Great-West Lifeco Inc. might soon strike a deal for Irish Life Group Ltd., but at least one group of shareholders isn’t glad to hear the business is back up for sale.
The Winnipeg-based insurer first attracted attention when rumours surfaced it was interested in Irish Life back in 2011. Great-West, which already has a presence in the Irish marketplace through its Canada Life subsidiary, seemed like a good fit. But after the deal fell through, the Irish government stepped in to buy the business. Now that the euro zone seems to be stabilizing, the Irish insurance company could be back on the block.