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| type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{TSX|GWO}}
| traded_as = {{TSX|GWO}}
| ISIN = CA39138C1068
| ISIN = {{ISIN|sl=n|pl=y|CA39138C1068}}
| industry = [[Financial services]] and [[insurance]]
| industry = [[Financial services]] and [[insurance]]
| foundation = {{start date and age|1847|df=yes}} (as The Great-West Life Assurance Company)
| foundation = {{start date and age|1891|df=yes}} (as The Great-West Life Assurance Company)
| founder = [[Jeffry Hall Brock]]<ref name=brock>{{cite web|url=http://www.mhs.mb.ca/docs/people/brock_jh.shtml|title=Jeffry Hall Brock (1850-1915)|access-date=2011-01-08}}</ref>
| founder = [[Jeffry Hall Brock]]<ref name=brock>{{cite web|url=http://www.mhs.mb.ca/docs/people/brock_jh.shtml|title=Jeffry Hall Brock (1850-1915)|access-date=2011-01-08}}</ref>
| location_city = [[Winnipeg]], [[Manitoba]]
| location_city = [[Winnipeg]], [[Manitoba]]
| location_country = Canada
| location_country = Canada
| key_people = {{nowrap|Paul A. Mahon ([[President (corporate title)|President]] & [[Chief Executive Officer|CEO]])}} <br /> [[R. Jeffrey Orr]] (Chairman)
| key_people = {{nowrap|Paul A. Mahon ([[President (corporate title)|President]] & [[Chief Executive Officer|CEO]])}} <br /> [[R. Jeffrey Orr]] (Chairman)
| revenue = [[Canadian dollar|C$]]60.6 bil <small>[[Year to date|Ytd]] Dec'2020<br>{{increase}}65.9%<ref name=thirteenhalfreport>{{cite web|url=https://www.greatwestlifeco.com/annual-information/2020-annual-information-form.html|title=2020 4Q Report|date=Dec 31, 2020}}</ref></small>
| revenue = [[CA$]]60.6 bil <small>[[Year to date|Ytd]] Dec'2020<br>{{increase}}65.9%<ref name=thirteenhalfreport>{{cite web|url=https://www.greatwestlifeco.com/annual-information/2020-annual-information-form.html|title=2020 4Q Report|date=Dec 31, 2020}}</ref></small>
| net_income = [[Canadian dollar|C$]]40.0 bil [[Year to date|Ytd]] Dec'2020{{increase}}64.8%<ref>https://www.greatwestlifeco.com/annual-information/2020-annual-information-form.html</ref>
| net_income = [[CA$]]40.0 bil [[Year to date|Ytd]] Dec'2020{{increase}}64.8%<ref>{{Cite web|url=https://www.greatwestlifeco.com/annual-information/2020-annual-information-form.html|title=2020 Annual Information Form}}</ref>
| assets = [[Canadian dollar|C$]]2.0 Trillion Dec 31, 2020{{increase}}29.99%<ref name=overview/>
| assets = [[CA$]]2.0 Trillion Dec 31, 2020{{increase}}29.99%<ref name=overview/>
| aum = [[Canadian dollar|C$]]2.0 Trillion Dec'2020{{increase}}<ref name=overview/>
| aum = [[CA$]]2.0 Trillion Dec'2020{{increase}}<ref name=overview/>
| owner = [[Power Financial]] (66.9%)<ref name="Chart">{{Cite news|url=https://www.powercorporation.com/en/companies/organization-chart/ |title=Organization Chart |work=Power Corporation of Canada |access-date=August 23, 2020}}</ref>
| owner = [[Power Financial]] (66.9%)<ref name="Chart">{{Cite news|url=https://www.powercorporation.com/en/companies/organization-chart/ |title=Organization Chart |work=Power Corporation of Canada |access-date=August 23, 2020}}</ref>
| subsid = [[Canada Life]]<ref name="Chart"/><br>Great-West Lifeco U.S. LLC<ref name="Our companies">{{Cite news|url=https://www.greatwestlifeco.com/who-we-are/our-company.html |title=Our companies |work=Great-West Lifeco Inc. |access-date=August 23, 2020}}</ref><br>[[Empower Retirement]]<br>[[Putnam Investments]]
| subsid = [[Canada Life]]<ref name="Chart"/><br>Great-West Lifeco U.S. LLC<ref name="Our companies">{{Cite news|url=https://www.greatwestlifeco.com/who-we-are/our-company.html |title=Our companies |work=Great-West Lifeco Inc. |access-date=August 23, 2020}}</ref><br>[[Empower Retirement]]
| num_employees = 24,500 (2020)<ref name=overview>{{cite web|url=https://www.greatwestlifeco.com/who-we-are/overview.html|title=Great-West Lifeco Inc. Hoovers|access-date=2019-12-31}}</ref>
| num_employees = 24,500 (2020)<ref name=overview>{{cite web|url=https://www.greatwestlifeco.com/who-we-are/overview.html|title=Great-West Lifeco Inc. Hoovers|access-date=2019-12-31}}</ref>
| homepage = {{url|http://www.greatwestlifeco.com}}
| homepage = {{URL|http://www.greatwestlifeco.com}}
}}
}}
'''Great-West Lifeco Inc.''' is a Canadian insurance centered financial [[holding company]] (corporation) that operates in North America (Canada and United States), Europe and Asia through five wholly owned, regionally focused subsidiaries. Many of the companies it has indirect control over are part of its largest subsidiary [[Canada Life|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.<ref name=nytimes/><ref name=edgar>{{cite web|url=http://edgar.secdatabase.com/1792/103715505000005/filing-main.htm |title=Variable Annuity I Serr Acc of Fir Grt West Li & Annu Ins Co, Form 485APOS, Filing Date Feb 25, 2005 |publisher=secdatabase.com |access-date =May 15, 2018}}</ref> In the first half of 2011 premium income made up 63.99% of total revenue up from 56.07%.<ref name=elevenhalfreport/> The hyphen in the company's name was originally a typesetter's error.<ref name=history/>
'''Great-West Lifeco Inc.''' is a Canadian insurance-centered financial [[holding company]] that operates in North America (Canada and United States), Europe and Asia through five wholly owned, regionally focused subsidiaries. Many of the companies it has indirect control over are part of its largest subsidiary, [[Canada Life|The Canada Life Assurance Company]]; the others (Great West Life & Annuities Financial Inc.) are managed by Great-West Lifeco U.S. LLC, a U.S. based subsidiary. Great-West Lifeco is indirectly controlled by Montreal billionaire [[Paul Desmarais Jr.]] through his stake in the [[Power Corporation of Canada]] (owned by the Desmarais family since 1968), which owns 72% (down slightly from 74.6% in 2005) of Great-West Lifeco.<ref name=nytimes/><ref name=edgar>{{cite web|url=http://edgar.secdatabase.com/1792/103715505000005/filing-main.htm |title=Variable Annuity I Serr Acc of Fir Grt West Li & Annu Ins Co, Form 485APOS, Filing Date Feb 25, 2005 |publisher=secdatabase.com |access-date =May 15, 2018}}</ref> The hyphen in the company's name was originally a typesetter's error.{{citation needed|date=August 2022}}


