About Power Corporation of Canada
Power Corporation of Canada operates as an international management and holding company that focuses on financial services in North America, Europe, and Asia.
The company’s core holdings are major insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms.
Segments
The company operates through Lifeco, IGM Financial and GBL segments.
Lifeco
Great-West Lifeco Inc. (Lifeco) is a financial services holding company with interests in life insurance, health insurance, retirement and investment management services, asset management and reinsurance businesses primarily in Canada, the United States and Europe.
Lifeco offers retail segregated fund products, unitized with profits products and variable annuity products that provide for certain guarantees that are tied to the fair values of the investment funds. These guarantees are Lifeco’s primary exposure on these funds.
In Canada, Lifeco offers retail segregated fund products through the Canada Life Assurance Company. These products provide guaranteed minimum death benefits and guaranteed minimum accumulation on maturity benefits.
In the U.S., Lifeco offers group variable annuities with guaranteed minimum death benefits and guaranteed minimum withdrawal benefits and group standalone guaranteed minimum death benefits products, which mainly provide return of premium on death.
In Europe, Lifeco offers unitized with profits products in Germany and unit-linked products with investment guarantees in Ireland. These products are similar to segregated fund products but include minimum credited interest rates and pooling of policyholders’ funds.
Lifeco also offers guaranteed minimum withdrawal benefits products in the U.S. and Germany. Certain guaranteed minimum withdrawal benefits products offered by Lifeco offer levels of death and maturity guarantees.
IGM Financial
IGM Financial Inc. (IGM Financial) is a major wealth and asset management company supporting financial advisors and the clients they serve in Canada, and institutional investors through North America, Europe and Asia.
GBL
Groupe Bruxelles Lambert (GBL) is indirectly held through Parjointco SA. GBL is a Belgian holding company. GBL relies on a family shareholder base. Its portfolio includes global industrial and services companies, in which GBL plays its role of professional shareholder.
History
The company was found in 1925. It was incorporated in 1925.