Canada's Great-West Lifeco Q1 profit rises on momentum in wealth, retirement lines

Great-West Lifeco

06/05/2026 22:15

Overview

Canada insurance and wealth manager's Q1 base earnings rose 23%, net earnings rose 39%

Base ROE of 19.1% and ROE of 16.8%, achieving company's 19%+ medium term objective

Company repurchased C$567 mln of common shares in Q1 2026

Outlook

Great-West Lifeco did not provide specific guidance for the current or future quarters

Result Drivers

RETIREMENT AND WEALTH MOMENTUM - Co said continued momentum in Retirement and Wealth lines, led by Empower, drove base earnings growth

CAPITAL AND RISK SOLUTIONS - Co said base earnings growth was supported by sustained strength in CRS new business volumes and improved insurance experience

IMPROVED CREDIT AND TRADING - Co said improved credit experience and elevated trading activity contributed to base earnings growth

Company press release: ID:nCNWQM2nYa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
C$1.32
Q1 Net Income
C$1.19 bln
Q1 Base ROE
19.10%
Q1 Dividend
C$0.67


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the life & health insurance peer group is "buy"

Wall Street's median 12-month price target for Great-West Lifeco Inc is C$72.00, about 1.9% below its May 5 closing price of C$73.42

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)