{"id":1163,"date":"2024-01-06T15:56:11","date_gmt":"2024-01-06T15:56:11","guid":{"rendered":"https:\/\/financeify.ca\/?p=1163"},"modified":"2024-01-06T15:56:11","modified_gmt":"2024-01-06T15:56:11","slug":"gwl-reports-good-investment-and-insurance-results-for-the-second-quarter","status":"publish","type":"post","link":"https:\/\/financeify.ca\/index.php\/2024\/01\/06\/gwl-reports-good-investment-and-insurance-results-for-the-second-quarter\/","title":{"rendered":"GWL reports good investment and insurance results for the second quarter"},"content":{"rendered":"

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Great-West Lifeco Inc. said on Wednesday that its total assets under administration (AUA) were $2.34 trillion as of June 30, up 8.1% from $2.17 trillion a year earlier, mainly due to acquisitions south of border.<\/p>\n

Total AUA in Canada was $218 billion as of June 30, down 6% from $232 billion a year earlier. Total U.S. AUA was $1.88 trillion ($1.46 trillion), up 13.4% from $1.66 trillion ($1.34 trillion) a year earlier.<\/p>\n

Great-West Life & Annuity Insurance Co., a Colorado-based subsidiary doing business as Empower, completed its acquisition of Prudential Financial Inc. on April 1. offering a full range of retirement services. The Empower-Prudential transaction added $116 billion in total assets, $1 billion in other assets under management and $250 billion in other AUAs to the balance sheet.<\/p>\n

Great-West Lifeco Inc. said Wednesday that its net income attributable to common shareholders was $735 million in the second quarter, down 6.3% from $784 million a year ago. Earnings per diluted share were 79 cents, compared with 84 cents a year ago. This was due to higher acquisition-related costs, primarily resulting from the acquisition of Prudential.<\/p>\n

Basic earnings per share for the quarter were unchanged from the prior-year quarter at 89 cents.<\/p>\n

\u201cStrong performance in insurance and investments offsets the weakening impact of equity markets on wealth and asset management businesses,\u201d Great-West President and CEO Paul Mahon said in a statement Wednesday.<\/p>\n

Total insurance and property sales in Canada were $3.22 billion in the second quarter of this year, down 3.7% from $3.35 billion a year ago. This was primarily due to lower sales of individual investment funds and segregated funds.<\/p>\n

Individual property sales in Canada were $2.36 billion in the second quarter of this year, down 7% from $2.55 billion in the second quarter of 2021.<\/p>\n

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Great-West Lifeco Inc. said on Wednesday that its total assets under administration (AUA) were $2.34 trillion as of June 30, up 8.1% from $2.17 trillion a year earlier, mainly due to acquisitions south of border. Total AUA in Canada was $218 billion as of June 30, down 6% from $232 billion a year earlier. Total […]<\/p>\n","protected":false},"author":1,"featured_media":1164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[259,580,32,300,583,581,582],"class_list":{"0":"post-1163","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-seg-fund-investments","8":"tag-good","9":"tag-gwl","10":"tag-insurance","11":"tag-investment","12":"tag-quarter","13":"tag-reports","14":"tag-results"},"aioseo_notices":[],"yoast_head":"\nGWL reports good investment and insurance results for the second quarter - Financeify<\/title>\n<meta name=\"description\" content=\"Great-West Lifeco Inc. said on Wednesday that its total assets under administration (AUA) were $2.34 trillion as of June 30, up 8.1% from $2.17 trillion a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeify.ca\/index.php\/2024\/01\/06\/gwl-reports-good-investment-and-insurance-results-for-the-second-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GWL reports good investment and insurance results for the second quarter - 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