Great-West Lifeco Swings to 4Q Net Loss on Charge at Putnam Investments

Canada's Great-West Lifeco swung to a fourth-quarter net loss on a big charge at its U.S.-based Putnam Investments unit.

Net loss amounted to C$907 million (US$728 million). Great-West Lifeco said it recorded a C$1.3 billion non-cash impairment charge related to Putnam goodwill and intangible assets. The charge mostly reflected the significant deterioration in financial markets since the company acquired it in August 2007, Great-West Lifeco said...

TradingMarkets: Great-West Lifeco Swings to 4Q Net Loss on Charge at Putnam Investments