Great West subsidiary Empower to acquire the retirement plan and benefits administration business of Milliman, Inc.

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• Transaction expected to generate a fully synergized IRR in the mid-teens and be accretive to base earnings in Year 1, supported by recurring fee-based revenues, cost efficiencies, and an enhanced go-to-market strategy.

  60% confidence

• The transaction significantly strengthens Empower's ability to compete and win across the full spectrum of retirement solutions by bringing a leading defined benefit platform in-house; the acquired business' strong reputation, high-quality client base, and scalable platform align closely with Empower's long-term strategy.

  60% confidence

• The acquisition reflects Great-West's disciplined approach to capital deployment and focus on strengthening high-quality, capital-efficient growth platforms, aligning with a strategy of pursuing opportunities that add scale, expand and deepen capabilities, and generate attractive long-term returns.

  60% confidence

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