The Great-West Life Assurance Company has acquired PlanDirect Insurance Services Inc. (PDAssure), which provides health and dental insurance for retired Canadians, for an undisclosed amount.
The acquisition is effective immediately, and PDAssure will retain its name and operate as a subsidiary.
“We are very pleased to have reached an agreement with PDAssure to acquire their business,” says Stefan Kristjanson, executive vice-president of Great-West Life’s group division. “Great-West Life and PDAssure have had a successful relationship over the past two decades, supporting the individual health insurance needs of Canadian retirees and families.”
PDAssure was founded in 1993, and Great-West Life agreed to become the insurer. The first policies were issued in July 1994.
Distribution is primarily through licensed insurance agents, but many employers also direct retiring employees to PDAssure.
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