Great-West Lifeco Inc, Canada's second-largest life insurer, posted a stronger third-quarter profit on Thursday as its premiums and deposits rose from a year earlier. Winnipeg, Manitoba-based Great-West, which is controlled by Power Financial Corp, earned C$687 million ($601.42 million) in the quarter, or 69 Canadian cents a share, up from a year-earlier profit of C$523 million, or 53 Canadian cents a share.Analysts had forecast a profit of 63 Canadian cents a share.The insurer said its premiums and deposits rose 1 percent to C$20.2 billion from a year earlier.Great-West owns insurance subsidiaries including London Life and Canada Life, as well as Putnam Investments. Last year it acquired Irish Life, Ireland's largest life and pension company.
Great-West Lifeco Inc. (Lifeco) is a financial services holding company with interests in the life insurance, health insurance, asset management, investment and retirement savings and reinsurance businesses. Shares of GWO fell by 0.22% or $-0.07/share to $32.02. In the past year, the shares have traded as low as $28.61 and as high as $33.56. On average, 375017 shares of GWO.TO exchange hands on a given day and today's volume is recorded at 262024.
Power Financial Corporation (Power Financial) is a diversified international management and holding company. Shares of PWF fell by 0.03% or $-0.01/share to $33.28. In the past year, the shares have traded as low as $30.14 and as high as $36.79. On average, 402125 shares of PWF.TO exchange hands on a given day and today's volume is recorded at 365802.
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