Business
Great-West Lifeco announces plan to proceed with amalgamation of Great-West Life, London Life and Canada Life
Great-West Lifeco announces plan to proceed with amalgamation of Great-West Life, London L...
About this update from Great-west Lifeco Inc.
[{"type":"text","content":"\n\n\n\nGreat-West Lifeco announces plan to proceed with amalgamation of Great-West Life, London Life and Canada Life\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, July 19, 2019\n\n\n\nAll figures are expressed in Canadian dollars, except as noted.  \n WINNIPEG, July 19, 2019 /CNW/ - Today, Great-West Lifeco Inc. announced that the boards of directors of its three Canadian life insurance companies, The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company, and their holding companies, Canada Life Financial Corporation and London Insurance Group Inc., have unanimously approved plans to proceed with the amalgamation of these five entities into one company – The Canada Life Assurance Company.     \nSubject to regulatory and policyholder approval, the amalgamation is expected to be completed by January 1, 2020. Special Meetings of Policyholders of each of the three amalgamating life insurance companies will be called and policyholders will receive an information circular providing background and describing the expected benefits of the amalgamation. \nUpon approval, the companies will be combined into one single life insurance company operating under The Canada Life Assurance Company name. Great-West Lifeco will remain the parent company, and the amalgamated company will retain all of the amalgamating companies' current corporate office locations. \nFor more information, visit canadalife.com/vote. \nAbout Great-West Life, London Life and Canada LifeGreat-West Life, together with London Life and Canada Life, are leading Canadian insurers focused on improving the financial, physical and mental well-being of Canadians. United under the new Canada Life brand, we help Canadians achieve their potential, every day. Our customers across Canada have trusted us to provide for their financial security needs and deliver on the promises we have made. Together, we serve the financial security needs of more than 13 million pe...