President | Senior Management | 2021 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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