Great-West Lifeco Inc. (Lifeco or the Company) has reported net earnings attributable to common shareholders (net earnings) of $674 million or $0.682 per common share for the three months ended September 30, 2016 compared to $720 million or $0.724 per common share for the same period in 2015.
Highlights – In Quarter
- Lifeco premiums and deposits in the third quarter of 2016 of $29.3 billion were comparable to the same quarter in 2015.
- Lifeco’s capital position remained very strong. The Great-West Life Assurance Company reported a Minimum Continuing Capital Surplus Requirements (MCCSR) ratio of 227% at September 30, 2016.
- Lifeco reported a ROE of 13.8%.
- Lifeco declared a quarterly common dividend of $0.3460 per common share payable December 30, 2016.
- Lifeco completed its previously announced Irish health insurance acquisitions and will operate its new business under the Irish Life Health brand. The Company has set annual cost savings targets of €16 million pre-tax to be achieved through operating efficiencies from the combination of the businesses. Integration activities, with an expected cost of €16 million pre-tax, are anticipated to be completed in the next 18 to 24 months.