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Great-West Lifeco Inc. engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe. The company offers life, accidental death and dismemberment, critical illness, disability, health and dental protection, and creditor insurance products; and retirement savings, income and annuity products, and other specialty products to individuals, families, businesses, and organizations. It also provides individual product solutions and employer-sponsored retirement savings plans that offers saving, investment, and advisory services; retail wealth management products and services to individuals, including individual retirement accounts and after-tax investment accounts; and wealth management, including payout annuity, equity release mortgages, pensions, and investments products. In addition, the company offers bulk and individual payout annuities, equity release mortgages, life bonds, retirement drawdown and pension, and group insurance products; savings and investments; and provides asset management services, such as pension schemes, insurance companies, wealth managers, fiduciary managers, and sovereign wealth funds, as well as manages assets for third-party institutional clients. Further, it provides life, annuity/longevity, mortgage surety, and property catastrophe reinsurance products. The company offers its products under the Empower, Canada Life, and Irish Life brand names. It distributes its products through a network of sales force, brokers, consultants, advisors, third-party administrators, financial institutions, employee benefit consultants, and multi-tied agents. The company was founded in 1979 and is based in Winnipeg, Canada. Great-West Lifeco Inc. is a subsidiary of Power Financial Corporation.
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Great-West Lifeco is a Canadian financial services holding company that provides life and health insurance, retirement solutions and investment management through businesses operating across Canada, the U.S. and Europe. It may benefit from long-term demand for retirement savings and asset-management fees, diversified in-force insurance cash flows and appears positioned to generate relatively stable capital and dividend income.
Investors should monitor sensitivity to interest rates and market volatility, regulatory and actuarial risks from mortality, longevity and legacy liabilities, plus execution and competitive pressures in distribution and asset management.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 4695.00M | 4981.00M | 3068.00M | 3768.00M | 3867.00M |
| Minority interest | -41.00M | -103.00M | -23.00M | -185.00M | -301.00M |
| Net income | 4120.00M | 4070.00M | 2868.00M | 3349.00M | 3262.00M |
| Selling general administrative | 7095.00M | 6732.00M | 6329.00M | 6905.00M | 6129.00M |
| Gross profit | 13127.00M | 13388.00M | 11122.00M | 44704.00M | 64447.00M |
| Reconciled depreciation | 579.00M | 556.00M | 505.00M | 558.00M | 523.00M |
| Ebit | 5062.00M | 5371.00M | 3478.00M | 3971.00M | 3900.00M |
| Ebitda | 5641.00M | 5927.00M | 3983.00M | 4529.00M | 4423.00M |
| Depreciation and amortization | 579.00M | 556.00M | 505.00M | 558.00M | 523.00M |
| Operating income | 4695.00M | -2069.00M | -3334.00M | 3971.00M | 3900.00M |
| Other operating expenses | 34409.00M | 36792.00M | 40065.00M | 40936.00M | 60580.00M |
| Interest expense | 379.00M | 402.00M | 426.00M | 388.00M | 334.00M |
| Tax provision | 534.00M | 737.00M | 53.00M | 234.00M | 304.00M |
| Interest income | 366.00M | 388.00M | 3355.00M | 14.00M | 112.00M |
| Net interest income | -392.00M | -416.00M | -437.00M | -417.00M | -349.00M |
| Extraordinary items | 0.00M | -71.00M | -124.00M | - | - |
| Income tax expense | 534.00M | 737.00M | 53.00M | 234.00M | 304.00M |
| Total revenue | 39104.00M | 34723.00M | 36731.00M | 44704.00M | 64447.00M |
| Total operating expenses | 8432.00M | 15457.00M | 14456.00M | 40936.00M | 60580.00M |
