TSX:GWO
WINNIPEG, MB, March 17,
2025 /CNW/ - Great-West Lifeco (GWO) has
released an update for its Supplemental Information Package (SIP)
for 2025 for analysts and investors.
The unaudited SIP comparative segment results for 2024
and 2023 have been restated to conform with the 2025 segment
classifications noted below.
- Separated the current Workplace Solutions line of business
results into Retirement and Group Benefits to provide greater
clarity on the distinct drivers of earnings growth for each
business.
- Expanded reporting of Retirement and Wealth lines of business
to add a statement of base earnings1 view for each to
improve understanding of key drivers of results. In conjunction,
the Drivers of Earnings (DOE) view, which is more appropriate for
insurance businesses, has been modified to show base earnings
before taxes1 for each of the Retirement and Wealth
businesses on a separate, single line. Wealth in Europe includes reporting on Asset
Managers.
- Provided enhanced disclosure of Total Assets under
Administration including moving to a new measure of Assets under
Management and Advisement (AUMA)1 for the Retirement and
Wealth lines of business that includes advised solutions. This
change will provide greater visibility into the scale of wealth
management and higher value-added solutions within the
portfolio.
- Reclassified certain expenses, financing charges, related taxes
and other items, that are not directly associated with the
operating segments, to the Corporate segment.
- Added an Efficiency Ratio1 metric to provide greater
transparency with respect to expense management discipline.
- Adjusted previous segment returns on equity to reflect the
changes in classification for the 2025 segment base earnings
allocations (as summarized above) as well as an updated capital
allocation methodology to track allocated capital required by each
segment on a standalone basis.
The updated SIP and a summary
presentation
of the key changes are available at Great-West Lifeco – Investor relations
– Financial reports.
Great-West Lifeco will release its first
quarter 2025 financial results on May 7, 2025, after markets close.
About Great-West Lifeco Inc.
Great-West Lifeco is a financial services holding company
focused on building stronger, more inclusive and financially secure
futures. We operate in Canada,
the United States and Europe under the brands Canada Life, Empower
and Irish Life. Together we provide
wealth, retirement, workplace benefits and insurance and risk
solutions to our over 40 million customer relationships. As of
December 31, 2024, Great-West
Lifeco's assets under administration exceeded $3.2 trillion. Great-West Lifeco trades on the
Toronto Stock Exchange (TSX) under the ticker symbol GWO and is a
member of the Power Corporation group of companies. To learn more,
visit greatwestlifeco.com.
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1 Base
earnings, base earnings before taxes, Assets under Administration,
Assets under Management and Advisement, and Efficiency Ratio are
non-GAAP financial measures/ratios. Additional information
regarding these measures/ratios can be found in the "Glossary" and
"Appendix" sections of the updated Supplemental Information
Package.
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SOURCE Great-West Lifeco Inc.
