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Power Financial Corporation is a diversified management and holding company that has interests, directly or indirectly, in companies in the financial services sector in Canada, the United States, Europe and Asia.

The Corporation also has substantial holdings in a diversified group based in Europe.

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Latest reports
2015 Annual Report
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2016 Fourth Quarter and Year-End Report
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Subsidiaries

Great-West Lifeco

Great-West Lifeco

Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses.

The company has operations in Canada, the United States, Europe and Asia through Great-West Life, London Life, Canada Life, Irish Life, Great-West Financial and Putnam Investments.

IGM Financial

IGM Financial

IGM Financial is one of Canada’s premier personal financial services companies, and one of the country’s largest managers and distributors of mutual funds and other managed asset products.

The company serves the financial needs of Canadians through multiple distinct businesses, including Investors Group, Mackenzie Investments and Investment Planning Counsel.

Pargesa Holding

Pargesa Holding

Power Financial, through its wholly owned subsidiary, Power Financial Europe B.V., and the Frère family group of Belgium each hold a 50% interest in Parjointco, a Netherlands-based company. Parjointco’s principal holding is a 55.5% equity interest (75.4% of the voting rights) in Pargesa Holding SA, the Pargesa group’s parent company based in Geneva, Switzerland.

The Pargesa group, through the holding company Groupe Bruxelles Lambert, holds significant positions in large companies based in Europe.


Financial Highlights

 

For the three months ended

For the years ended

(In millions of canadian dollars, except per share amounts or as otherwise noted)
(unaudited)

Sept. 30
2016

June 30
2016

Sept. 30
2015

December 31
2015

December 31
2014

Revenues

14,106

13,470

9,281

36,512

41,775

Operating earnings attributable to common shareholders(1)

541

557

596

2,241

2,105

Operating earnings per common share(1)

0.76

0.78

0.83

3.14

2.96

Net earnings attributable to common shareholders

539

505

602

2,319

2,136

Net earnings per common share

0.76

0.71

0.84

3.25

3.00

Dividends declared per common share

0.3925

0.3925

0.3725

1.49

1.40

Consolidated assets

419,840

408,210

407,200

417,630

373,843

Shareholders' equity

19,169

18,723

18,856

19,550

17,019

Book value per common share

23.26

22.63

22.82

23.79

20.29

Common shares outstanding (in millions)

713.2

713.2

713.2

713.2

711.7

(1) Operating earnings attributable to common shareholders and operating earnings per common share are non-IFRS financial measures.

As at and for the years ended December 31
[in millions of Canadian dollars, except as otherwise noted]
(unaudited)

2015

2014

2013

2012

2011(1)

Consolidated Balance Sheets

         

Cash and cash equivalents

4,188

3,989

4,344

3,313

3,385

Total assets

417,630

373,843

341,682

268,428

252,678

Shareholders' equity

19,550

17,019

15,993

13,451

13,521

Consolidated Statements of Earnings

         

Revenues

         

Premium income, net

24,501

21,222

20,236

19,257

17,293

Invesment income, net

4,319

13,563

2,661

8,375

9,764

Fee income

7,692

6,900

5,933

5,302

5,343

 

36,512

41,775

28,830

32,934

32,400

Expenses

       

 

Total paid or credited to policyholders

22,842

29,160

17,811

22,875

23,043

Commissions

3,133

2,901

2,590

2,487

2,312

Operating and administrative expenses

5,883

5,162

4,474

3,806

3,006

Financing charges

413

413

400

409

409

 

32,271

37,636

25,275

29,577

28,770

 

4,241

4,139

3,555

3,357

3,630

Share of earnings (losses) of investments in jointly controlled corporations and associates

224

211

134

130

(20)

Earnings before income taxes — continuing operations

4,465

4,350

3,689

3,487

3,610

Incomes taxes

679

834

678

559

706

Net earnings — continuing operations

3,786

3,516

3,011

2,928

2,904

Net earnings — discontinued operations

-

-

-

-

63

Net earnings

3,786

3,516

3,011

2,928

2,967

Attributable to

         

Non-controlling interests

1,337

1,248

984

1,193

1,141

Perpetual preferred shareholders

130

132

131

117

104

Common shareholders

2,319

2,136

1,896

1,618

1,722

 

3,786

3,516

3,011

2,928

2,967

Per share

         

Operating earnings attributable to common shareholders(2)

3.14

2.96

2.40

2.37

2.44

Net earnings attributable to common shareholders from discontinued operations

-

-

-

-

0.05

Net earnings attributable to common shareholders

3.25

3.00

2.67

2.29

2.43

Dividends declared on common shareholders

1.49

1.40

1.40

1.40

1.40

Book value at year-end

23.79

20.29

18.61

15.79

16.26

Market price (common shares)

         

High

38.78

36.70

36.79

30.15

31.98

Low

30.28

30.14

27.02

24.06

23.62

Year-end

31.81

36.18

36.00

27.24

25.54

(1) The 2011 figures have not been adjusted to reflect current year reclassifications and new and revised IFRS adopted on January 1, 2013.
(2) Operating earnings per share is a non-IFRS financial measure.

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