Great-West Lifeco 3rd-quarter profit rises 14 pct

TORONTO Thu Nov 8, 2012 1:40pm EST

TORONTO Nov 8 (Reuters) - Great-West Lifeco, Canada's No. 2 life insurer, said on Thursday its profit rose 14 percent in the third quarter, driven by higher insurance and wealth management revenue.

Winnipeg, Manitoba-based Great-West, which is 72-percent owned by Canadian holding company Power Financial Corp, earned a net C$520 million ($521.07 million), or 55 Canadian cents a share, in the quarter ended Sept. 30.

That compared with a year-before profit of C$457 million, or 48 Canadian cents a share, a year earlier.

Analysts had expected a profit of 51 Canadian cents a share, according to Thomson Reuters I/B/E/S.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article