Great-West Lifeco Inc (TSX:GWO.PR.R.PFD)
C$ 20.79 +0.090 (+0.43%) Market Cap: - Enterprise Value: 7.67 Bil PE Ratio: 12.54 PB Ratio: 1.77 GF Score: 70/100
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Q4 2024 Great-West Lifeco Inc Earnings Call Transcript

Feb 06, 2025 / 01:00PM GMT
Release Date Price: C$20.7 (+0.53%)

Key Points

Positve
  • Great-West Lifeco Inc (GWLIF) reported a sixth consecutive quarter of record base earnings, demonstrating strong momentum in growing shareholder value.
  • Empower, the US segment, delivered a record quarter with base earnings growth of 36% and a significant increase in base ROE.
  • The company announced a 10% increase in its quarterly dividend, reflecting strong financial performance and commitment to shareholder returns.
  • Great-West Lifeco Inc (GWLIF) maintained a strong capital position with a LICAT ratio of 130% and a comfortable leverage ratio.
  • The company reported broad-based growth across its value drivers, with significant contributions from favorable equity markets and stronger foreign currencies.
Negative
  • The company faces tariff-related uncertainties in Canada, the US, and other markets, which could impact future economic conditions.
  • Empower experienced net outflows due to planned member withdrawals, a trend consistent across the industry.
  • Insurance and annuities in Canada saw a decline in CSM, primarily due to the impact of last quarter's assumption changes.
  • The Capital and Risk Solutions segment anticipates modest impacts from recent tragic events in California, with potential claims related to ongoing wildfires.
  • The UK insurance and annuity sales experienced volatility, with significant quarter-to-quarter fluctuations in the bulk annuity market.
Operator

Thank you for standing by. This is the conference operator. Welcome to the Great-West Lifeco fourth quarter 2024 results conference call. As a reminder all participants are on listen-only mode. And the conference is being recorded. (Operator Instructions)

I would now like to turn the conference over to Mr. Shubha Khan, Senior Vice President and Head of Investor Relations at Great-West Lifeco. Please go ahead.

Shubha Khan
Great-West Lifeco Inc - SVP & Head of Investor Relations

Thank you, operator. Hello, everyone, and thank you for joining the call to discuss our fourth quarter financial results. Before we start, please note that a link to our live webcast and materials for this call have been posted on our website at greatwestlifeco.com under the Investor Relations tab.

Please turn to slide 2. I would like to draw your attention to the cautionary notes regarding the use of forward-looking statements, which form part of today's remarks. And please refer to the appendix for a note on the use of non-GAAP financial measures and important

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