Latest news with #GreatWestLifeco
Globe and Mail
10 hours ago
- Business
- Globe and Mail
Canadian Life Companies Split Corp. Completes Overnight Offering
TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- Canadian Life Companies Split Corp. ('the Company') is pleased to announce it has completed the overnight offering of Preferred Shares and Class A Shares of the Company. Total gross proceeds of the offering were $40.0 million, bringing the Company's net assets to approximately $217.9 million. The shares will begin trading on the Toronto Stock Exchange under the existing symbols of (Preferred Shares) and LFE (Class A Shares). The Preferred Shares were offered at a price of $10.55 per Preferred Share to yield 6.64% and the Class A Shares were offered at a price of $6.35 per Class A Share to yield 18.90%. The offering was led by National Bank Financial Inc. The net proceeds of the offering will be used by the Company to invest in an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies as follows: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus supplement to the Company's short form base shelf prospectus dated May 1, 2024 before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Please read the Company's publicly filed documents which are available at
Yahoo
26-05-2025
- Business
- Yahoo
Lindsey Rix-Broom to lead Great-West Lifeco's European operations
Great-West Lifeco has named Lindsey Rix-Broom as the CEO of Europe, effective 1 July 2025. Currently serving as CEO of Canada Life UK, Rix-Broom will transition to her new role following the appointment of David Harney as president and CEO of Great-West Lifeco and Canada Life on the same date. Rix-Broom will become part of the Lifeco executive management committee and report directly to the company's president and CEO. Until a successor is appointed, she will also retain leadership of Canada Life UK. With 25 years of leadership experience, she has been credited with 'delivering on strategic priorities to simplify, modernise, and grow the business'. Great-West Lifeco said that Rix-Broom has driven 'substantial growth' in critical business segments, 'capitalised on a significant market opportunity' in the UK bulk purchase annuity market, 'unlocked significant value' from the company's financial assets, and spearheaded 'major' modernisation initiatives in operational and technological advancements. Harney said: 'Lindsey's skill, leadership, commercial acumen, and customer focus have created strong momentum in our UK business, and I know she will bring the same disciplined approach to this role leading our European business segment.' Rix-Broom added: 'I am excited about the opportunity to work alongside our leaders across Europe to expand our presence and impact for customers in the UK, Ireland, and Germany. 'We have focused strategies, strong teams, and a culture of excellence when it comes to delivering for our customers. I look forward to continuing to build upon Lifeco's momentum established under David Harney.' The announcement of the leadership reshuffle comes shortly after Great-West Lifeco's Q1 2025 results release. The firm reported base earnings of C$1.03bn, or $1.11 per common share, in the quarter, marking a 5% increase from C$978m the previous year. In Europe, base earnings rose by C$13m, or 6% year-on-year. "Lindsey Rix-Broom to lead Great-West Lifeco's European operations " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
08-05-2025
- Business
- National Post
Empower Reports Base Earnings of $255M in First Quarter, up 13% Year Over Year
Article content Article content GREENWOOD VILLAGE, Colo. — Empower announced today it has achieved base earnings of $255 million for the first quarter of 2025, up 13% from the same period in 2024. Article content The retirement services and wealth management provider added approximately $42 billion in assets under administration to its Workplace Solutions unit over the past 12 months ending March 31, 2025, which includes 700,000 new participants and 12,000 new plans. Article content In addition, Empower Personal Wealth TM, the firm's wealth management unit, which recognized its second anniversary this quarter, has seen net flows up 115% to $2.8 billion from this time last year, driven by retention and strong sales growth of 30% from the prior year. Article content Empower released results as part of a broader quarterly announcement by its parent company, Winnipeg-based Great-West Lifeco (TSX: GWO-CA). For more information on Great-West Lifeco's first-quarter 2025 results, please see the release on firm's website. Article content 'Empower is presenting itself to a range of investors and employers who are coming to us in a greater degree because of our expanding capabilities, insights, and offerings,' said Empower President and CEO Edmund F. Murphy III. 'We are making investments in our customers' needs like never before and they are, in turn, choosing to invest with us.' Article content The company serves more than 19 million individuals and administers more than $1.8 trillion in assets 2. Article content In Empower's Workplace Solutions unit, the second-largest retirement services provider in the U.S. by plan participants 1, request-for-proposal activity in the last year has been higher than any previous year across plan types, including 401(k), 457(b), and 403(b) defined contribution plans of all sizes covering corporate, government, and not-for-profit employers. The $42 billion in AUA represents funded organic sales over the last year. Article content As of March 31, 2025, Empower has provided retirement services to approximately 89,000 retirement plans over the past year. Article content Empower serves all segments of the employer-sponsored retirement plan market: government 457 plans; small, midsize, and large corporate 401(k) clients; nonprofit 403(b) entities; Taft-Hartley plans; and private-label recordkeeping clients. Empower has approximately $56 billion in funded and committed sales for 2025, which will exceed prior full-year sales by 13%, including nine new clients with more than $1 billion in AUA. Article content The firm currently serves 29 state government plans and supports the retirement needs of more than 4 million public employees exceeding more than $252 billion in assets,* and has seen average balances of government employees increase by 7% from this time last year. Empower is the leading provider of retirement services to states and continues to gain new government clients. Article content Within the last year, Empower has welcomed new government clients such as the State of Maryland and the City of Anaheim, CA, and Nassau County, NY, an existing 15-year client, renewed in 2025, as did the State of New Hampshire and Contra Costa County, CA. Article content Earlier in the first quarter, the firm launched new capabilities for employers sponsoring retirement plans, announcing a new consumer-directed healthcare (CDH) offering to help individuals manage their healthcare finances in conjunction with their full financial picture. Article content Empower Consumer-Directed Health will offer employers and individuals an array of offerings to help them make use of products and services that allow for optimization of their health and wealth benefits. Empower is now offering benefits such as health savings accounts (HSAs), flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), voluntary employees' beneficiary association plans (VEBAs), wellness incentives, lifestyle benefits, and more. Article content In September 2024, Empower announced the acquisition of Plan Management Corporation (PMC), the creator of OptionTrax, a leading digital equity plan administration platform and service provider, which paved the way for the establishment of Empower Stock Plan Services. Article content ABOUT EMPOWER Article content * As of March 31, 2025. Article content 1 Pensions & Investments DC Recordkeeper Survey (2024). Ranking measured by total number of participants as of December 31, 2023. Article content 2 As of or for the year ended March 31, 2025. Information refers to all retirement business of Empower Annuity Insurance Company of America (EAICA) and its subsidiaries, including Empower Retirement, LLC; Empower Life & Annuity Insurance Company of New York (ELAINY); and Empower Annuity Insurance Company (EAIC), marketed under the Empower brand. Assets under Administration (AUA) refers to the assets administered by Empower. AUA does not reflect the financial stability or strength of a company. Article content Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. 'EMPOWER' and all associated logos and product names are trademarks of Empower Annuity Insurance Company of America. Article content Article content Article content Article content Article content Article content