| Cost of revenue | 25977.00M | 21335.00M | 25609.00M | - | - |
| Total other income expense net | - | 7050.00M | 6402.00M | -203.00M | -33.00M |
| Net income from continuing ops | 4161.00M | 4244.00M | 3015.00M | 3534.00M | 3563.00M |
| Net income applicable to common shares | 3960.00M | 3940.00M | 2738.00M | 3219.00M | 3128.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 862828.00M | 802163.00M | 713230.00M | 701455.00M | 630488.00M |
| Intangible assets | 6120.00M | 4958.00M | 4484.00M | 6209.00M | 5514.00M |
| Other current assets | 844.00M | - | 29008.00M | 29821.00M | 24440.00M |
| Total liab | 829825.00M | 769509.00M | 683379.00M | 669137.00M | 600005.00M |
| Total stockholder equity | 29857.00M | 29541.00M | 26836.00M | 29010.00M | 27216.00M |
| Other current liab | 4106.00M | - | -3651.00M | -4345.00M | -4147.00M |
| Common stock | 5983.00M | - | 6000.00M | 5791.00M | 5748.00M |
| Capital stock | 8903.00M | 8791.00M | 8720.00M | 8511.00M | 8468.00M |
| Retained earnings | 17503.00M | 17266.00M | 15492.00M | 17809.00M | 16424.00M |
| Other liab | - | - | - | 644617.00M | 580644.00M |
| Good will | 11283.00M | 11428.00M | 11249.00M | 10604.00M | 9081.00M |
| Other assets | 2874.00M | - | 456715.00M | 510210.00M | 455652.00M |
| Cash | 8194.00M | 9564.00M | 7053.00M | 6411.00M | 4772.00M |
| Cash and equivalents | 4894.00M | - | - | - | - |
| Total current liabilities | 9233.00M | - | 3651.00M | 4345.00M | 4147.00M |
| Net debt | 5221.00M | 284.00M | 2597.00M | 4879.00M | 4961.00M |
| Short term debt | 648.00M | - | 435.00M | 1151.00M | 1115.00M |
| Short long term debt | 648.00M | 523.00M | 435.00M | 1151.00M | 593.00M |
| Short long term debt total | 13415.00M | - | 9650.00M | 11290.00M | 9733.00M |
| Other stockholder equity | 1709.00M | - | 1734.00M | 1709.00M | 1692.00M |
| Property plant equipment | 1498.00M | - | - | 1494.00M | 1547.00M |
| Total current assets | 53561.00M | - | 25172.00M | 26692.00M | 24295.00M |
| Long term investments | 236851.00M | 228520.00M | 214236.00M | 146246.00M | 134399.00M |
| Net tangible assets | - | - | - | 9477.00M | 9901.00M |
| Short term investments | 20200.00M | 15142.00M | 12328.00M | 12429.00M | 12456.00M |
| Net receivables | 24323.00M | 5402.00M | 5791.00M | 7852.00M | 7067.00M |
| Long term debt | 12423.00M | 9325.00M | 8854.00M | 9632.00M | 8618.00M |
| Inventory | - | - | -29008.00M | - | - |
| Accounts payable | 3981.00M | 3524.00M | 3216.00M | 3194.00M | 3032.00M |
| Accumulated other comprehensive income | 1742.00M | - | 890.00M | 981.00M | 632.00M |
| Non currrent assets other | 561274.00M | - | -1848.00M | -164553.00M | -150541.00M |
| Non current assets total | 809267.00M | - | 231343.00M | 164553.00M | 150541.00M |
| Capital lease obligations | 344.00M | 380.00M | 361.00M | 507.00M | 522.00M |
| Long term debt total | 8863.00M | - | - | 10139.00M | 9140.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -408.00M | -119.00M | -5493.00M | -8668.00M |
| Change to liabilities | - | - | - | 0.00M | 0.00M |
| Total cashflows from investing activities | -56.00M | -408.00M | -786.00M | -5493.00M | -11212.00M |
| Net borrowings | -551.00M | -60.00M | -1408.00M | 1297.00M | -768.00M |
| Total cash from financing activities | -4322.00M | -2285.00M | -3550.00M | -620.00M | -992.00M |
| Change to operating activities | - | - | - | -20031.00M | 4495.00M |
| Net income | 4695.00M | 4821.00M | 2868.00M | 3768.00M | 3867.00M |
| Change in cash | -1807.00M | 2592.00M | 452.00M | 1215.00M | -1871.00M |
| Begin period cash flow | 10709.00M | 8117.00M | 7290.00M | 6075.00M | 7946.00M |
| End period cash flow | 8902.00M | 10709.00M | 7742.00M | 7290.00M | 6075.00M |
| Total cash from operating activities | 2708.00M | 4751.00M | 5203.00M | 7047.00M | 10373.00M |
| Issuance of capital stock | 299.00M | 88.00M | 107.00M | 43.00M | 297.00M |
| Depreciation | - | - | 505.00M | 558.00M | 523.00M |
