By Adriano Marchese


Great-West Lifeco Inc. said Wednesday that it plans to buy back up to 2.15% of its issued and outstanding common shares over the course of a one-year period.

The Canadian insurer said the Toronto Stock Exchange approved the renewal of its normal course issuer bid to repurchase up to 20 million common shares beginning on Jan. 27.

The Canadian insurance and financial service company's stock has risen around 9.6% since the beginning of the year. The stock is currently 11% lower than it was a year ago.

At its closing price on Tuesday of 34.31 Canadian dollars, the equivalent of US$25.66, the repurchased shares would be worth about C$686.2 million in total.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

01-25-23 0832ET