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.<ref name=thirteenhalfreport/> 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.
For the three months ending June 2013, 63% of revenue originated in Canada, 26% from the U.S., and 10% from Europe. Group retirement products (Canadian sales up 49%) and 401k markets (U.S. Great West Financial sales up 34%) remain key areas of growth for the company.<ref name=thirteenhalfreport/> Lower U.K. wealth management single premiums negatively affected growth. Approximately half of company profit comes from Canada, a third from Europe and the rest from the United States. In the first half of 2011, premium income made up 63.99% of total revenue, up from 56.07%.<ref name="elevenhalfreport">{{cite web |date=August 2011 |title=Great-West Lifeco 2011 Second Quarter Report |url=http://www.greatwestlifeco.com/web5/groups/common/@public/documents/web_content/s7_024672.pdf}}</ref> In the third quarter of 2010, British sales outpaced all other regions with 45% growth, followed by the U.S. financial services business (up 41%).<ref name=thirdtenreport>{{cite web|url=http://www.greatwestlifeco.com/web5/groups/common/@public/documents/web_content/s7_010701.pdf|title=Great-West Lifeco 2010 Third Quarter Report '''revenue, income on page 31 of 33'''|date=2010-11-10}}</ref> In 2009, 100% owned subsidiary London Life ranked 14th among Canada's largest private companies.<ref>{{cite news|url=https://www.theglobeandmail.com/report-on-business/rob-magazine/top-1000/rankings-of-canadas-350-biggest-private-companies/article1608845/page6/|title=Rankings of Canada's 350 biggest private companies|date=2010-06-18 | location=Toronto|work=The Globe and Mail}}</ref>
In the third quarter of 2010 British sales outpaced all other regions with 45% growth followed by the USA financial services business (up 41%).<ref name=thirdtenreport>{{cite web|url=http://www.greatwestlifeco.com/web5/groups/common/@public/documents/web_content/s7_010701.pdf|title=Great-West Lifeco 2010 Third Quarter Report '''revenue, income on page 31 of 33'''|date=2010-11-10}}</ref>

In 2009 100% owned subsidiary London Life ranked 14th among Canada's largest private companies.<ref>{{cite news|url=https://www.theglobeandmail.com/report-on-business/rob-magazine/top-1000/rankings-of-canadas-350-biggest-private-companies/article1608845/page6/|title=Rankings of Canada's 350 biggest private companies|date=2010-06-18 | location=Toronto|work=The Globe and Mail}}</ref>


==History==
==History==
Great-West Life was founded in Winnipeg in 1847 by a [[Jeffry Hall Brock]], a local insurance agent. The company was incorporated on August 28, 1891, with locals such as James Ashdown on its board.<ref name="www.cbc.com/manitoba">{{Citation|title=How Great-West Life became an insurance titan |publisher=[[Canadian Broadcasting Corporation|CBC]] |url=https://www.cbc.ca/news/canada/manitoba/great-west-life-backgrounder-1.4084810 }}</ref> It built its head office in the exchange District in Winnipeg on the corner of Rorie Street and Lombard Avenue. In 1912, two policyholders who died on the [[Titanic]] were covered by the company, after its first death payout in 1893.<ref name="www.cbc.com/manitoba"/>
Great-West Life was founded in Winnipeg in 1891 by [[Jeffry Hall Brock]], a local insurance agent. The company was incorporated on August 28, 1891, with locals such as James Ashdown on its board.<ref name="www.cbc.com/manitoba">{{Citation|title=How Great-West Life became an insurance titan |publisher=[[Canadian Broadcasting Corporation|CBC]] |url=https://www.cbc.ca/news/canada/manitoba/great-west-life-backgrounder-1.4084810 }}</ref> It built its head office in the exchange District in Winnipeg on the corner of Rorie Street and Lombard Avenue. In 1912, two policyholders who died on the [[Titanic]] were covered by the company, after its first death payout in 1893.<ref name="www.cbc.com/manitoba"/>


The earliest roots of any of the companies under its management were set in 1847 [[Hamilton, Ontario]] by subsidiary Canada Life (then known as Canada Life Assurance Company); it was later acquired by '''The Great-West Life Assurance Company'''.<ref name="www.londonlife.com"/> The original name of Canada Life included the word Assurance in place of insurance, something that was more common among British companies.<ref name="www.CBC/features.com">{{cite news|url=http://www.cbc.ca/manitoba/features/urbanmyths/great.html?dataPath=/photogallery/regions/manitoba/gallery_249/xml/gallery_249.xml |title=Urban Myths:Great-West Life |access-date=2011-01-15 |url-status=dead |archive-url=https://web.archive.org/web/20080215175801/http://www.cbc.ca/manitoba/features/urbanmyths/great.html?dataPath=%2Fphotogallery%2Fregions%2Fmanitoba%2Fgallery_249%2Fxml%2Fgallery_249.xml |archive-date=February 15, 2008 }}</ref> Its second oldest company '''London Life''' was founded in 1874 and taken over by Great-West in 1997, one year after it purchased the Canadian operations of the [[Prudential Financial|Prudential Insurance Company of America]]<ref name="www.londonlife.com">{{cite web|url=http://www.londonlife.com/002/Home/CorporateInformation/CompanyOverview/EarlyYears/index.htm|title=London Life – More Than 130 Years of Service|access-date=2011-01-08}}</ref>
The earliest roots of any of the companies under its management were set in 1847 [[Hamilton, Ontario]] by subsidiary Canada Life (then known as Canada Life Assurance Company); it was later acquired by '''The Great-West Life Assurance Company'''.<ref name="www.londonlife.com"/> The original name of Canada Life included the word Assurance in place of insurance, something that was more common among British companies.<ref name="www.CBC/features.com">{{cite news|url=http://www.cbc.ca/manitoba/features/urbanmyths/great.html?dataPath=/photogallery/regions/manitoba/gallery_249/xml/gallery_249.xml |title=Urban Myths:Great-West Life |access-date=2011-01-15 |url-status=dead |archive-url=https://web.archive.org/web/20080215175801/http://www.cbc.ca/manitoba/features/urbanmyths/great.html?dataPath=%2Fphotogallery%2Fregions%2Fmanitoba%2Fgallery_249%2Fxml%2Fgallery_249.xml |archive-date=February 15, 2008 }}</ref> Its second oldest company '''London Life''' was founded in 1874 and taken over by Great-West in 1997, one year after it purchased the Canadian operations of the [[Prudential Financial|Prudential Insurance Company of America]]<ref name="www.londonlife.com">{{cite web|url=http://www.londonlife.com/002/Home/CorporateInformation/CompanyOverview/EarlyYears/index.htm|title=London Life – More Than 130 Years of Service|access-date=2011-01-08}}</ref>


