Great-West Lifeco will continue to work with UK customers through Brexit

The company, which has a long-established presence in the UK and Europe as a whole, said it will remain committed to the UK market

Great-West Lifeco will continue to serve its UK customers following Britons’ June 23 decision to exit the European Union, the company has said.

“We will continue to work closely with out UK-based customers, business partners and regulators over the next few years as the UK and the EU enter a period of negotiation and agree on their new relationship,” said Paul Mahon, president and CEO of Great-West Lifeco. “Our companies in Europe have strong, stable businesses and a diversified investment portfolio. They are appropriately capitalized. We remain committed to these markets.

“We have undertaken an in-depth analysis of potential risks to our businesses, and notwithstanding the potential for increased market volatility and uncertainty that may arise, our businesses are resilient and we maintain significant financial flexibility,” Mahon added.

Great-West Lifeco has a long-established presence in the UK through Canada Life. It has a longstanding presence in Europe through Irish Life in Ireland and Canada Life in Germany, as well as its reinsurance businesses.