Great-West Lifeco sees a dramatic increase in first-quarter earnings, surpassing $1bn in base earnings
Great-West Lifeco Inc. has reported a significant increase in earnings for the first quarter, reaching $960m, up from $595m in the same period last year.
The Winnipeg-based company also announced that it surpassed $1bn in quarterly base earnings for the first time, continuing the strong momentum from 2023.
The company's net earnings per common share increased to $1.03, rising from 64 cents during the same quarter of the previous year.
In a breakdown of earnings by region, Great-West Lifeco's Canadian segment reported base earnings of $302m, showing an increase from $278m the previous year.
In the US, base earnings rose to $286m, up from $218m. The Europe segment also saw growth, with base earnings increasing to $204m from $178m.
