* Q1 EPS C$0.44 versus C$0.45 year earlier
* Analysts forecast EPS of C$0.46
TORONTO, May 5 (Reuters) - Great-West Lifeco GWO.TO, Canada’s No. 2 insurer, said on Thursday its quarterly profit slipped on charges related to the recent earthquakes in Japan and New Zealand.
The Winnipeg, Manitoba-based company earned C$415 million ($428 million), or 44 Canadian cents a share, in the first quarter ended March 31. That compared with a profit of C$428 million, or 45 Canadian cents a share, in the year-before period.
Analysts had expected, on average, a profit of 46 Canadian cents a share, according to Thomson Reuters I/B/E/S.
Great-West said provisions relating to the earthquakes in Japan and New Zealand hurt earnings by C$75 million or 8 Canadian cents a share.
Consolidated assets under administration were up C$8.2 billion from Dec. 31 to C$495.2 billion.
The company sells insurance and investment products under the Great-West, Canada Life, London Life and Putnam Investments banners. Holding company Power Financial PWF.TO, which is controlled by Montreal’s Desmarais family, holds a majority stake in the company.
Insurers Manulife Financial MFC.TO and Sun Life Financial SLF.TO both reported earnings this week that were ahead of expectations.
Great-West shares were down 1.26 percent at C$26.68 on the Toronto Stock Exchange at midday, little changed from where they were before the results were released.
$1=$0.97 Canadian Reporting by John McCrank; editing by Rob Wilson