Abstract
A.M Best Co. Great carried great West rating to completion West and its subsidiaries were rated. Great West also acquired Canada Life, which greatly enhanced its brand image and also its scope of becoming a prominent market player. The article below reveals the aspects of Great West rating.
Great West Life & Annuity Insurance Company extends health plans, retirement savings services and products, annuities, life insurance policies as well as disability insurance plans.
Situated in Denver, Great West is also a provider of different benefits for the national employees. It's expertise lies in offering solutions in management of “creative health care”.
The services of the company are made available to the people through the various financial organizations, sales people, consultants, brokers, independent firms and discount brokers.
The financial strength ratings were completed by A.M Best Co., a name in its own right.
Great West Ratings:
The rating for the companies Great West Life Assurance Company, Great West Life & Annuity Insurance Co and London Life Insurance Company was done wherein the rating company assigned a rating of A+ from A++. It may be mentioned here that Great West Life Assurance Company is the wholly owned subsidiary of Great West.
A.M Best assigned A+ after rating Canada Life Assurance Company or Canada Life along with the subsidiaries. This however did not include Canada Life International Re Limited or Canada Life International. The ratings for the companies were coined as stable. Great West rating for its company Great West Lifeco or just Lifeco was downgraded as far as rating of debt issues were concerned.
Acquisition of Canada Life Financial Corporation:
The Great West rating took place after Lifeco acquired outstanding shares (common) belonging to Canada Life Financial Corporation worth CAD7.3 billion. The deal comprised common shares, preferred shares and cash. Owing to the acquisition, the company will greatly benefit because it would also get a “multi brand platform” in the process and hence competitive advantage.