Great-West Lifeco to buy Genstar-owned Financial Horizons Group
Great-West Lifeco Inc (TSX: GWO) has agreed to acquire Financial Horizons Group, a Kitchener, Ontario-based managing general agency (MGA) that distributes life insurance and other products and services in Canada. No financial terms were released. Great-West, an insurance holding company affiliated with Canada's Power Financial Corp, said it will support Financial Horizons' consolidation strategy, which has resulted in the buy of 30 MGA businesses during the ownership of Genstar Capital, a U.S. private equity firm. Genstar, which holds a 72 percent stake in the company, invested in 2010. Financial Horizons will continue to be led by President and CEO John Hamilton.
19 May 2017•4 mins read
