Great-West Lifeco sees base earnings rise in third quarter to $950 million

WINNIPEG – Great-West Lifeco Inc. says its base earnings for the third quarter were $950 million, up from $809 million a year earlier.

The company attributed the increase primarily to business growth, as well as higher average equity markets and interest rates.

Great-West Lifeco says its net earnings attributable to common shareholders were $905 million in the third quarter, down from $987 million during the same quarter last year.

Net earnings per diluted share were 97 cents, down from $1.06 a year earlier.

The company says base earnings from its Canadian segment were $296 million, down from $340 million a year earlier.

Meanwhile, base earnings in the U.S. increased slightly to $262 million, while earnings rose in Europe to $206 million.

This report by The Canadian Press was first published Nov. 8, 2023.

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