Power Financial Corp. is looking to grow its business through acquisitions, particularly outside of the Canadian market where it already has significant share, its chief executive said Thursday.

Power Financial CEO Jeffrey Orr highlighted Putnam Investments, a U.S.-based global asset manager, as one of its businesses that could benefit from additional scale.

But, he added, the company — whose main subsidiaries are insurer Great-West Life and fund manager IGM Financial — has its “eyes wide open” to buying opportunities in all of its businesses and all corners of the globe.

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Orr made his comments during a media briefing following the Montreal-based company’s annual meeting in Toronto Thursday.

During the meeting, Orr noted that the insurance and asset management industries face a number of headwinds, from low interest rates to rapid changes in technology and evolving customer demands, that have hampered profitability.

But Orr said he’s optimistic about the company’s growth prospects.

“We may be entering a post-crisis phase where interest rates start to come up and where the value of active management is more highly rewarded,” Orr said.

“It’s still too early to make that call, but we’ve certainly seen evidence of that over the past 12 months.”

Power Financial is the main subsidiary of holding company Power Corporation of Canada, which also has investments in renewable power and media properties.

Power Financial on Thursday reported net earnings of $484 million, or 68 cents per share, during the first quarter, up from $259 million or 36 cents per share during the same period last year.