Reuters logo
Great-West Lifeco profit rises 1 pct
November 7, 2013 / 6:20 PM / 4 years ago

Great-West Lifeco profit rises 1 pct

TORONTO, Nov 7 (Reuters) - Great-West Lifeco, Canada’s No. 2 life insurer, said on Thursday its third-quarter profit rose 1 percent as a 27 percent rise in premiums and deposits was offset by acquisition-related costs.

Winnipeg, Manitoba-based Great-West, which is 72-percent owned by Canadian holding company Power Financial Corp, earned a net C$523 million ($500.60 million), or 53 Canadian cents a share, in the quarter ended Sept. 30.

That compared with a year-before profit of C$518 million, or 55 Canadian cents a share.

Excluding acquisitions and restructuring costs related to the company’s purchase of Irish Life earlier this year, Great-West earned 59 Canadian cents per share, in line with analysts’ expectations, according to Thomson Reuters I/B/E/S.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below