Great-West Lifeco Reports Consistent Results in Q1 2022 Despite Uncertain Macroeconomic Environment
Great-West Lifeco Inc. reported Q1 2022 quarterly base earnings of $809 million, an increase of 12% on a constant exchange rate basis compared with Q1 2021. The improved results were driven by strong growth in the U.S., Europe, and Capital & Risk Solutions segments that was partially offset by a decline in Canadian earnings, which were negatively affected by adverse experience in Group Long-Term Disability and lower new business impact in Individual Insurance.
Great-West Lifeco is a financial services holding company with interests in the life insurance, health insurance, retirement savings, investment management and reinsurance businesses. Co. has operations in Canada, the United States, Europe and Asia through The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company, Great-West Life & Annuity Insurance Company and Putnam Investments, LLC. Co., through its operating subsidiaries, provides protection and savings products that are distributed through multiple sales channels. Products are marketed under the Great-West Life, London Life and Canada Life brands.
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