Great-West Lifeco

An international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses operating primarily in Canada, the United States and Europe.
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$40.9
Billion
Market
capitalization
68.1%
Ownership[1]

Financials at a glance

$3.67
Billion
Base earnings[2][3]
$2.74
Billion
Net earnings[2]
33,500+
Employees[6]
16.6%
Base return on equity[2][3][4]
12.4%
Return on equity[2][4]
42
Million+
Customer relationships[6]
$2.85
Trillion
Total assets under
administration[3][5]
$713
Billion
Consolidated assets
232,000+
Advisor relationships[6]
See footnotes, including notes on non-ifrs financial measures
  1. Percentage of participating equity securities beneficially owned, or over which control or direction is exercised, directly or indirectly by Power Corporation, as at December 31, 2023. The Corporation held a 68.1% interest in Great-West Lifeco, and an additional 2.4% interest through IGM.
  2. Attributable to common shareholders.
  3. Base earnings, base return on equity and assets under administration are identified as non-GAAP financial measures or ratios by Great-West Lifeco. Additional information regarding these measures and ratios, including reconciliations, is incorporated by reference from and can be found under “Non-GAAP Financial Measures and Ratios” in Great-West Lifeco’s annual MD&A for the year ended December 31, 2023, included in the Corporation’s annual MD&A for the year ended December 31, 2023, available on SEDAR+ at www.sedarplus.ca.
  4. The description of return on equity is incorporated by reference from and can be found under “Glossary” in Great-West Lifeco’s annual MD&A for the year ended December 31, 2023, included in the Corporation’s annual MD&A for the year ended December 31, 2023, available on SEDAR+ at www.sedarplus.ca.
  5. Other assets under management included $161.6 billion related to the discontinued operations of Putnam Investments.
  6. Figures are as at December 31, 2023 and include Putnam Investments, which was sold on January 1, 2024.
Great-West Lifeco

2023 value creation highlights

1

Repositioning U.S. business to focus on Empower’s leading retirement and wealth businesses through the successful integration of recent transactions and the sale of Putnam

2

Acquisitions of IPC and Value Partners, advancing Great-West Lifeco’s goal of establishing a leading platform for independent advisors in Canada

3

Continued repositioning of its portfolio of businesses through strategic actions and disciplined execution to grow its franchise and create value over the long term

Great-West Lifeco

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