NU Online News Service, Nov. 20, 2003, 11:00 a.m. EST – Great-West Retirement Services, a unit of Great-West Life & Annuity Insurance, Denver, announced its acquisition of the group retirement business of Federated Insurance Companies, Montreal.
Federated Insurance customers were given the option of converting their policies to Great-West or moving their business to another provider. Nearly 87% chose to move to Great-West, the company says.
Great-West says it converted 649 plans from Federated’s 401(k) client base.