Great-West Earnings: Strategic Transactions Bode Well for the Company in the Long Run

No-moat-rated Great-West Life announced three strategic transactions in the second quarter to rebalance and focus its business portfolio. The company announced the sale of Putnam Investments, which has been more unprofitable than it has been profitable over the past five years. The deal will unlock shareholder value and further focus U.S. operations on more lucrative retirement and personal wealth markets. The company announced the acquisitions of Investment Planning Counsel and Value Partners, which will enable the Canadian business of the company to offer an end-to-end wealth and insurance platform for independent advisors. Finally, the company also announced an agreement to sell the individual onshore protection business of Canada Life U.K. to Countrywide Assured.