Great-West Lifeco: Q4 Earnings Soar to $740M

16 Feb, 2024

Great-West Lifeco: Q4 Earnings Soar to $740M

Great-West Lifeco Inc. reported a significant surge in fourth-quarter net earnings, reaching $740 million, compared to $452 million in the corresponding quarter of the previous year. The company attributed this increase to robust base earnings in Canada, although it acknowledged some mitigating factors such as individual insurance mortalities and the absence of favorable 2022 tax impacts in 2023. Noteworthy developments include a recent leadership transition, with Jon Nielsen assuming the role of chief financial officer and Fabrice Morin appointed as president and chief operating officer, Canada.

Additionally, Great-West Lifeco Inc. announced a dividend hike of seven percent, equating to 55.5 cents per share. This upward adjustment underscores the company's confidence in its financial performance and its commitment to delivering value to shareholders.

This update from Great-West Lifeco Inc. reflects its ongoing efforts to navigate dynamic market conditions while maintaining a focus on sustainable growth and shareholder returns.

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