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Great-West Lifeco world headquarters is pictured in Winnipeg on Feb. 19, 2013. Great-West Lifeco Inc. will acquire Irish Life Group for $1.75 billion through an agreement with the Government of Ireland, which acquired the company last summer.
Great-West Lifeco world headquarters is pictured in Winnipeg on Feb. 19, 2013. Great-West Lifeco Inc. will acquire Irish Life Group for $1.75 billion through an agreement with the Government of Ireland, which acquired the company last summer.
(JOHN WOODS/THE CANADIAN PRESS)

Big Irish deal won’t stop Great-West from bolstering U.S. business

Great-West Lifeco Inc. won’t let efforts to mesh its recent $1.75-billion acquisition of Irish Life Group with its existing Irish business stand in the way of future mergers.

The insurer, which reported a 7-per-cent rise in second quarter profits after market close Wednesday, said that having a strong management team in Europe would allow it to look for new ways to expand and improve profitability, while integrating the new business.