Company
Power Corporation of Canada
Headquarters: Montréal, QC, Canada
Founded: 1925
Employees: 30,000
CEO: Mr. Robert Jeffrey Orr
Market Cap
C$24.82 Billion
CAD as of Jan. 1, 2024
US$18.74 Billion
Power Corporation of Canada Categories
Canada Financials Insurance—LifeCanada Financials Canada Insurance—Life
Company Description
Power Corporation of Canada is a management and holding company primarily involved in financial services in America, Europe, and Asia. Founded in 1925, it has interests in insurance, retirement, wealth management, and investment management, through its Lifeco, IGM Financial, and Pargesa subsidiaries. Power Corporation of Canada is also engaged in renewable energy, electrical components, construction materials, food and beverages, chemicals, and many more industries.
Top Competitors by Market Capitalization
Industry: Insurance—Life
| Company | Market Cap (USD) |
|---|---|
| AIA Group | $94.91 B |
| Ping An Insurance | $92.95 B |
| China Life | $92.27 B |
| MetLife, Inc. | $49.96 B |
| Aflac Incorporated | $48.09 B |
Sector:
| Company | Market Cap (USD) |
|---|---|
| Berkshire Hathaway | $797.77 B |
| Visa | $530.20 B |
| JPMorgan | $495.55 B |
| Mastercard | $392.71 B |
| Bank of America | $267.48 B |
Detailed Description
Power Corporation of Canada operates as an international management and holding company in North America, Europe, and Asia. It operates through three segments: Lifeco, IGM Financial, and GBL. The company offers life, disability, critical illness, accidental death, dismemberment, dental protection, creditor, and health insurance; retirement and investment management; asset management; and reinsurance and retrocession; investment advisory, financial planning, and related services; and fund, protection, and wealth management services. It also provides employer-sponsored defined contribution plan, individual retirement account and drawdown, enrollment, communication material, investment option, and education services; private label recordkeeping and administrative services; payout annuities, equity release mortgages, life bonds, mortgage, securities, pension, private equity, debt and thematic fund, and financial services; and investment products, such as equity, fixed income, absolute return and alternative strategies, hedge fund, and model-based separately managed accounts and portfolios. In addition, the company holds interests in various businesses, such as mineral-based specialty solutions; testing, inspection, and certification; cement, aggregates, and concrete; wines and spirits; sportswear and sports equipment design and distribution; materials technology and recycling of precious metals; disposable hygiene products; Atlantic salmon; customer experience and business process outsourcing; and regional leisure parks. Further, it generates renewable energy through solar and wind facilities; designs, develops, and manufactures specification-grade LED solutions and zero-emission vehicles; operates a digital investing platform; and offers sales and technical training, eLearning solutions, management consulting, and engineering services. The company was incorporated in 1925 and is headquartered in Montréal, Canada.
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Stocks & Indices
Power Corporation of Canada has the following listings and related stock indices.
Stock: TSX: POW wb_incandescent
Stock: FSX: PCR wb_incandescent
Stock: OTC: PWCDF wb_incandescent
Product & Services
Financial services, insurance and wealth management
Key People
Founder(s): Arthur J. Nesbitt Peter A. T. Thomson
Paul Desmarais Jr. (Chairman) André Desmarais (Deputy Chair) R. Jeffrey Orr (President & CEO)
Financials
Revenue: C$64.61 billion (2020)
Net income: C$1.99 billion (2020)
Total assets: C$629.10 billion (2020)