Great-West Lifeco Inc
F:GWS
Great-West Lifeco Inc
Great-West Lifeco Inc. stands as a formidable force in the financial services sector, weaving its influence largely across North America, Europe, and Asia. As part of the mighty Power Corporation of Canada, it operates through a network of subsidiaries that include well-known names like London Life, Canada Life, and Irish Life. The company's diverse offerings are not just confined to life insurance; they span an extensive spectrum covering health insurance, reinsurance, investment services, and retirement savings plans. This mosaic of services is meticulously crafted to suit the evolving needs of individuals, families, and institutions, illustrating Great-West Lifeco’s adaptability and grasp of market dynamics.
The heart of Great-West Lifeco’s profitability lies in its tried-and-true business model, where it leverages premium income from its insurance products and astutely invests these funds to generate higher returns. This model allows the company to not only cover claims but also to grow its reserves for future obligations. Furthermore, the company's wealth and asset management arms broaden its revenue streams by charging management fees on the assets under its stewardship. By deftly balancing its underwriting operations with astute financial management, Great-West Lifeco solidifies its position as a guardian of people’s financial futures, all while steering its own growth and profitability.
Great-West Lifeco Inc. stands as a formidable force in the financial services sector, weaving its influence largely across North America, Europe, and Asia. As part of the mighty Power Corporation of Canada, it operates through a network of subsidiaries that include well-known names like London Life, Canada Life, and Irish Life. The company's diverse offerings are not just confined to life insurance; they span an extensive spectrum covering health insurance, reinsurance, investment services, and retirement savings plans. This mosaic of services is meticulously crafted to suit the evolving needs of individuals, families, and institutions, illustrating Great-West Lifeco’s adaptability and grasp of market dynamics.
The heart of Great-West Lifeco’s profitability lies in its tried-and-true business model, where it leverages premium income from its insurance products and astutely invests these funds to generate higher returns. This model allows the company to not only cover claims but also to grow its reserves for future obligations. Furthermore, the company's wealth and asset management arms broaden its revenue streams by charging management fees on the assets under its stewardship. By deftly balancing its underwriting operations with astute financial management, Great-West Lifeco solidifies its position as a guardian of people’s financial futures, all while steering its own growth and profitability.
Record Results: Great-West Lifeco achieved record base earnings and base earnings per share in 2025, with base EPS up 12% year-over-year and base ROE reaching 18.2%.
Dividend Increase: Quarterly dividend was raised by 10% to $0.60 per common share, reflecting strong financial performance and capital position.
Strong Cash Generation: The company maintained over $2 billion in deployable cash at year-end, despite $1.6 billion in share buybacks.
Empower Growth: Empower surpassed $2 trillion in client assets, delivering double-digit earnings growth and driving scalability and higher margins.
Capital Flexibility & Buybacks: Great-West repurchased $1.6 billion in shares in 2025 and $250 million so far in 2026, with intent to continue buybacks if no major M&A opportunities arise.
AI & Efficiency: Management emphasized ongoing investments in AI to drive operational efficiency and customer service, aiming to lower efficiency ratio below 50%.
Segment Performance: All business segments showed strong underlying growth, with Canadian and European results impacted by lower surplus earnings but maintaining solid core performance.
Outlook: Management remains confident in hitting medium-term targets, expecting Empower to deliver double-digit earnings growth and base ROE to exceed 19%.
