Firm set for €1.3bn Irish Life takeover
Kyle, who has worked for Great-West and its subsidiaries for 34 years, will succeed Irish Life CEO Kevin Murphy, who will retire at the end of this month after 42 years with the company, Dublin-based Irish Life said yesterday. Mr Murphy, 61, had postponed his planned retirement at the end of last year.
The Government agreed to sell the nation’s largest life and pensions company to Winnipeg, Manitoba-based Great-West in February to cut its gross €64bn bill for saving its financial system. Finance Minister Michael Noonan’s officials re-opened talks with Great-West last year after abandoning them in November 2011 amid concerns that the euro-area debt crisis would increase the costs.
