Great-West Lifeco seeks to sell $2 bln worth of contracts: Reuters
Great-West Lifeco Inc, Canada’s second-biggest insurance company, is exploring the sale of a collection of insurance contacts that could fetch as much as US$2 billion, sources told Reuters. Goldman Sachs Group Inc is arranging the sale process. Among the parties to have shown interest in the policies include other insurance firms and financial companies. Private equity and specialist investment firms have been significant buyers of run-off insurance blocks, believing they can juice the profits from administering such policies by cutting costs.
5 September 2018•2 mins read
