The information included below is as disclosed by Lifeco. Refer to its Management’s Discussion and Analysis for the interim financial period ended September 30, 2022, located under its profile on SEDAR at www.sedar.com or on its website at www.greatwestlifeco.com for more information.
| |
For the three months ended
|
For the nine months ended
|
|
(In millions of canadian dollars, except per share amounts or as otherwise noted)
(unaudited)
|
Sept. 30
2022
|
June 30
2022
|
Sept. 30
2021
|
Sept. 30
2022
|
Sept. 30
2021
|
|
Earnings
|
|
|
|
|
|
|
Net earnings — common shareholders
|
688 |
735 |
872 |
2,193 |
2,363 |
|
Base earnings(1)
|
688 |
830 |
870 |
2,327 |
2,435 |
|
Per common share
|
|
|
|
|
|
|
Basic:
|
|
|
|
|
|
|
Net earnings
|
0.738 |
0.789 |
0.938 |
2.354 |
2.544 |
|
|
Base earnings(2)
|
0.738 |
0.893 |
0.934 |
2.500 |
2.620 |
|
Diluted net earnings
|
0.738 |
0.788 |
0.936 |
2.352 |
2.540 |
|
Dividends paid
|
0.490 |
0.490 |
0.438 |
1.470 |
1.314 |
|
Book value(3)
|
25.61 |
25.00 |
24.40 |
25.61 |
24.40 |
|
Return on equity(3)
|
12.7% |
13.7% |
14.9% |
12.7% |
14.9% |
|
Base return on equity(2)
|
13.5% |
14.5% |
14.5% |
13.5% |
14.5% |
|
Total net premiums
|
13,921 |
16,305 |
14,921 |
44,277 |
39,824 |
|
Total premiums and deposits(1)
|
44,265 |
41,591 |
39,282 |
130,014 |
121,149 |
|
Fee and other income
|
1,897 |
1,909 |
1,858 |
5,619 |
5,409 |
|
Net policyholder benefits, dividends and experience refunds
|
14,162 |
15,030 |
10,915 |
41,939 |
35,011 |
|
Total assets per financial statements
|
672,764 |
670,305 |
614,962 |
672,764 |
614,962 |
|
Total assets under management(1)
|
991,905 |
988,986 |
980,726 |
991,905 |
980,726 |
|
Total assets under administration(1)(4)
|
2,384,273 |
2,342,296 |
2,205,280 |
2,384,273 |
2,205,280 |
|
Total equity
|
31,361 |
30,550 |
30,232
|
31,361 |
30,232 |
|
The Canada Life Assurance Company consolidated LICAT Ratio(5)
|
118% |
117% |
123% |
118% |
123% |
(1) These measures are non-GAAP financial measures identified by Lifeco. Non-GAAP financial measures do not have a standard meaning and may not be comparable to similar measures used by other entities. For definitions, further explanations of uses and reconciliations of such non-GAAP financial measures to measures prescribed by GAAP, refer to the “Non-GAAP Financial Measures and Ratios” section of Lifeco’s Management’s Discussion and Analysis for the interim financial period ended September 30, 2022, located under Lifeco’s profile on SEDAR at www.sedar.com, which definitions, explanations and reconciliations are incorporated herein by reference.
(2) These measures are non-GAAP ratios identified by Lifeco. Non-GAAP ratios do not have a standard meaning and may not be comparable to similar measures used by other entities. For definitions, further explanations of uses and reconciliations of such non-GAAP financial measures to measures prescribed by GAAP, refer to the “Non-GAAP Financial Measures and Ratios” section of Lifeco’s Management’s Discussion and Analysis for the interim financial period ended September 30, 2022, located under Lifeco’s profile on SEDAR at www.sedar.com, which definitions, explanations and reconciliations are incorporated herein by reference.
(3) For an explanation of the composition of these measures, refer to the “Glossary” section of Lifeco’s Management’s Discussion and Analysis for the interim financial period ended September 30, 2022, located under Lifeco’s profile on SEDAR at www.sedar.com.
