August 3, 2011 / 9:54 PM / 6 years ago

UPDATE 1-Great-West Lifeco profit rises 15.6 pct

TORONTO, Aug 3 (Reuters) - Great-West Lifeco (GWO.TO) said on Wednesday its second-quarter profit rose 15.6 percent, helped by strong investment returns and insurance sales in its core Canadian business.

The Winnipeg-based company earned C$526 million ($548 million), or 55 Canadian cents a share, in the quarter ended June 30. That compared with a profit of C$455 million, or 48 Canadian cents a share, in the year-before period.

Analysts had expected, on average, a profit of 49 Canadian cents a share, according to Thomson Reuters I/B/E/S.

$1=$0.96 Canadian Reporting by Cameron French; editing by Rob Wilson

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