GREAT-WEST LIFE:

Great-West Lifeco statement on a decision released November 3 by the Court of Appeal for Ontario

WINNIPEG, Nov. 4, 2011 /CNW/ - The Court of Appeal for Ontario has released a decision in regard to the involvement of the participating accounts of Great-West Lifeco subsidiaries London Life Insurance Company and The Great-West Life Assurance Company in the financing of the acquisition of London Insurance Group in 1997.

The Court of Appeal upheld that participating policyholders were treated fairly and that there was no impact on their dividends. The Court of Appeal also confirmed that it was reasonable for the participating accounts to contribute to the acquisition in order to receive benefits.

The Court of Appeal made adjustments to the original trial judgment. The impact is expected to be favourable to the Company's overall financial position. Any monies to be returned to the participating accounts will be dealt with in accordance with the companies' participating policyholder dividend policies in the ordinary course of business. No awards are to be paid out to individual class members.

The decision will have no impact on participating policy contract terms and conditions.

Great-West Lifeco Inc. (TSX:GWO) is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Great-West Lifeco has operations in Canada, the United States, Europe and Asia through The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company, Great-West Life & Annuity Insurance Company and Putnam Investments, LLC. Great-West Lifeco and its companies have over $497 billion in assets under administration, and are members of the Power Financial Corporation group of companies.

Assets as of June 30, 2011

SOURCE Great-West Life Assurance Company

For further information:

Marlene Klassen, APR
Assistant Vice-President, Communication Services
204-946-7705

Profil de l'entreprise

Great-West Life Assurance Company

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.