(4) 2021 comparative figures have been restated to include Financial Horizons Group and Excel Private Wealth Inc. assets under administration in the Canada segment.
(5) The Life Insurance Capital Adequacy Test (LICAT) Ratio is based on the consolidated results of The Canada Life Assurance Company, Lifeco’s major Canadian operating subsidiary. The LICAT Ratio is calculated in accordance with the Office of Superintendent of Financial Institutions’ guideline - Life Insurance Capital Adequacy Test. Refer to the “Capital Management and Adequacy” section of Lifeco’s Management’s Discussion and Analysis for the interim period ended September 30, 2022, located under Lifeco’s profile on SEDAR at www.sedar.com for additional details.
The information included below is as disclosed by Lifeco. Refer to its Management's Discussion and Analysis for the financial year ended December 31, 2021, located under its profile on SEDAR at www.sedar.com or on its website at www.greatwestlifeco.com for more information.
|
As at and for the years ended December 31 [in millions of canadian dollars, except per share amounts or as otherwise noted]
(unaudited)
|
2021
|
2020
|
2019
|
|
Total revenue
|
64,417
|
60,583 |
44,698
|
|
Earnings — common shareholders
|
|
|
|
|
Net earnings
|
3,128
|
2,943 |
2,359
|
|
Base earnings(1)
|
3,260
|
2,669 |
2,704
|
|
Earnings per common share
|
|
|
|
|
Basic - net earnings
|
3.365
|
3.173 |
2.494
|
|
Diluted - net earnings
|
3.360
|
3.172 |
2.493
|
|
Basic - base earnings(2)
|
3.507
|
2.878 |
2.859
|
|
Diluted - base earnings(2)
|
3.502
|
2.877 |
2.857
|
|
Total assets under administration(1)
|
|
|
|
|
Total assets
|
630,488
|
600,490 |
451,167
|
|
Proprietary mutual funds and institutional assets(3)
|
377,155
|
350,943 |
320,548
|
|
Total assets under management(1)
|
1,007,643
|
951,433 |
771,715
|
|
Other assets under management(3)
|
1,271,931
|
1,024,414 |
857,966
|
|
Total assets under administration(1)
|
2,279,574
|
1,975,847 |
1,629,681
|
|
Total liabilities
|
600,005
|
573,475 |
425,624
|
|
Dividends paid per common share(4)
|
1.804
|
1.752 |
1.652
|
(1) These measures are non-GAAP financial measures identified by Lifeco. Non-GAAP financial measures do not have a standard meaning and may not be comparable to similar measures used by other entities. For definitions, further explanations of uses and reconciliations of such non-GAAP financial measures to measures prescribed by GAAP, refer to the “Non-GAAP Financial Measures and Ratios” section of Lifeco’s Management’s Discussion and Analysis for the financial year ended December 31, 2021, located under Lifeco’s profile on SEDAR at www.sedar.com, which definitions, explanations and reconciliations are incorporated herein by reference.
(2) These measures are non-GAAP ratios identified by Lifeco. Non-GAAP ratios do not have a standard meaning and may not be comparable to similar measures used by other entities. For definitions, further explanations of uses and reconciliations of such non-GAAP financial measures to measures prescribed by GAAP, refer to the “Non-GAAP Financial Measures and Ratios” section of Lifeco’s Management’s Discussion and Analysis for the financial year ended December 31, 2021, located under Lifeco’s profile on SEDAR at www.sedar.com, which definitions, explanations and reconciliations are incorporated herein by reference.
(3) For an explanation of the composition of these measures, refer to the “Glossary” section of Lifeco's Management's Discussion and Analysis for the financial year ended December 31, 2021, located under Lifeco’s profile on SEDAR at www.sedar.com.
(4) In 2021, Lifeco made dividend payments to common shareholders on each of March 31, June 30 and September 30 in the amount of $0.438 per share. On November 15, 2021, Lifeco announced an increase to the quarterly dividend of $0.052 per share. On December 31, 2021, Lifeco made a dividend payment to common shareholders in the amount of $0.490 per share.
