Great-West Lifeco Inc. and Affiliates: Rating Report

On November 13, 2019, DBRS Limited (DBRS Morningstar) confirmed the ratings on GWO and its affiliates. In confirming the ratings, DBRS Morningstar considered GWO’s exceptional global franchise, which is supported by strong market shares in its chosen markets, as well as excellent risk management infrastructure. The Company’s extensive insurance and wealth management operations in Canada, Europe, and the United States, as well as its global reinsurance, offer a high degree of product and geographic diversification. GWO has a long history of generating ROE values, although somewhat declining in 2019. This sustained ROE level is a positive for the ratings.