Canada Life U.K. to acquire TDR-backed Retirement Advantage
The U.K. affiliate of Canada Life, a subsidiary of Great-West Lifeco Inc, has agreed to acquire Retirement Advantage Group, a London-based specialist in the British retirement income market. No financial terms were released for the deal, which is expected to close in the fourth quarter. Great-West Lifeco, a Winnipeg financial services holding company, said the acquisition will strengthen Canada Life's position as a leading U.K. insurer. Retirement Advantage was created in 2015 when TDR Capital, a British private equity firm, merged the retirement income and equity release divisions of MGM Advantage Life Ltd and Stonehaven UK Ltd.
24 August 2017•4 mins read
