Great-West Lifeco reports third quarter 2011 results

TSX:GWO

Readers are referred to the cautionary notes regarding Forward-Looking Information and Non-IFRS Financial Measures at the end of this release.  All figures are expressed in Canadian dollars, except as noted.

TORONTO, Nov. 10, 2011 /CNW/ - Great-West Lifeco Inc. (Lifeco) has reported net earnings attributable to common shareholders of $457 million for the three months ended September 30, 2011, compared to $267 million in the third quarter of 2010.  On a per common share basis, this represents $0.481 per common share for the three months ended September 30, 2011, compared to $0.281 per common share for the same period in 2010. Third quarter 2010 net earnings include the impact of an incremental litigation provision of $204 million attributable to common shareholders.

For the nine months ended September 30, 2011, net earnings attributable to common shareholders were $1,398 million, compared to $1,150 million a year ago.  This represents $1.473 per common share for the nine months ended September 30, 2011, compared to $1.213 per common share for the same period in 2010.

The Company's sensitivity to the euro remains low as less than 2% of the Company's net earnings year-to-date are in euros. The Canadian dollar continued to strengthen against both the U.S. dollar and the British pound resulting in a negative impact of $8 million in the third quarter and $20 million year-to-date, compared to the same periods in 2010.

Consolidated assets under administration at September 30, 2011 were $493.3 billion up $6.3 billion from December 31, 2010.

Highlights

  • Since June 24, 2011, the credit ratings for Lifeco and its major operating subsidiaries were affirmed with a stable outlook by Fitch Ratings, A.M. Best Company, DBRS Limited, Moody's Investors Service and Standard & Poor's Ratings Services.  The Company continues to enjoy strong ratings relative to its North American peer group due to its conservative risk profile and stable earnings track record.
  • The Company maintained a relatively stable return on common shareholders' equity of 16.6%.
  • The Company's capital position remains very strong.  Lifeco's Canadian operating subsidiary, The Great-West Life Assurance Company, reported a Minimum Continuing Capital and Surplus Requirements (MCCSR) ratio of 200% at September 30, 2011.
  • Only 3% of the Company's invested assets are in bonds of government and financial institutions of Eurozone countries as at September 30, 2011. The Company's credit market experience remains stable with credit related charges and provisions totaling $16 million after-tax in third quarter 2011.
  • Sales in Canada of Group insurance were up 13% overall in quarter compared to 2010, driven by strong large case and creditor group sales. Sales of Wealth Management proprietary retail investments increased 8% and Individual Insurance disability and critical illness sales increased 9% overall compared to the third quarter of 2010.
  • U.S. Financial Services formally launched an Individual Retirement Account rollover initiative in the second quarter which resulted in year to date sales of US$141 million, an increase of 120% from the prior year.
  • Putnam net sales for the nine months ended September 30, 2011 were US$2.0 billion positive, a US$2.5 billion improvement over the same period a year ago.
  • Putnam launched a Dynamic Risk Allocation Fund, designed to actively balance the sources of portfolio risk across multiple asset classes, with flexibility to respond dynamically to changing economic conditions and market valuations, in pursuit of consistent levels of total return.
  • Sales in Europe increased by 29% in the quarter compared to 2010 due to continued strong growth of single premium savings products in the Isle of Man.
  • In the United Kingdom, Canada Life was named "Most Competitive Annuity Provider" for the sixth consecutive year and won "Best Tax and Estate Planning Solutions Provider" for the first time in the 2011 Investments Life and Pensions Moneyfacts awards. The U.K. group operation was named "Best Group Protection Provider" for the third consecutive year.
  • The Company declared a quarterly common dividend of $0.3075 per common share payable December 30, 2011.

OPERATING RESULTS

Consolidated net earnings for Lifeco comprise the net earnings of The Great-West Life Assurance Company (Great-West Life), Canada Life Financial Corporation (CLFC), London Life Insurance Company (London Life), Great-West Life & Annuity Insurance Company (GWL&A), and Putnam Investments, LLC (Putnam), together with Lifeco's corporate results.

CANADA

Net earnings attributable to common shareholders for the third quarter of 2011 were $235 million compared to $249 million in the third quarter of 2010.  The Company adopted revised Actuarial Standards of Practice in the third quarter of 2011, resulting in the Canadian operation incorporating future mortality improvement in actuarial liabilities. The resulting net gain was offset by the impact of strengthening interest mismatch provisions in light of declining interest rates and additional provisions reflecting updated experience studies. Results also reflect mark-to-market gains on investment properties in corporate surplus.  For the nine months ended September 30, 2011, net earnings attributable to common shareholders were $742 million compared to $738 million for the same period in 2010.

Total sales for the quarter were $1.9 billion, compared to $2.0 billion in the third quarter of 2010.  Sales in Canada of Group insurance were up 13% overall in quarter compared to 2010, driven by strong large case and creditor group sales. Sales of Wealth Management proprietary retail investments increased 8% and Individual Insurance disability and critical illness sales increased 9% overall compared to the third quarter of 2010. Sales of group retirement products decreased by 27% compared to the same quarter last year due to lower investment only sales.

Total assets under administration at September 30, 2011 were $126.5 billion, compared to $126.9 billion at December 31, 2010.

