Q3 2025 Great-West Lifeco Inc Earnings Call Transcript

Nov 6, 2025 / 02:00 PM GMT

Release Date Price: €37 (+1.09%)

Transcript

Key Points

Positve

Great-West Lifeco Inc (GWLIF) has successfully de-risked its portfolio, resulting in fewer claims and reduced exposure to catastrophic events.
The company added $80 million in expected annual earnings from its CRS business, highlighting its strong positioning to capture market opportunities.
The strategic partnership with Franklin is growing and expected to generate contingent capital over the medium term.
The US Empower business is delivering strong organic growth, with potential for further add-ons and acquisitions.
Great-West Lifeco Inc (GWLIF) maintains a diversified portfolio, which is a significant advantage in the market, reducing dependency on any single business line.

Negative

The company's annualized earnings growth rate is projected at mid-single digits, which some investors may find conservative.
The mortality and PNC reinsurance businesses have shown flat earnings, potentially limiting overall growth.
The impact of the Canadian federal budget on reinsurance transactions could slightly increase the company's effective tax rate.
Plan participant outflows in the Empower business were significant, driven by market conditions and large institutional cash-outs.
The CRS business requires continuous replacement of 10-20% of its business annually to maintain growth, indicating a need for constant new business generation.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GWO.TO - Great-West Lifeco Inc
Q3 2025 Great-West Lifeco Inc Earnings Call
Nov 06, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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And see catastrophe, that we feel sorry for the poor people in Jamaica and our heart goes to them.

It was, it was a big hurricane, a big loss. The early, it's early for us to tell whether we're going to be impacted or not, but the early estimate of the insured loss are such that we don't think we're going to have an effect on it. I think over the last few years we've been telling you we've been de-risking or getting further away from the risk, so we have been doing that and the result of that is we we see less claims as a result. I hope that I didn't miss anything here.

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Unidentified_2 [2]
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