When created in 1890–1891, thirty-one of the 40 insurance companies in Canada were foreign-owned and none of the Canadian-based ones were managed from [[Western Canada]]. Great-West's founder started the company as an attempt to raise capital needed locally to develop farm land and retail businesses.<ref name=brock/> Great-West's first president was Winnipeg mayor [[Alexander Macdonald (Manitoba politician)|Alexander Macdonald]] who took on that role in 1892; the founder Jeffry Hall Brock was managing director. Its first death claim was in 1893 for $1000, and in 1912 two Titanic policyholders were covered.<ref name=wtm/> In 1906 Great-West entered the American market starting in Fargo, North Dakota, followed by Michigan and Minnesota in 1920 and later Indiana, Missouri, Ohio, Kansas, California, and Pennsylvania in the early 1940s. Within its first decade it successfully entered [[Eastern Canada]], had market exposure in every Canadian province and became one the industry's leading companies in terms of growth and size; by 1896 it was present throughout Canada. Brock got sick and was forced to leave Great-West in 1912, three years before he died. He was succeeded as CEO by C.C. Ferguson in 1915. During the next twenty years the company's finances were negatively affected by World War I, the 1918 flu epidemic and the great depression but its market position remained strong; the stock market crash of 1929 and World War II had a positive impact on the company. The company was highly diversified, with investments spread amongst mortgages and government bonds. Great-West's early success in Western Canada was due in part to high insurance rates and a lack of financing available to farmers.<ref name=wtm>{{cite web|url=http://winnipegtimemachine.com/wtm/?p=219|title=Winnipeg's Insurance Company|date=2009-04-12|access-date=2011-01-15|archive-url=https://web.archive.org/web/20110718065334/http://winnipegtimemachine.com/wtm/?p=219|archive-date=2011-07-18|url-status=dead}}</ref>
When created in 1890–1891, 31 of the 40 insurance companies in Canada were foreign-owned and none of the Canadian-based ones were managed from [[Western Canada]]. Great-West's founder started the company as an attempt to raise capital needed locally to develop farm land and retail businesses.<ref name=brock/> Great-West's first president was Winnipeg mayor [[Alexander Macdonald (Manitoba politician)|Alexander Macdonald]] who took on that role in 1892; the founder Jeffry Hall Brock was managing director. Its first death claim was in 1893 for $1,000, and in 1912 two Titanic policyholders were covered.<ref name=wtm/> In 1906, Great-West entered the American market starting in Fargo, North Dakota, followed by Michigan and Minnesota in 1920 and later Indiana, Missouri, Ohio, Kansas, California, and Pennsylvania in the early 1940s. Within its first decade, it successfully entered [[Eastern Canada]], had market exposure in every Canadian province and became one the industry's leading companies in terms of growth and size; by 1896, it was present throughout Canada. Brock got sick and was forced to leave Great-West in 1912, three years before he died. He was succeeded as CEO by C.C. Ferguson in 1915. During the next twenty years the company's finances were negatively affected by World War I, the 1918 flu epidemic and the great depression but its market position remained strong; the stock market crash of 1929 and World War II had a positive impact on the company. The company was highly diversified, with investments spread amongst mortgages and government bonds. Great-West's early success in Western Canada was due in part to high insurance rates and a lack of financing available to farmers.<ref name=wtm>{{cite web|url=http://winnipegtimemachine.com/wtm/?p=219|title=Winnipeg's Insurance Company|date=2009-04-12|access-date=2011-01-15|archive-url=https://web.archive.org/web/20110718065334/http://winnipegtimemachine.com/wtm/?p=219|archive-date=2011-07-18|url-status=dead}}</ref>


In 1942, it was the first Canadian company "to enter the accident and health insurance business."<ref name="www.cbc.com/manitoba"/> In 1960, the company moved to Osborne Street North, where it had constructed a new building on the site of the old Osborne Stadium. In 1983, the company expanded again into a building on Broadway and Osborne.<ref name="www.cbc.com/manitoba"/> In 1979, US and Canadian operations became separate due mostly to rapid US growth. In 1969, Great-West was purchased by Power Corporation, which made it into a wholly owned subsidiary. In 1982, Great-West began offering a universal life policy which differed from those offered by competitors. Two years later, in 1984, the Power Financial Corporation was created to be a [[holding company]] for Great-West and its numerous businesses.<ref name=history>{{cite web|url=http://companies.jrank.org/pages/3383/Power-Corporation-Canada.html|title=Power Corporation of Canada Business Information|access-date=2011-01-08}}</ref> In 1997, Great-West Lifeco took over London Life, acquiring Canada Life Financial in 2003.<ref name="www.cbc.com/manitoba"/>
In 1942, it was the first Canadian company "to enter the accident and health insurance business."<ref name="www.cbc.com/manitoba"/> In 1960, the company moved to Osborne Street North, where it had constructed a new building on the site of the old Osborne Stadium. In 1969, Great-West was purchased by [[Power Corporation of Canada]] of [[Paul Desmarais]], and was subsequently made into a wholly owned subsidiary. The takeover prompted the resignation of Great-West president David E. Kilgour, whose exit and severance settlement was negotiated by his son-in-law, [[John Turner]], through [[Fraser Elliott]].<ref>{{Cite book |last=Newman |first=Peter C. |title=The Canadian Establishment: Volume I |publisher=[[Penguin Books]] |year=1999 |isbn=0-14-028125-8 |pages=62}}</ref> Kilgour was succeeded as president by [[James Burns (Canadian businessman)|James Burns]].<ref>{{Cite news |last=Atkinson |first=Don |date=1971-03-18 |title=Kilgour's leadership praised as he chairs his last meeting |work=The Winnipeg Tribune |pages=17}}</ref> In 1983, the company expanded again into a building on Broadway and Osborne.<ref name="www.cbc.com/manitoba"/> In 1979, US and Canadian operations became separate due mostly to rapid US growth. In 1982, Great-West began offering a universal life policy which differed from those offered by competitors. Two years later, in 1984, the Power Financial Corporation was created to be a [[holding company]] for Great-West and its numerous businesses.{{citation needed|date=August 2022}} In 1997, Great-West Lifeco took over London Life, acquiring Canada Life Financial in 2003.<ref name="www.cbc.com/manitoba"/>


