Great-West Lifeco sees net earnings drop, base earnings rise in first quarter

📆 5/10/2023 9:28 AM
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Great-West Lifeco attributed the decline in net earnings in part to losses in non-fixed income assets and effects from changing interest rates

says net earnings for its first quarter were $595-million, down more than 55 per centfrom $1.3-billion a year earlier.

The Winnipeg-based insurer says base earnings for the quarter ended March 31 were $808-million, up more than 13 per cent from $712-million the same quarter a year ago.The company attributed the decline in net earnings in part to losses in non-fixed income assets and effects from changing interest rates.Great-West Lifeco acquired the retirement business of Prudential Financial Inc. in April 2022.

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Great-West Lifeco sees net earnings drop, base earnings rise in first quarter - BNN BloombergGreat-West Lifeco Inc. says net earnings for its first quarter were $595 million, down more than 55 per cent from $1.3 billion a year earlier.
Source: BNNBloomberg - 🏆 83. / 50 Read more »