Investor Presentaiton
Sale of U.S. individual life and annuity business
GREAT-WEST
LIFECO INC.
• On January 24, 2019, Great-West Lifeco announced an agreement by its
subsidiary, Great-West Life & Annuity Insurance Company, to sell, via reinsurance,
substantially all of its U.S. individual life insurance and annuity business1
• The transaction is expected to close in the second quarter of 2019 and result in an
after-tax transaction value of approximately US$1.2 billion
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Lifeco expects to recognize an IFRS book value loss of approximately US$70
million and transaction costs of US$57 million, at closing
Putnam, Empower Retirement and Great-West Investments are unaffected
The transaction will allow Lifeco to focus on its retirement and asset management
businesses in the U.S.
1. Great-West Life & Annuity Insurance Company will retain a small block of participating life insurance policies which will be administered by Protective Life Corporation.
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