Great-West Lifeco began an acquisitions spree on February 17, 2003 when it purchased Canada Life Financial for US$4.7 billion followed by Indiana Health Network incIHN three years later in 2006 and Putnam Investment Trust on August 3, 2007 for $3.9 billion (from [[Marsh & McLennan Companies]]).<ref>{{cite web|url=http://goliath.ecnext.com/coms2/gi_0199-5894463/Great-West-Lifeco-s-U.html|title=Great-West Lifeco's U.S. subsidiary announces agreement|date=2006-10-31}}</ref> On April 1, 2008 subsidiary Great-West Life & Annuity Insurance Company sold Denver based Great-West Healthcare to [[CIGNA]] for about US$1.9 billion.<ref>{{cite web|url=http://newsroom.cigna.com/article_display.cfm?article_id=875|title=Great-West Life & Annuity Insurance Company|date=2008-04-01}}</ref> With the transaction Great-West Lifeco lost about 1.9 million customers (about three quarters of their medical employers).
Great-West Lifeco began an acquisitions spree on February 17, 2003, when it purchased Canada Life Financial for US$4.7 billion followed by Indiana Health Network incIHN three years later in 2006 and Putnam Investment Trust on August 3, 2007, for $3.9 billion (from [[Marsh & McLennan Companies]]).<ref>{{cite web|url=http://goliath.ecnext.com/coms2/gi_0199-5894463/Great-West-Lifeco-s-U.html|title=Great-West Lifeco's U.S. subsidiary announces agreement|date=2006-10-31}}</ref> On April 1, 2008, subsidiary Great-West Life & Annuity Insurance Company sold Denver based Great-West Healthcare to [[CIGNA]] for about US$1.9 billion.<ref>{{cite web|url=http://newsroom.cigna.com/article_display.cfm?article_id=875|title=Great-West Life & Annuity Insurance Company|date=2008-04-01|access-date=January 8, 2011|archive-date=July 8, 2011|archive-url=https://web.archive.org/web/20110708154302/http://newsroom.cigna.com/article_display.cfm?article_id=875|url-status=dead}}</ref> With the transaction Great-West Lifeco lost about 1.9 million customers (about three quarters of their medical employers).


Other acquisitions include the 2006 takeover of [[US Bancorp]]'s [[retirement plans]] business which added $104 billion in assets at the time<ref>{{cite news|url=https://www.reuters.com/article/idUSN3017363420061130|title=Great-West to buy U.S. retirement plan business|date=2006-11-30 | work=Reuters}}</ref> and more retirement plans the same year but from [[MetLife]].<ref>{{cite news|url=http://www.bizjournals.com/stlouis/stories/2006/07/17/story13.html?from_rss=1|title=Great-West buys MetLife unit|date=2006-07-16 | first=Rick|last=Desloge}}</ref>
Other acquisitions include the 2006 takeover of [[US Bancorp]]'s [[retirement plans]] business which added $104 billion in assets at the time,<ref>{{cite news|url=https://www.reuters.com/article/idUSN3017363420061130|title=Great-West to buy U.S. retirement plan business|date=2006-11-30 | work=Reuters}}</ref> and more retirement plans the same year but from [[MetLife]].<ref>{{cite news|url=http://www.bizjournals.com/stlouis/stories/2006/07/17/story13.html?from_rss=1|title=Great-West buys MetLife unit|date=2006-07-16 | first=Rick|last=Desloge}}</ref>


Irish Life, based in Dublin as a life assurance, pensions, and investments group, was acquired by Great West Lifeco in 2013 from the Irish government.<ref name="www.irishtimes.com">{{Citation|title=Irish Life contributes €42m to Canadian parent in third quarter |publisher=[[The Irish Times]] |url= https://www.irishtimes.com/business/financial-services/irish-life-contributes-42m-to-canadian-parent-in-third-quarter-1.3278130}}</ref> On July 18, 2013, Canadian subsidiary Canada Life Limited completed the takeover of Irish Life Assurance.<ref name=thirteenhalfreport/>
Irish Life, based in Dublin as a life assurance, pensions, and investments group, was acquired by Great West Lifeco in 2013 from the Irish government.<ref name="www.irishtimes.com">{{Citation|title=Irish Life contributes €42m to Canadian parent in third quarter |publisher=[[The Irish Times]] |url= https://www.irishtimes.com/business/financial-services/irish-life-contributes-42m-to-canadian-parent-in-third-quarter-1.3278130}}</ref> On July 18, 2013, Canadian subsidiary Canada Life Limited completed the takeover of Irish Life Assurance.<ref name=thirteenhalfreport/>


