News: Great-West Lifeco Inc (GWO.TO)
24 May 2013
Thu, May 2 2013
TORONTO, May 2 - Canada's top life insurer, Manulife Financial Corp, reported a 56 percent drop in profit in the first quarter, while earnings at rival Great-West Lifeco Inc rose 15 percent as both companies met expectations in a tough market.
Underlying govt bond Over Mid-swaps, equivalent to 122.8bp
DUBLIN - Canadian life insurer Great-West Lifeco bought state-rescued insurer Irish Life for 1.3 billion euros ($1.7 billion) on Tuesday in a deal that increases its presence in Ireland and lightens the Irish government's debts.
* Irish finance minister to explore further potential sales
Feb 19 - Fitch Ratings has affirmed the ratings of Great-West Lifeco (TSE:GWO) including the holding company's Issuer Default Rating (IDR) at 'A+' and all outstanding senior debt and hybrid issues, as well as the Insurer Financial Strength (IFS) ratings of all operating subsidiaries at 'AA'. The Rating Outlook is Stable. Today's action follows the announcement that GWO will be acquiring Irish Life Group Limited (Irish Life) for EUR1.3 billion. The transaction is expected to close in the third
DUBLIN, Feb 19 - Ireland's sale of Irish Life to Canadian life insurer Great-West Lifeco will help push the government's debt below 120 percent of GDP this year, the country's finance ministry said on Tuesday.
Feb 19 - Canadian life insurer Great-West Lifeco Inc said on Tuesday it would buy Irish Life Group Ltd for C$1.75 billion ($1.73 billion).
Feb 7 - Great-West Lifeco Inc, Canada's second-largest life insurer, said on Thursday its fourth-quarter profit fell by 43 percent as the company took a C$140 million litigation reserve.
Jan 9 - Fitch Ratings has affirmed the ratings of Great-West Lifeco (TSE:GWO) including the holding company's Issuer Default Rating (IDR) at 'A+' and all outstanding senior debt and hybrid issues, as well as the Insurer Financial Strength (IFS) ratings of all operating subsidiaries at 'AA'. The Rating Outlook is Stable. The ratings rationale is based upon the company's consistently strong and stable core insurance earnings; strong competitive position in the Canadian market; conservative inv
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