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Healthcare International

Great-West Life Announces Acquisition Of PlanDirect Insurance Services Inc. (PDAssure)

The Great-West Life Assurance Company today announced that it has acquired PlanDirect Insurance Services Inc. (PDAssure), a service provider that markets and administers individual health insurance for Canadians.

The acquisition is effective immediately. PDAssure will retain its name and will operate as a subsidiary of Great-West Life. Financial details of the transaction were not disclosed. "We are very pleased to have reached an agreement with PDAssure to acquire their business," said Stefan Kristjanson, Great-West Life's Executive Vice-President, Group. "Great-West Life and PDAssure have had a successful relationship over the past two decades, supporting the individual health insurance needs of Canadian retirees and families. Now with PDAssure as part of our organization, Great-West Life is strongly positioned to become a leader in this marketplace."

"We were looking to retire from a successful business we had built," said Chief Operating Officer Millar Drummond, who along with his partner, President Rolf Normandin, founded PDAssure in Toronto in 1994. "Our choice of Great-West Life was based on a number of factors, including Great-West Life's commitment to client service, reputation for quality, and leadership in serving the group life and health insurance needs of Canadians."

Drummond and Normandin will continue to be associated with PDAssure for an interim period, to help ensure a smooth transition.

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