- Business
- Power Financial Corporation is an international management and holding company headquartered in Montreal, Quebec, Canada, founded in 1984. It holds controlling interests primarily in the financial services sector through its subsidiaries Great-West Lifeco and IGM Financial, operating across Canada, the United States, and Europe. Its main products and services include life insurance, health insurance, disability insurance, critical illness insurance, accidental death and dismemberment insurance, dental coverage, creditor insurance, retirement and investment services, asset management, reinsurance, and international banking and investments. The company also maintains significant equity holdings in European-based firms through its investment in Pargesa, supporting a diversified portfolio focused on financial services and asset management. In recent developments, Power Financial has strengthened its asset management capabilities through partnerships such as Sagard’s partnership with Groupe Bruxelles Lambert (GBL), a key limited partner, committing $250 million over five years to support Sagard's long-term growth strategy. Additionally, it has reported strong financial results in 2024, including a 9% dividend increase, reflecting robust operational performance and strategic capital management, including share repurchases. This strategic focus illustrates Power Financial’s commitment to growth and value creation through both organic expansion and strategic alliances within its core markets in North America and Europe.