Great-West Lifeco reports $960 million net earnings in first quarter of 2024

WINNIPEG — Great-West Lifeco Inc. says it earned $960 million in the first quarter, up from $595 million a year earlier.

The Winnipeg-based company says it exceeded $1 billion in quarterly base earnings for the first time, building on strong momentum from 2023.

Net earnings per common share were $1.03, up from 64 cents during the same quarter last year.

The company says base earnings from its Canadian segment were $302 million, up from $278 million last year.

Meanwhile, base earnings in the U.S. rose to $286 million from $218 million.

Base earnings in the Europe segment were $204 million, up from $178 million.

This report by The Canadian Press was first published May 1, 2024.

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The Canadian Press