Empower Acquires Milliman Business

Empower Closes Acquisition of Milliman's Retirement Administration Business, Expanding Services

Great-West Lifeco Inc. (TSX: GWO) subsidiary Empower has closed its acquisition of Milliman's retirement plan and benefits administration business, expanding Empower's workplace solutions capabilities across defined benefit, defined contribution, and health and welfare benefits administration. The acquisition expands Empower’s capabilities in the defined benefit marketplace and advances the company’�s strategy of delivering integrated workplace benefits solutions. Approximately 800 employees are joining Empower as part of the transaction. The transaction brings Empower to over 22 million lives served, over $2.3 trillion in client assets and 96,000 workplace plans.