February 10, 2011 / 7:46 PM / 7 years ago

UPDATE 1-Great-West Lifeco profit rises on insurance sales

TORONTO, Feb 10 (Reuters) - Great-West Lifeco (GWO.TO), Canada’s No. 2 insurer, said on Thursday its fourth-quarter profit rose 14.7 percent on stronger sales of insurance policies and mutual funds.

    The Winnipeg-based company earned C$508 million ($508 million), or 54 Canadian cents a share, in the quarter ended Dec. 31. That compared with a profit of C$443 million, or 47 Canadian cents a share, in the year-before period.

    Analysts polled by Thomson Reuters I/B/E/S had expected a profit of 51 Canadian cents a share, on average.

    $1=$1.00 Canadian Reporting by Cameron French; editing by Peter Galloway

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