Great-West Lifeco Inc. said on Wednesday that its total assets under management (AUA) were $2.3 trillion as of December 31, up 15% from a year earlier.
The insurer says the increase was primarily due to market performance and new business development.
In 2021, Great-West achieved net income of $3.26 billion on revenue of $64.4 billion (including, but not limited to, net premiums, investment income and fees). In 2020, net profits were $2.94 billion and revenues were $60.6 billion.
As of December 31, Sun Life Financial Inc. managed $1.44 trillion in assets, up from $1.26 trillion a year earlier, an increase of 15%.
“Insurance sales were strong, up 13% year-over-year, driving a 16% increase in new business,” Kevin Strain, president and CEO of Sun Life, said in the release.
“I am proud of how our Sun Life employees and advisors have continued to make a positive impact on our customers’ finances and health, especially now when they need us most.”
Of Sun Life’s $1.44 trillion at the end of 2021, $205 billion was in general funds, $140 billion was in segregated funds, and $1.1 trillion was in mutual funds, managed funds and other AUM.
Sun Life reported net income of $4.37 billion on revenue of $35.7 billion in 2021, compared to net income of $2.8 billion on revenue of $43.3 billion in 2020 year.
