May 3, 2012 / 3:23 PM / in 5 years

Great-West Life profit rises, but premiums fall

TORONTO, May 3 (Reuters) - Great-West Lifeco, Canada’s No. 2 insurer, said its profit rose 9 percent in the first quarter despite a decline premiums and deposits.

Winnipeg, Manitoba-based Great-west, which is 72 percent-owned by Canadian holding company Power Financial Corp , earned C$451 million ($457.10 million), or 47.5 Canadian cents a share, in the first quarter ended March 31

That compared with a year-before profit of C$415 million, or 43.8 Canadian cents a share, when the company took a C$75 million hit to establish catastrophe provisions for the earthquakes in Japan and New Zealand.

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