| Other cashflows from investing activities | -56.00M | -211.00M | -223.00M | -5493.00M | -11212.00M |
| Dividends paid | 2413.00M | -2199.00M | -2067.00M | 1956.00M | 1811.00M |
| Change to account receivables | - | - | -480.00M | - | - |
| Sale purchase of stock | -1653.00M | -114.00M | -233.00M | -4.00M | -194.00M |
| Other cashflows from financing activities | 196.00M | - | -786.00M | 1792.00M | 920.00M |
| Change to netincome | - | - | - | 23171.00M | 2093.00M |
| Capital expenditures | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in working capital | 4661.00M | -839.00M | -2039.00M | -20031.00M | 4774.00M |
| Stock based compensation | - | - | 288.00M | - | - |
| Other non cash items | -6648.00M | 769.00M | 4157.00M | 22752.00M | 1209.00M |
| Free cash flow | 2708.00M | 4751.00M | 5203.00M | 7047.00M | 10373.00M |
Sector: Financial Services Industry: Insurance - Life
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| GWO Great-West Lifeco Inc. |
-4.89 5.18% |
89.51 | 16.63 | 13.07 | 1.81 | 2.37 | 1.84 |
| MFC Manulife Financial Corp |
-2.53 3.94% |
61.64 | 17.14 | 11.61 | 2.82 | 1.99 | 1.56 |
| MFC-PK Manulife Financial Corp Pref K |
-0.18 0.69% |
25.86 | 4.95 | - | 3.01 | - | - |
| MFC-PJ Manulife Fin Non Cum Cl 1 11 Prf |
0.09 0.35% |
25.50 | 4.84 | - | 2.81 | - | - |
| MFC-PL Manulife Financial Corp Pref L |
-0.01 0.04% |
24.76 | 4.15 | - | 2.79 | - | - |
Great-West Lifeco Inc. engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe. The company offers life, accidental death and dismemberment, critical illness, disability, health and dental protection, and creditor insurance products; and retirement savings, income and annuity products, and other specialty products to individuals, families, businesses, and organizations. It also provides individual product solutions and employer-sponsored retirement savings plans that offers saving, investment, and advisory services; retail wealth management products and services to individuals, including individual retirement accounts and after-tax investment accounts; and wealth management, including payout annuity, equity release mortgages, pensions, and investments products. In addition, the company offers bulk and individual payout annuities, equity release mortgages, life bonds, retirement drawdown and pension, and group insurance products; savings and investments; and provides asset management services, such as pension schemes, insurance companies, wealth managers, fiduciary managers, and sovereign wealth funds, as well as manages assets for third-party institutional clients. Further, it provides life, annuity/longevity, mortgage surety, and property catastrophe reinsurance products. The company offers its products under the Empower, Canada Life, and Irish Life brand names. It distributes its products through a network of sales force, brokers, consultants, advisors, third-party administrators, financial institutions, employee benefit consultants, and multi-tied agents. The company was founded in 1979 and is based in Winnipeg, Canada. Great-West Lifeco Inc. is a subsidiary of Power Financial Corporation.
100 Osborne Street North, Winnipeg, MB, Canada, R3C 1V3
204 946 1190
33430
| Name | Title | Year Born |
|---|---|---|
| Mr. Paul Anthony Mahon | Pres, CEO & Director | 1964 |
| Mr. Garry MacNicholas | Exec. VP & CFO | NA |
| Mr. Raman Srivastava CFA | Exec. VP & Global Chief Investment Officer | NA |
| Mr. Arshil Jamal | Pres & Group Head of Strategy, Investments, Reinsurance and Corp. Devel. | NA |
| Mr. Jeffrey F. Macoun | Pres & COO for Canada | NA |
| Mr. Edmund Francis Murphy III | Pres & CEO of Empower Retirement | 1962 |
| Mr. Gordon Patrick Menzie | Sr. Vice-Pres of Corp. Fin. & Treasury | NA |
| Ms. Anne C. Sonnen | Sr. VP & Chief Compliance Officer | NA |
| Ms. Sharon C. Geraghty | Exec. VP & Gen. Counsel | NA |
| Mr. David Simmonds | Sr. VP and Chief Communications & Sustainability Officer | NA |
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