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Great-West Lifeco subsidiary closes managing general agency acquisition

Great-West Lifeco Inc. subsidiary Great-West Life Assurance Co. completed its acquisition of managing general agency Financial Horizons Group.

Terms of the transaction were not disclosed. The transaction is expected to be accretive to earnings but is not material to overall Canadian earnings.

Financial Horizons Group will continue to operate with its own governance processes and board. There will be no changes to the existing management team, with current President and CEO John Hamilton remaining at the helm.