Great-West Lifeco Inc. is merging three of its insurance brands, combining Great-West Life Assurance Co. and its two subsidiaries, London Life and Canada Life.

The new company, which will go by Canada Life, will consolidate an aggregate 13 million Canadian customers.

“Today marks the beginning of a new and exciting chapter for our companies in Canada,” said Great-West Life president and chief executive officer, Paul Mahon, in a statement. “Bringing our companies together under one brand will allow us to deliver a simpler and unified experience for our customers, advisors and consultants.”

Read: Great-West Life launches benefits solution for small employers

The goal of the merger is to offer a unified set of products and services, the release noted. The insurers’ holding companies will also be amalgamated into one, called the Canada Life Assurance Co.

Great-West Lifeco subsidiaries Quadrus Investment Services, Freedom 55 Financial, GWL Realty Advisors and GLC Asset Management Group will keep their existing branding and Great-West’s U.S. and European businesses won’t be affected by the merger.

Read: Great-West Life sells U.S. annuity business

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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Donna Borgford:

I guess the merger makes sense but it is a sad day for Winnipeg. Great-West Life is part of Winnipeg’s history and even though the business remains it will never be the same. I sure hope you keep the camels for your Christmas display. They have become part of Christmas in Winnipeg.

Wednesday, April 03 at 6:39 pm | Reply

Jerry King:

As a retired GWL employee I am saddened by the change in name. I can understand the reasoning behind it from a brand point of view but it will always be GWL for me. Will you be getting rid of the hyphen just like Quebec got ride of the apostrophies in all the English signs back in the ‘80’s.?

Wednesday, May 15 at 11:44 pm | Reply

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