Great-West Lifeco Inc. announced its first quarter 2014 results today.
irst quarter 2014 net earnings include a contribution from Irish Life of CAD$52 million [Euro €34 million], offset by CAD$5 million [Euro €3 million] of restructuring costs related to the ongoing integration of Irish Life and Canada Life. Irish Life was acquired by Great-West Lifeco, the parent company of Canada Life, in July, 2013. Irish Life contributed CAD$2.6 billion [Euro €1.7 billion] to Europe’s sales and CAD$120 million [Euro €79 million] to Great-West Lifeco’s fee income from Europe for the first quarter. “We had a very successful first quarter with excellent sales results and earnings contribution,” said Bill Kyle, Chief Executive Officer, Irish Life Group.