Operates as a holding company
Power Financial Corp. is a diversified management and holding company that has interests, directly or indirectly, in companies that are active in the financial services sector in Canada, the United States and Europe. It operates as a holding company of Great-West Lifeco, Inc., IGM Financial, Inc. and Parjointco NV. Great-West Lifeco offers a wide range of life insurance, retirement and investment products, as well as reinsurance and specialty general insurance products to individuals, businesses and other private and public organizations in Canada, the United States and Europe. IGM Financial offers a comprehensive package of financial planning services and investment products to its client base. IGM derives its revenues from a range of sources, primarily from management fees, which are charged to its mutual funds for investment advisory and management services. Parjointco NV operates as a holding company, which holds diversified interests in companies based in Europe and which are active in various sectors, including specialty minerals, water, waste services, energy, and wines and spirits. The company was founded on April 5, 1940 and is headquartered in Montréal, Canada.