![]() ![]() ![]() branches of GWL&A’s affiliates, The Canada Life Assurance Company and The Great-West Life Assurance Company. The reinsurance transaction with Protective includes business written by GWL&A, Great-West Life & Annuity Insurance Company of New York and the U.S. subsidiary of Dai-ichi Life Holdings, Inc. Headquartered in Birmingham, Ala., Protective is a wholly owned U.S. (Great-West Lifeco).The business sold is in the United States and the transaction does not affect the life insurance businesses conducted in Canada or elsewhere by Great-West Lifeco. GWL&A is an indirect, wholly owned subsidiary of Canada-based Great-West Lifeco Inc. GWL&A’s retirement and investment management divisions, Empower Retirement and Great-West Investments, were not affected by this transaction. GWL&A will retain a small block of participating life insurance policies which will be administered by Protective. The business transferred includes bank-owned and corporate-owned life insurance, single premium life insurance, individual annuities and closed block life insurance and annuities. The sale was previously announced on January 24, 2019. Great-West Life & Annuity Insurance Company (GWL&A) is announcing that it has completed the sale through reinsurance of substantially all of its individual life insurance and annuity business to Protective Life Insurance Company, the primary subsidiary of Protective Life Corporation (Protective). ![]()
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