Great-West Lifeco in 2018 acquired [[Invesco (Ireland)]], an Irish company.<ref name="www.cbc.com/invesco">{{Citation|title=Great-West Life buys into Irish company Invesco |publisher= [[Canadian Broadcasting Corporation|CBC]]|url=https://www.cbc.ca/news/canada/manitoba/great-west-life-acquisition-1.4628326 }}</ref> In October 2018, Stefan Kristjanson retired and was replaced by Jeff Macoun as COO of Great-West Lifeco Inc.<ref name="www.barrons.com">{{Citation|title=Great-West Lifeco announces succession of the President and Chief Operating Officer, Canada |publisher=[[Barron's (newspaper)|Barron's]] |url=https://www.barrons.com/articles/PR-CO-20181018-909230?tesla=y&tesla=y }}</ref> In January 2019, Protective Life Insurance Co. bought part of Great-West Life & Annuity Insurance Co. for $1.2 billion.<ref name="www.apnews.com">{{Citation|title=Protective Life acquires part of Great-West Life for $1B |publisher=[[AP News]] |url=https://apnews.com/Great-WestLifecoInc }}</ref> A merger of several divisions and subsidiaries to be renamed, the Canada Life amalgamation received approval from the Canadian government in November 2019. They officially begin operating as The Canada Life Assurance Company on January 1, 2020.<ref name="www..advisor.ca/insurance">{{Citation|title=Canada Life amalgamation receives government approval |publisher=Advisor's Edge |url=https://www.advisor.ca/insurance/life/canada-life-amalgamation-receives-government-approval/ }}</ref> After the merger into Canada Life, employees of the merged companies will work from company's five main offices in Winnipeg, London, Toronto, Montreal and Regina, with no cuts to employment.<ref name="www.cbc.ca/news/canada">{{Citation|title=Great-West Lifeco consolidating, rebranding as Canada Life |publisher=[[Canadian Broadcasting Corporation|CBC]] |url=https://www.cbc.ca/news/canada/manitoba/great-west-lifeco-new-name-1.5082591 }}</ref>
Great-West Lifeco in 2018 acquired Invesco (Ireland), an Irish company.<ref name="www.cbc.com/invesco">{{Citation|title=Great-West Life buys into Irish company Invesco |publisher= [[Canadian Broadcasting Corporation|CBC]]|url=https://www.cbc.ca/news/canada/manitoba/great-west-life-acquisition-1.4628326 }}</ref> In October 2018, Stefan Kristjanson retired and was replaced by Jeff Macoun as COO of Great-West Lifeco Inc.<ref name="www.barrons.com">{{Citation |title=Great-West Lifeco announces succession of the President and Chief Operating Officer, Canada |publisher=[[Barron's (newspaper)|Barron's]] |url=https://www.barrons.com/articles/PR-CO-20181018-909230?tesla=y&tesla=y |access-date=December 17, 2019 |archive-date=December 16, 2019 |archive-url=https://web.archive.org/web/20191216222748/https://www.barrons.com/articles/PR-CO-20181018-909230?tesla=y&tesla=y |url-status=dead }}</ref> In January 2019, Protective Life Insurance Co. bought part of Great-West Life & Annuity Insurance Co. for $1.2 billion.<ref name="www.apnews.com">{{Citation|title=Protective Life acquires part of Great-West Life for $1B |publisher=[[AP News]] |url=https://apnews.com/Great-WestLifecoInc }}</ref> A merger of several divisions and subsidiaries to be renamed, the Canada Life amalgamation received approval from the Canadian government in November 2019. They officially begin operating as The Canada Life Assurance Company on January 1, 2020.<ref name="www..advisor.ca/insurance">{{Citation|title=Canada Life amalgamation receives government approval |date=November 25, 2019 |publisher=Advisor's Edge |url=https://www.advisor.ca/insurance/life/canada-life-amalgamation-receives-government-approval/ }}</ref> After the merger into Canada Life, employees of the merged companies will work from company's five main offices in Winnipeg, London, Toronto, Montreal and Regina, with no cuts to employment.<ref name="www.cbc.ca/news/canada">{{Citation|title=Great-West Lifeco consolidating, rebranding as Canada Life |publisher=[[Canadian Broadcasting Corporation|CBC]] |url=https://www.cbc.ca/news/canada/manitoba/great-west-lifeco-new-name-1.5082591 }}</ref>

On May 31, 2023, Great-West Lifeco announced that [[Franklin Templeton Investments]] would acquire [[Putnam Investments]] for $925 million. Putnam Investments subsidiary, [[PanAgora Asset Management]] would not be included in the acquisition.<ref>{{Cite web |last= |first= |title=Great-West Lifeco announces sale of Putnam Investments to Franklin Templeton |url=https://www.newswire.ca/news-releases/great-west-lifeco-announces-sale-of-putnam-investments-to-franklin-templeton-854175768.html |access-date=2023-06-08 |website=www.newswire.ca |language=en}}</ref><ref>{{Cite news |last=Masters |first=Brooke |date=2023-05-31 |title=Franklin Templeton to buy Putnam Investments for more than $1bn |work=Financial Times |url=https://www.ft.com/content/2fc9820c-1f3b-450c-8b1e-0f5c9b25afdb |access-date=2023-06-08}}</ref><ref>{{Cite web |date=2023-05-31 |title=Great-West Lifeco announces sale of Putnam Investments to Franklin Templeton |url=https://finance.yahoo.com/news/great-west-lifeco-announces-sale-113500561.html |access-date=2023-06-08 |website=Yahoo Finance |language=en-US}}</ref> The deal was completed in January 2024.<ref>{{Cite web |last=Dorbian |first=Iris |date=2024-01-02 |title=Franklin Templeton scoops up Putnam Investments |url=https://www.pehub.com/franklin-templeton-scoops-up-putnam-investments/ |access-date=2024-01-03 |website=PE Hub |language=en-US}}</ref>


