Great-West Lifeco: Stock study guide

Shareowner, Mar/Apr 2003

Great-West (TSX:GWO) sells life and health insurance, financial services and reinsurance products primarily in Canada and the United States.

In Canada, over 9 million individuals, families and businesses use the company's financial services and benefit plans. Products are sold through a network of in-house security advisors (e.g. Great-West, Investors Group, Freedom 55[Symbol Not Transcribed] [trademark]); brokers; and, marketing agreements with financial institutions. Similar marketing channels are used to sell in the U.S., where more than 5 million customers use the company's managed health care, life and disability insurance, and, pension plans.

Growth is generated internally and through new products, distribution channels and acquisitions. Great-West was the first insurer in Canada to offer Internet-based group benefits services (1966) and continues to expand this functionality as part of its growth strategy. Recently, this Internet service has been extended to individuals and families without access to an employer-sponsored plan.

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Great-West is a member of the Power Financial Group of companies.

Recently, Great-West launched a 'friendly' takeover bid for Canada Life.