July 30, 2008 / 4:26 PM / in 9 years

Great-West Lifeco profit jumps on U.S. sale gain

TORONTO, July 30 (Reuters) - Insurance and wealth-management company Great-West Lifeco (GWO.TO) said on Wednesday its second-quarter profit more than doubled due to a large gain connected to the sale of its U.S. healthcare business.

Net income in the April-June quarter was C$1.21 billion ($1.19 billion), or C$1.36 a share, the company said. That was up from C$544 million, or 61 Canadian cents, in the same 2007 period.

Excluding the C$649 million gain on the U.S. healthcare business, adjusted net income was C$564 million in the quarter, or 63 Canadian cents a share, up 4 percent from a year earlier, the company said.

$1=$1.02 Canadian Reporting by Lynne Olver; Editing by Peter Galloway

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