Life Insurance, Retirement Solutions, and Wealth Management
Strategic Profile
All business segments delivered base earnings growth in line with or ahead of medium-term ambitions, supported by robust market positions and customer growth globally, with total client assets reaching $3.3 trillion, up 15% year-over-year. Strong demographic trends and global market expansion position the company for sustained growth in retirement and wealth management solutions, with digital transformation and capital-light business expansion set to drive efficiency and improved returns on equity.
Cyborg Score Rationale
Base earnings grew 15% year-over-year to $1,225 million with base EPS up 17% and net earnings reaching $1,158 million with book value per share increasing 8% year-over-year. Base return on equity reached 17.7%, up 40 basis points year-over-year. Strong capital deployment and operational efficiency support sustained shareholder value creation.
Top Insights
Net plan inflows in U.S. retirement business were $30 billion with Empower Wealth net inflows hitting $3.4 billion, up 43% year-over-year
Insurance experience gains totaled $112 million, nearly double the four-quarter average
Strong execution on strategic priorities with robust cash generation supporting increased share buybacks and capital deployment
Great-West Lifeco Inc. is a subsidiary of Power Financial Corporation
Named Competitors
Sun Life Financial — Diversified financial services in insurance and wealth management
Manulife Financial — Global insurance and wealth management provider
MetLife — Leading U.S. life insurance and retirement solutions
Empower — Leading provider of employer-sponsored retirement savings plans in U.S.
Recent Developments
(December 2025) Received approval to renew Normal Course Issuer Bid allowing buyback of up to 20 million common shares
(Q3 2025) Delivered record results with EPS up 30% year-over-year and robust base earnings growth
(2024) Completed strategic acquisitions and partnerships driving revenue growth and operational efficiencies in U.S. and Canadian segments
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