Great-West Lifeco Reports Solid Q3 2020 Results Driven by Growth in Its Reinsurance Business
Great-West Lifeco Inc. (Great-West or the Company) reported another solid quarter, with net income increasing 13% from Q3 2019. However, excluding the $94 million post-tax gain from the sale of Irish Progressive Services International Limited, net income would have been relatively stable.
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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