==Companies==
==Companies==
Line 51: Line 50:
[[File:Great-West Life U.S. HQ.jpg|thumb|right|Headquarters of American division Great-West Life & Annuity Insurance Company, [[Greenwood Village, Colorado]]]]
[[File:Great-West Life U.S. HQ.jpg|thumb|right|Headquarters of American division Great-West Life & Annuity Insurance Company, [[Greenwood Village, Colorado]]]]
*Great West Life & Annuity Insurance Company is a company that provides individuals and businesses in all of the USA's states with life insurance, retirement benefits (which are paid for by employers) and annuities distributed by its own brokers and institutions. This division began operations in the USA on May 28, 1997.<ref name=edgar/>
*Great West Life & Annuity Insurance Company is a company that provides individuals and businesses in all of the USA's states with life insurance, retirement benefits (which are paid for by employers) and annuities distributed by its own brokers and institutions. This division began operations in the USA on May 28, 1997.<ref name=edgar/>
*[[Empower Retirement]] is a retirement plan recordkeeping company based in [[Greenwood Village, Colorado]].<ref>{{cite web|url=https://www.denverpost.com/2019/09/04/broncos-empower-retirement-stadium-naming-rights/|title=Broncos, Empower Retirement agree to deal for stadium naming rights|publisher=Denver Post|access-date=14 November 2019}}</ref> It is the second-largest retirement plan provider in the US.<ref>{{cite web|url=https://www.denverbroncos.com/news/broncos-agree-to-terms-with-empower-retirement-on-21-year-deal-to-name-stadium-e|title=Broncos agree to terms with Empower Retirement on 21-year deal to name stadium 'Empower Field at Mile High'|publisher=Denver Broncos|access-date=14 November 2019}}</ref>
*[[Empower Retirement]] is a retirement plan recordkeeping company based in [[Greenwood Village, Colorado]].<ref>{{cite web|url=https://www.denverpost.com/2019/09/04/broncos-empower-retirement-stadium-naming-rights/|title=Broncos, Empower Retirement agree to deal for stadium naming rights|date=September 4, 2019|publisher=Denver Post|access-date=14 November 2019}}</ref> It is the second-largest retirement plan provider in the US.<ref>{{cite web|url=https://www.denverbroncos.com/news/broncos-agree-to-terms-with-empower-retirement-on-21-year-deal-to-name-stadium-e|title=Broncos agree to terms with Empower Retirement on 21-year deal to name stadium 'Empower Field at Mile High'|publisher=Denver Broncos|access-date=14 November 2019}}</ref>
*The Great West Life Assurance Company is Canada's biggest insurance company. The subsidiary became Canada's leader in 2003 when it paid Cdn$7.3 billion (US$4.7 billion) for Canada Life Financial.<ref name=nytimes>{{cite news|url=https://www.nytimes.com/2003/02/18/business/international-business-great-west-lifeco-to-acquire-canada-life-for-4.7-billion.html|title=Great-West Lifeco to acquire Canada Life for 4.7 billion|date=2003-02-18 | work=The New York Times|first=Bernard|last=Simon}}</ref><ref>{{cite web|url=http://www.canadafaq.ca/insurance+companies+in+canada/|title=Insurance Companies in Canada|access-date=2011-01-07}}</ref> Products include trust securities. Great-West Life, Canada Life, and London Life were rebranded as the new Canada Life on January 1, 2020
*The Great West Life Assurance Company is Canada's biggest insurance company. The subsidiary became Canada's leader in 2003 when it paid Cdn$7.3 billion (US$4.7 billion) for Canada Life Financial.<ref name=nytimes>{{cite news|url=https://www.nytimes.com/2003/02/18/business/international-business-great-west-lifeco-to-acquire-canada-life-for-4.7-billion.html|title=Great-West Lifeco to acquire Canada Life for 4.7 billion|date=2003-02-18 | work=The New York Times|first=Bernard|last=Simon}}</ref><ref>{{cite web|url=http://www.canadafaq.ca/insurance+companies+in+canada/|title=Insurance Companies in Canada|access-date=2011-01-07}}</ref> Products include trust securities. Great-West Life, Canada Life, and London Life were rebranded as the new Canada Life on January 1, 2020
*
*[[Canada Life Financial|Canada Life]] was founded in 1847 and operates in Ireland, Canada, the UK, Germany, and the Isle of Man. Business focusses on insurance (life, disability, creditor and critical illness) and wealth management. European business goes back to 1903 and provides different regions with different products (insurance and savings are offered in every region except the UK (where annuities and group insurance are provided) and Germany (where business comes from pensions and critical illness).
*[[Canada Life Financial|Canada Life]] was founded in 1847 and operates in Ireland, Canada, the UK, Germany, and the Isle of Man. Business focusses on insurance (life, disability, creditor and critical illness) and wealth management. European business goes back to 1903 and provides different regions with different products (insurance and savings are offered in every region except the UK (where annuities and group insurance are provided) and Germany (where business comes from pensions and critical illness).
*[[London Life Insurance Company|London Life]] is a 140-year-old business currently serving 2 million Canadians. Operates under the banners Great-West, Freedom 55 (savings, investments, retirement, insurance and mortgages), Quadrus Investment Services Ltd. (mutual funds), London Reinsurance Group (international business).
*[[London Life Insurance Company|London Life]] is a 140-year-old business currently serving 2 million Canadians. Operates under the banners Great-West, Freedom 55 (savings, investments, retirement, insurance and mortgages), Quadrus Investment Services Ltd. (mutual funds), London Reinsurance Group (international business).
*[[Putnam Investments]] Money manager in the business of fixed income equity, asset allocation in addition to other types of equity. customers include [[institutional investors]]. Putman accounts for 44.4% of total assets in the USA (in the form of mutual funds and institutional assets)<ref name=thirdtenreport/> and $124B worth of American mutual fund and institutional account assets under administration.<ref name=elevenhalfreport>{{cite web|url=http://www.greatwestlifeco.com/web5/groups/common/@public/documents/web_content/s7_024672.pdf|title=Great-West Lifeco 2011 Second Quarter Report|date=August 2011}}</ref>
*[[Irish Life]], acquired in 2013 for €1.3 Billion
*[[Irish Life]], acquired in 2013 for €1.3 Billion


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[[Category:Insurance companies of Canada]]
[[Category:Insurance companies of Canada]]
[[Category:Companies based in Winnipeg]]
[[Category:Companies based in Winnipeg]]
[[Category:1847 establishments in Ontario]]
[[Category:1847 establishments in Canada West]]
[[Category:Canadian companies established in 1847]]
[[Category:Canadian companies established in 1847]]
[[Category:Power Corporation of Canada]]
[[Category:Power Corporation of Canada]]
[[Category:Insurance companies based in Manitoba]]

