Great-West Lifeco, IGM Financial and Power Corporation of Canada contribute more than $250,000 to support pandemic relief efforts in India Français
WINNIPEG, MB, May 5, 2021 /CNW/ - Great-West Lifeco, IGM Financial and Power Corporation of Canada announced a more than $250,000 joint contribution to support crisis relief efforts in India for those affected by a devastating COVID-19 outbreak in the South Asian country. This donation includes $50,000 from each Canada Life, IGM Financial and Power Corporation of Canada to the Canadian Red Cross and also includes $100,000 to the Red Cross from Empower Retirement, a U.S. subsidiary of Great-West Lifeco.
India is experiencing nearly 20 million COVID-19 cases and the world's highest daily infection rate. The companies' donations will be directed to the Indian Red Cross Society to provide a range of critical supports during this time.
"From the outset of the pandemic, each of our companies have been committed to helping those in most need," said Jeff Macoun, President and Chief Operating Officer, Canada Life. "The situation in India is dire and requires support from around the globe. That's why with this joint donation to the Canadian Red Cross, our support gets immediately directed to the front lines of pandemic support in India."
"We want to support India through this challenging time and provide assistance to the country's first responders as they manage the crisis," said James O'Sullivan, President and Chief Executive Officer, IGM Financial Inc. "Given that so many among our IGM family and within the communities we serve have ties to India, we're pleased to be including a corporate matching offering as part of this initiative."
The Red Cross' support includes providing residents with COVID-19 prevention information in multiple local languages, distributing hygiene items, and supporting epidemic and infection control activities in communities across the country. Further public health support includes ambulance and transport services for patients, logistics support to quarantine and isolation centres, psychosocial support services, as well as the maintenance of 89 blood transfusion centres.
Great-West Lifeco Inc.
Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. We operate in Canada, the United States and Europe under the brands Canada Life, Empower Retirement, Putnam Investments, and Irish Life. At the end of 2020, our companies had approximately 24,500 employees, 205,000 advisor relationships, and thousands of distribution partners – all serving our more than 30 million customer relationships across these regions.
Great-West Lifeco and its companies have approximately $2.0 trillion in consolidated assets under administration as at December 31, 2020 and are members of the Power Corporation group of companies. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO. To learn more, visit greatwestlifeco.com.
About IGM Financial
IGM Financial Inc. is one of Canada's leading diversified wealth and asset management companies with approximately $248 billion in total assets under management and advisement. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial is a member of the Power Corporation group of companies.
About Power Corporation
Power Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. To learn more, visit www.powercorporation.com.
SOURCE Great-West Lifeco Inc.
For further information: Liz Kulyk, Assistant Vice-President, Media & Public Affairs, The Canada Life Assurance Company, 204-391-8515, [email protected]; Nini Krishnappa, Assistant Vice-President, Corporate Communications, IGM Financial, 647-828-2553, [email protected]
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