Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

JP To Acquire Canada Life U.S. Group Business

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Jan. 14, 2004, 1:41 p.m. EST – Jefferson-Pilot Corp., Greensboro, N.C., says it has agreed to spend about $200 million to acquire the Atlanta-based U.S. group life, disability and dental business of The Canada Life Assurance Company from Great-West Lifeco Inc., Winnipeg, through a reinsurance arrangement.[@@]

Jefferson-Pilot hopes to complete the deal by March 31.

Jefferson-Pilot plans to fold the Canada Life group insurance business into its own Omaha, Neb.-based Benefit Partners unit. The combined company should rank seventh U.S. group life sales and fifth in U.S. short-term disability insurance sales, Jefferson-Pilot says.

Robert Bates, president of Jefferson Pilot Benefit Partners, will be responsible for combining the Canada Life operations with the Benefit Partners operations.

Great-West Lifeco President William McCallum says his company is selling the U.S. group insurance unit so that it can invest more capital in its health care and retirement services businesses.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.