Great-West Lifeco has completed the sale of its American healthcare business to Philadelphia-based Cigna Corporation.
The company has received gross consideration of US$1.5 billion in cash and is retaining an estimated $750 million representing the amount of equity invested in the healthcare business at close.
Great-West has been pursuing a strategy to expand its financial services business in the United States.
“Going forward in the U.S.,” explains Great-West Lifeco’s president and CEO, “Lifeco will focus on the financial services business, and in particular, asset accumulation, asset administration and fund management.”
The company acquired >, from Marsh & McLellan last year.
To read Great-West Life Selling U.S. Healthcare Business, click here.
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