Corrected: Canada's Great-West Lifeco Q2 base EPS rises on retirement, wealth business momentum

Great-West Lifeco

28/07/2026 22:13

Corrects currency to C$ from $ in the Overview section; removes reference to Retirement and Wealth businesses from Outlook

Overview
Canada insurance and wealth manager's Q2 base EPS rose 15% to C$1.42
Net EPS for Q2 rose 20% to C$1.16
Company repurchased C$336 mln in shares and announced U.S. retirement business acquisition

Outlook
Company expects Milliman acquisition to be accretive to base earnings in Year 1
Company sees robust capital generation and balance sheet supporting future growth

Result Drivers
RETIREMENT AND WEALTH MOMENTUM - Co said double-digit base earnings growth was driven by sustained momentum in Retirement and Wealth businesses, led by Empower
CAPITAL SOLUTIONS GROWTH - Continued strength in Capital Solutions new business contributed to higher earnings in Capital and Risk Solutions segment
UNFAVOURABLE INSURANCE EXPERIENCE - Canadian segment earnings were partially offset by moderated Group Benefits insurance experience and lower trading activity

Company press release: ID:nCNWtz3gRa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Base EPS
 
C$1.42
 
Q2 Net Earnings
 
C$1.04 bln
 
Q2 Base ROE
 
19.3%
 
Q2 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", 5 "hold" and 1 "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$93.00, about 1.2% above its July 27 closing price of C$91.88
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
July 27 - Principal Financial profit rises on higher premiums, strength in retirement business
July 28 - Unum Group Q2 revenue eases past estimates on premium growth
July 28 - Bermuda's AXIS Capital Q2 net income rises, operating profit drops

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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.)