Great-West Lifeco statement on a decision released by the Court of Appeal for Ontario

 Great-West Lifeco statement on a decision released by the Court of Appeal for  Ontario  TSX:GWO  WINNIPEG, Feb. 3, 2014 /CNW/ - The Court of Appeal for Ontario has released a  decision in regard to the involvement of the participating accounts of  Great-West Lifeco subsidiaries London Life Insurance Company and The  Great-West Life Assurance Company in the financing of the acquisition of  London Insurance Group in 1997.  This decision overturned the Ontario Superior Court's January 24, 2013  decision regarding the amounts to be reallocated to the participating account  surplus. The Court of Appeal reduced the previously ordered amount of $284.6  million to $51.6 million ($27.0 million in respect of London Life and $24.6  million in respect of Great-West Life). The financial impact of this decision  will be reported in the Companies fourth quarter financial results as a  Subsequent Event.  The Court of Appeal confirmed in an earlier decision in this matter that  participating policyholders were treated fairly by the Company in the  acquisition of London Life in 1997 and that there was no impact on their  dividends. That earlier decision also provided that any monies to be  reallocated to the participating accounts will be dealt with in accordance  with the companies' participating policyholder dividend policies in the  ordinary course of business. There will not be any impact on the capital  position of the Companies or on participating policy contract terms and  conditions.  Great-West Lifeco Inc. (TSX:GWO) is an international financial services  holding company with interests in life insurance, health insurance, retirement  and investment services, asset management and reinsurance businesses.  Great-West Lifeco has operations in Canada, the United States, Europe and Asia  through Great-West Life, London Life, Canada Life, Irish Life, Great-West  Financial and Putnam Investments. Great-West Lifeco and its companies have  over $705 billion in assets under administration, and are members of the Power  Financial Corporation group of companies.  Assets as of September 30, 2013    SOURCE  Great-West Lifeco Inc.  Marlene Klassen, APR Assistant Vice-President, Communication Services  204-946-7705  To view this news release in HTML formatting, please use the following URL:  CO: London Life Insurance Company ST: Manitoba NI: INS LAW VERDICTS LAWVIEWS