Great-West Lifeco stock shows record ROE despite Canadian weakness

Published on 11/09/2026 at 16:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Great-West Lifeco stock follows record third-quarter profitability and stronger U.S. operations. Canada remained a drag on earnings.

Record profitability meets mixed segment trends

Great-West Lifeco's third-quarter base earnings rose 8% year over year.
U.S. and Capital and Risk Solutions growth offset weaker Canadian insurance experience.
The company approved a quarterly common-share dividend of 0.67 Canadian dollars.

GWO, CA39138C1068, Illustration mit AI erstellt.

Great-West Lifeco delivered record underlying profitability in the third quarter, as growth in U.S. retirement and wealth operations and Capital and Risk Solutions offset weaker Canadian insurance experience. The company announced the results on Wednesday, November 4, 2026.

According to Great-West Lifeco's release published by CNW, base earnings reached 1,323 million Canadian dollars, up 8% from the third quarter of 2025. Base earnings per share increased 11% to 1.48 Canadian dollars, while net earnings declined 2% to 1,139 million Canadian dollars.

U.S. growth leads the quarter

Base return on equity reached a record 19.4%, compared with 17.7% a year earlier and in line with management's medium-term objective of at least 19%. Retirement and Wealth contributed more than half of group base earnings, highlighting the company's shift toward higher-growth and more capital-efficient businesses.

The U.S. segment generated 510 million Canadian dollars of base earnings, an increase of 17% year over year. Capital and Risk Solutions also rose 17% to 309 million Canadian dollars, supported by new business in Capital Solutions. Europe added 3% to 273 million Canadian dollars.

Canada was the main counterweight. Segment base earnings fell 6% to 347 million Canadian dollars as moderated Group Benefits insurance experience outweighed stronger retirement and improved Insurance and Risk Solutions results. The company also reported a 127% LICAT capital ratio and 340 million Canadian dollars of common-share repurchases during the quarter.

Shareholder returns remain in focus

The board approved a quarterly common-share dividend of 0.67 Canadian dollars, payable on December 31, 2026, to shareholders of record on December 3. The Milliman retirement and benefits administration acquisition in the United States was completed during the quarter.

Great-West Lifeco stock traded at 57.73 euros on Lang & Schwarz at 16:35 CET on Monday, November 9, 2026. That was 1.50% below the 58.61-euro quote in the November 3 report, a separate comparison from the daily exchange-based performance.