Great-West Lifeco’s European subsidiary, Canada Life Group, has completed its previously announced acquisition of Legal & General International (Ireland) Limited (LGII).
Terms of the transaction were not disclosed.
Launched in 2007, LGII was a subsidiary of Legal & General Group Plc and is based in Dublin, Ireland.
Read: Canada Life to buy LGII
LGII provides investment and wealth management solutions, primarily focused on the U.K. high net worth market, and has more than 4,300 UK investment bond policies with assets under administration of £2.7 billion ($5.3 billion) as at March 31.
“This transaction enhances Canada Life’s position in the U.K., and gives clients and professional advisers further confidence in our U.K. business,” says Paul Mahon, president and CEO of Great-West Lifeco.
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