Great-West Lifeco Inc. is a Canadian insurance centered financial holding company (corporation) that operates in North America (Canada and USA), Europe and Asia through 5 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 (Great West Life & Annuities Financial Inc and Putnam Investments, LLC) 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 (owned by the family since 1968) which owns 72% (down slightly from 74.6% in 2005) 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 (Canadian sales up 49%) and 401k markets (US Great West Financial sales up 34%) remain key areas of growth for the company.

Lower UK wealth management single premiums negatively affected growth. Boston-based Putnam Investments accounts for nearly a quarter of all assets under administration. Approximately half of company profit comes from Canada, a third from Europe and the rest of the United States. In the third quarter of 2010 British sales outpaced all other regions with 45% growth followed by the USA financial services business (up 41%).

In 2009 100% owned subsidiary London Life ranked 14th among Canada’s largest private companies.

Traded as:           TSX: GWO

Industry:              Financial services and insurance

Founded:            1891 (as The Great-West Life Assurance Company)

Founder:             Jeffry Hall Brock

Headquarters:   Winnipeg, Manitoba, Canada

Owner:                 Power Financial (66.9%)

Subsidiaries:      

• Canada Life
• Great-West Lifeco U.S. LLC
• Empower Retirement
• Putnam Investments

Website:              www.greatwestlifeco.com