Latest revision as of 20:51, 2 September 2024

Great-West Lifeco Inc.
Company typePublic
TSX: GWO
ISINCA39138C1068
IndustryFinancial services and insurance
Founded1891; 133 years ago (1891) (as The Great-West Life Assurance Company)
FounderJeffry Hall Brock[1]
Headquarters
Winnipeg, Manitoba
,
Canada
Key people
Paul A. Mahon (President & CEO)
R. Jeffrey Orr (Chairman)
RevenueCA$60.6 bil Ytd Dec'2020
Increase65.9%[2]
CA$40.0 bil Ytd Dec'2020Increase64.8%[3]
AUMCA$2.0 Trillion Dec'2020Increase[4]
Total assetsCA$2.0 Trillion Dec 31, 2020Increase29.99%[4]
OwnerPower Financial (66.9%)[5]
Number of employees
24,500 (2020)[4]
SubsidiariesCanada Life[5]
Great-West Lifeco U.S. LLC[6]
Empower Retirement
Websitewww.greatwestlifeco.com

Great-West Lifeco Inc. is a Canadian insurance-centered financial holding company that operates in North America (Canada and United States), Europe and Asia through five 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.) are managed by Great-West Lifeco U.S. LLC, a U.S. based subsidiary. Great-West Lifeco is indirectly controlled by Montreal billionaire Paul Desmarais Jr. through his stake in the Power Corporation of Canada (owned by the Desmarais family since 1968), which owns 72% (down slightly from 74.6% in 2005) of Great-West Lifeco.[7][8] The hyphen in the company's name was originally a typesetter's error.[citation needed]

For the three months ending June 2013, 63% of revenue originated in Canada, 26% from the U.S., and 10% from Europe. Group retirement products (Canadian sales up 49%) and 401k markets (U.S. Great West Financial sales up 34%) remain key areas of growth for the company.[2] Lower U.K. wealth management single premiums negatively affected growth. Approximately half of company profit comes from Canada, a third from Europe and the rest from the United States. In the first half of 2011, premium income made up 63.99% of total revenue, up from 56.07%.[9] In the third quarter of 2010, British sales outpaced all other regions with 45% growth, followed by the U.S. financial services business (up 41%).[10] In 2009, 100% owned subsidiary London Life ranked 14th among Canada's largest private companies.[11]

History

[edit]

Great-West Life was founded in Winnipeg in 1891 by Jeffry Hall Brock, a local insurance agent. The company was incorporated on August 28, 1891, with locals such as James Ashdown on its board.[12] It built its head office in the exchange District in Winnipeg on the corner of Rorie Street and Lombard Avenue. In 1912, two policyholders who died on the Titanic were covered by the company, after its first death payout in 1893.[12]

The earliest roots of any of the companies under its management were set in 1847 Hamilton, Ontario by subsidiary Canada Life (then known as Canada Life Assurance Company); it was later acquired by The Great-West Life Assurance Company.[13] The original name of Canada Life included the word Assurance in place of insurance, something that was more common among British companies.[14] Its second oldest company London Life was founded in 1874 and taken over by Great-West in 1997, one year after it purchased the Canadian operations of the Prudential Insurance Company of America[13]

When created in 1890–1891, 31 of the 40 insurance companies in Canada were foreign-owned and none of the Canadian-based ones were managed from Western Canada. Great-West's founder started the company as an attempt to raise capital needed locally to develop farm land and retail businesses.[1] Great-West's first president was Winnipeg mayor Alexander Macdonald who took on that role in 1892; the founder Jeffry Hall Brock was managing director. Its first death claim was in 1893 for $1,000, and in 1912 two Titanic policyholders were covered.[15] In 1906, Great-West entered the American market starting in Fargo, North Dakota, followed by Michigan and Minnesota in 1920 and later Indiana, Missouri, Ohio, Kansas, California, and Pennsylvania in the early 1940s. Within its first decade, it successfully entered Eastern Canada, had market exposure in every Canadian province and became one the industry's leading companies in terms of growth and size; by 1896, it was present throughout Canada. Brock got sick and was forced to leave Great-West in 1912, three years before he died. He was succeeded as CEO by C.C. Ferguson in 1915. During the next twenty years the company's finances were negatively affected by World War I, the 1918 flu epidemic and the great depression but its market position remained strong; the stock market crash of 1929 and World War II had a positive impact on the company. The company was highly diversified, with investments spread amongst mortgages and government bonds. Great-West's early success in Western Canada was due in part to high insurance rates and a lack of financing available to farmers.[15]

In 1942, it was the first Canadian company "to enter the accident and health insurance business."[12] In 1960, the company moved to Osborne Street North, where it had constructed a new building on the site of the old Osborne Stadium. In 1969, Great-West was purchased by Power Corporation of Canada of Paul Desmarais, and was subsequently made into a wholly owned subsidiary. The takeover prompted the resignation of Great-West president David E. Kilgour, whose exit and severance settlement was negotiated by his son-in-law, John Turner, through Fraser Elliott.[16] Kilgour was succeeded as president by James Burns.[17] In 1983, the company expanded again into a building on Broadway and Osborne.[12] In 1979, US and Canadian operations became separate due mostly to rapid US growth. In 1982, Great-West began offering a universal life policy which differed from those offered by competitors. Two years later, in 1984, the Power Financial Corporation was created to be a holding company for Great-West and its numerous businesses.[citation needed] In 1997, Great-West Lifeco took over London Life, acquiring Canada Life Financial in 2003.[12]

Great-West Lifeco began an acquisitions spree on February 17, 2003, when it purchased Canada Life Financial for US$4.7 billion followed by Indiana Health Network incIHN three years later in 2006 and Putnam Investment Trust on August 3, 2007, for $3.9 billion (from Marsh & McLennan Companies).[18] On April 1, 2008, subsidiary Great-West Life & Annuity Insurance Company sold Denver based Great-West Healthcare to CIGNA for about US$1.9 billion.[19] With the transaction Great-West Lifeco lost about 1.9 million customers (about three quarters of their medical employers).

