Home » Blog » Great-West Lifeco reports third quarter 2016 results

Great-West Lifeco reports third quarter 2016 results

Friday, November 4, 2016

Dublin: Thursday 3 November, 2016: Great-West Lifeco Inc. (Lifeco) today announced its third quarter results for the three months ended 30 September 2016. View the full release here

Irish Life, which is owned by Great-West Lifeco contributed Euro €36million (CAD$53 million) to Lifeco’s profits in the third quarter. This represents an increase of 33% from Euro €27 million (CAD$40 million) for the same quarter last year.
David Harney, Chief Executive, Irish Life Group said that the third quarter marked a number of important developments for the company.

““In September we successfully launched Irish Life Health as a new force in the Irish health insurance market. We are very pleased with the positive response including the decision of a number of corporate clients to transfer their company schemes to Irish Life Health.

“Also during the third quarter the total investor assets in Irish Life’s Multi-Asset Portfolio Strategies reached close to €6 billion, including €2 billion by 35,000 investors in Retail MAPS funds,” he said.

In addition, there were significant market share gains in Irish Life’s Corporate Business division driven primarily by the winning of a number of very large new pension scheme clients.

About Irish Life:
Irish Life is one of Ireland’s leading financial services companies with over 1 million customers. For over 75 years, we’ve been helping people in Ireland look after their life insurance, pension and investment needs. Since July 2013 Irish Life has been part of the Great-West Lifeco group of companies, one of the world’s leading life assurance organisations.
Great-West Lifeco and its subsidiaries – including The Great-West Life Assurance Company which this year celebrates its 125th anniversary since the company was founded in Canada more than a century ago - have over CAD$1.2 trillion in consolidated assets under administration and are members of the Power Financial Corporation group of companies.
Irish Life is committed to delivering innovative products backed by the highest standards of customer service. As part of Great-West, we have access to experience and expertise on a global scale, so we can continuously enhance our leading range of products and services.
Irish Life Assurance plc is regulated by the Central Bank of Ireland.
Irish Life Investment Managers Limited is regulated by the Central Bank of Ireland.
Irish Life Health is regulated by the Central Bank of Ireland
For further information, please contact:
Sheila Gahan T: (01) 669 0030, 087 234 2409 E; sheila.gahan@ogilvy.com