Great-West Lifeco Inc. says it holds about $448 million in investments in bankrupt Lehman Brothers Holdings Inc, and troubled insurance giant American International Group Inc. and its affiliates.

The company today announced it holds $101 million in bonds of Lehman.

In addition, it holds about $347 million in investment exposure to AIG, including:

> $149 million in AIG fixed income securities;

> $66 million in Sun America Life Insurance Co. fixed income securities;

> $16 million in American General Corp. fixed income securities;

> $19 million in fixed income securities of American General Finance;

> $15 million in fixed income securities of International Lease Finance Co.; and

> $82 million in AIG Financial Products Corp. financial derivatives.

Great-West said the investment exposure represents three-tenths of 1% of the company’s assets, which were more than $131 billion at the end of June.

The Winnipeg-based insurer said it expects to book a charge in its third quarter financial report because of a decline in the value of these investments.