Other acquisitions include the 2006 takeover of US Bancorp's retirement plans business which added $104 billion in assets at the time,[20] and more retirement plans the same year but from MetLife.[21]

Irish Life, based in Dublin as a life assurance, pensions, and investments group, was acquired by Great West Lifeco in 2013 from the Irish government.[22] On July 18, 2013, Canadian subsidiary Canada Life Limited completed the takeover of Irish Life Assurance.[2]

Great-West Lifeco in 2018 acquired Invesco (Ireland), an Irish company.[23] In October 2018, Stefan Kristjanson retired and was replaced by Jeff Macoun as COO of Great-West Lifeco Inc.[24] In January 2019, Protective Life Insurance Co. bought part of Great-West Life & Annuity Insurance Co. for $1.2 billion.[25] A merger of several divisions and subsidiaries to be renamed, the Canada Life amalgamation received approval from the Canadian government in November 2019. They officially begin operating as The Canada Life Assurance Company on January 1, 2020.[26] After the merger into Canada Life, employees of the merged companies will work from company's five main offices in Winnipeg, London, Toronto, Montreal and Regina, with no cuts to employment.[27]

On May 31, 2023, Great-West Lifeco announced that Franklin Templeton Investments would acquire Putnam Investments for $925 million. Putnam Investments subsidiary, PanAgora Asset Management would not be included in the acquisition.[28][29][30] The deal was completed in January 2024.[31]

Companies

[edit]

Headquarters of American division Great-West Life & Annuity Insurance Company, Greenwood Village, Colorado
  • Great West Life & Annuity Insurance Company is a company that provides individuals and businesses in all of the USA's states with life insurance, retirement benefits (which are paid for by employers) and annuities distributed by its own brokers and institutions. This division began operations in the USA on May 28, 1997.[8]
  • Empower Retirement is a retirement plan recordkeeping company based in Greenwood Village, Colorado.[32] It is the second-largest retirement plan provider in the US.[33]
  • The Great West Life Assurance Company is Canada's biggest insurance company. The subsidiary became Canada's leader in 2003 when it paid Cdn$7.3 billion (US$4.7 billion) for Canada Life Financial.[7][34] Products include trust securities. Great-West Life, Canada Life, and London Life were rebranded as the new Canada Life on January 1, 2020
  • Canada Life was founded in 1847 and operates in Ireland, Canada, the UK, Germany, and the Isle of Man. Business focusses on insurance (life, disability, creditor and critical illness) and wealth management. European business goes back to 1903 and provides different regions with different products (insurance and savings are offered in every region except the UK (where annuities and group insurance are provided) and Germany (where business comes from pensions and critical illness).
  • London Life is a 140-year-old business currently serving 2 million Canadians. Operates under the banners Great-West, Freedom 55 (savings, investments, retirement, insurance and mortgages), Quadrus Investment Services Ltd. (mutual funds), London Reinsurance Group (international business).
  • Irish Life, acquired in 2013 for €1.3 Billion

References

[edit]
  1. ^ a b "Jeffry Hall Brock (1850-1915)". Retrieved January 8, 2011.
  2. ^ a b c "2020 4Q Report". December 31, 2020.
  3. ^ "2020 Annual Information Form".
  4. ^ a b c "Great-West Lifeco Inc. Hoovers". Retrieved December 31, 2019.
  5. ^ a b "Organization Chart". Power Corporation of Canada. Retrieved August 23, 2020.
  6. ^ "Our companies". Great-West Lifeco Inc. Retrieved August 23, 2020.
  7. ^ a b Simon, Bernard (February 18, 2003). "Great-West Lifeco to acquire Canada Life for 4.7 billion". The New York Times.
  8. ^ a b "Variable Annuity I Serr Acc of Fir Grt West Li & Annu Ins Co, Form 485APOS, Filing Date Feb 25, 2005". secdatabase.com. Retrieved May 15, 2018.
  9. ^ "Great-West Lifeco 2011 Second Quarter Report" (PDF). August 2011.
  10. ^ "Great-West Lifeco 2010 Third Quarter Report revenue, income on page 31 of 33" (PDF). November 10, 2010.
  11. ^ "Rankings of Canada's 350 biggest private companies". The Globe and Mail. Toronto. June 18, 2010.
  12. ^ a b c d e How Great-West Life became an insurance titan, CBC
  13. ^ a b "London Life – More Than 130 Years of Service". Retrieved January 8, 2011.
  14. ^ "Urban Myths:Great-West Life". Archived from the original on February 15, 2008. Retrieved January 15, 2011.
  15. ^ a b "Winnipeg's Insurance Company". April 12, 2009. Archived from the original on July 18, 2011. Retrieved January 15, 2011.
  16. ^ Newman, Peter C. (1999). The Canadian Establishment: Volume I. Penguin Books. p. 62. ISBN 0-14-028125-8.
  17. ^ Atkinson, Don (March 18, 1971). "Kilgour's leadership praised as he chairs his last meeting". The Winnipeg Tribune. p. 17.
  18. ^ "Great-West Lifeco's U.S. subsidiary announces agreement". October 31, 2006.
  19. ^ "Great-West Life & Annuity Insurance Company". April 1, 2008. Archived from the original on July 8, 2011. Retrieved January 8, 2011.
  20. ^ "Great-West to buy U.S. retirement plan business". Reuters. November 30, 2006.
  21. ^ Desloge, Rick (July 16, 2006). "Great-West buys MetLife unit".
  22. ^ Irish Life contributes €42m to Canadian parent in third quarter, The Irish Times
  23. ^ Great-West Life buys into Irish company Invesco, CBC
  24. ^ Great-West Lifeco announces succession of the President and Chief Operating Officer, Canada, Barron's, archived from the original on December 16, 2019, retrieved December 17, 2019
  25. ^ Protective Life acquires part of Great-West Life for $1B, AP News
  26. ^ Canada Life amalgamation receives government approval, Advisor's Edge, November 25, 2019
  27. ^ Great-West Lifeco consolidating, rebranding as Canada Life, CBC
  28. ^ "Great-West Lifeco announces sale of Putnam Investments to Franklin Templeton". www.newswire.ca. Retrieved June 8, 2023.
  29. ^ Masters, Brooke (May 31, 2023). "Franklin Templeton to buy Putnam Investments for more than $1bn". Financial Times. Retrieved June 8, 2023.
  30. ^ "Great-West Lifeco announces sale of Putnam Investments to Franklin Templeton". Yahoo Finance. May 31, 2023. Retrieved June 8, 2023.
  31. ^ Dorbian, Iris (January 2, 2024). "Franklin Templeton scoops up Putnam Investments". PE Hub. Retrieved January 3, 2024.
  32. ^ "Broncos, Empower Retirement agree to deal for stadium naming rights". Denver Post. September 4, 2019. Retrieved November 14, 2019.
  33. ^ "Broncos agree to terms with Empower Retirement on 21-year deal to name stadium 'Empower Field at Mile High'". Denver Broncos. Retrieved November 14, 2019.
  34. ^ "Insurance Companies in Canada". Retrieved January 7, 2011.
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