UNITED STATES

Net earnings attributable to common shareholders for the third quarter of 2011 were $75 million compared to $87 million in the third quarter of 2010.  These results include a net loss of US$11 million from Putnam operations in the third quarter of 2011 compared to a gain of US$3 million over the same period a year ago primarily due to mark-to-market losses in investment income and slightly lower fee income. For the nine months ended September 30, 2011, net earnings attributable to common shareholders were $291 million compared to $213 million for the same period in 2010.

Total sales for the quarter were $7.3 billion compared to $11.0 billion in 2010.  Sales in Putnam were $5.7 billion for the third quarter compared to $6.2 billion a year ago primarily reflecting volatility in the markets. Sales in the Financial Services segment were $1.6 billion for the third quarter compared to $4.8 billion a year ago.  The Financial Services segment prior year sales included large plan sales not repeated this quarter.

Total assets under administration at September 30, 2011 were $296.9 billion compared to $294.1 billion at December 31, 2010.  Included in assets under administration at September 30, 2011 were $176.4 billion of assets under management consisting of $118.4 billion of mutual fund and institutional account assets managed by Putnam and $58.0 billion of general account, separate account and proprietary mutual funds managed by Financial Services.

EUROPE

Net earnings attributable to common shareholders for the third quarter of 2011 were $148 million compared to $138 million in the third quarter of 2010. These results include a release of interest mismatch provisions due to the positive impact of lower interest rates on the U.K. payout annuity portfolios, partially offset by the impact of less favourable mortality experience in the U.K. group and payout annuity businesses. Results also reflect the benefit of reduced tax liability provisions in the U.K and Reinsurance operations and a lower UK corporate income tax rate. For the nine months ended September 30, 2011, net earnings attributable to common shareholders were $381 million compared to $413 million for the same period in 2010.

Total sales for the quarter were $1.3 billion compared to $1.0 billion in 2010.  Sales of single premium savings products increased 139% in the Isle of Man, reflecting fluctuations in the number of large cases which vary from quarter to quarter.  This increase was partially offset by a decline in sales of single premium savings products and payout annuities in the U.K.

Total assets under administration at September 30, 2011 were $69.9 billion, compared to $66.0 billion at December 31, 2010.

CORPORATE

Net earnings in the Lifeco corporate segment attributable to common shareholders was a net loss of $1 million in the third quarter of 2011 compared to a net loss of $207 million for the third quarter of 2010.  For the nine months ended September 30, 2011 net earnings in the Lifeco corporate segment attributable to common shareholders was a net loss of $16 million compared to a net loss of $214 million for the same period in 2010. Both third quarter and nine months 2010 results include the impact of an incremental litigation provision of $204 million attributable to common shareholders.

QUARTERLY DIVIDENDS

At its meeting today, the Board of Directors approved a quarterly dividend of $0.3075 per share on the common shares of the Company payable December 30, 2011 to shareholders of record at the close of business December 2, 2011.

For purposes of the Income Tax Act (Canada), and any similar provincial legislation, the dividends referred to above are eligible dividends.

In addition, the Directors approved quarterly dividends on:

  • Series F First Preferred Shares of $0.36875 per share;
  • Series G First Preferred Shares of $0.3250 per share;
  • Series H First Preferred Shares of $0.30313 per share;
  • Series I First Preferred Shares of $0.28125 per share;
  • Series J First Preferred Shares of $0.3750 per share;
  • Series L First Preferred Shares of $0.353125 per share;
  • Series M First Preferred Shares of $0.36250 per share; and
  • Series N First Preferred Shares of $0.228125 per share

all payable December 30, 2011 to shareholders of record at the close of business December 2, 2011.

GREAT-WEST LIFECO

Great-West Lifeco Inc. (TSX:GWO) is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses.  Great-West Lifeco has operations in Canada, the United States, Europe and Asia through The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company, Great-West Life & Annuity Insurance Company and Putnam Investments, LLC.  Great-West Lifeco and its companies have over $493 billion in assets under administration and are members of the Power Financial Corporation group of companies.

Cautionary note regarding Forward-Looking Information
This release contains some forward-looking statements about the Company, including its business operations, strategy and expected financial performance and condition.  Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates" or negative versions thereof and similar expressions.  In addition, any statement that may be made concerning future financial performance (including revenues, earnings or growth rates), ongoing business strategies or prospects, possible future action by the Company including statements made by the Company with respect to the expected benefits of acquisitions or divestitures are also forward-looking statements.  Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about the Company, economic factors and the financial services industry generally, including the insurance and mutual fund industries.  They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Company due to, but not limited to, important factors such as sales levels, premium income, fee income, expense levels, mortality experience, morbidity experience, policy lapse rates and taxes, as well as general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, technological change, changes in government regulations, unexpected judicial or regulatory proceedings, catastrophic events, and the Company's ability to complete strategic transactions and integrate acquisitions.  The reader is cautioned that the foregoing list of important factors is not exhaustive, and there may be other factors, including factors set out under "Risk Management and Control Practices" in the Company's 2010 Annual Management's Discussion and Analysis and any listed in other filings with securities regulators, which are available for review at www.sedar.com.  The reader is also cautioned to consider these and other factors carefully and to not place undue reliance on forward-looking statements.  Other than as specifically required by applicable law, the Company has no intention to update any forward-looking statements whether as a result of new information, future events or otherwise.

Cautionary note regarding Non-IFRS Financial Measures
This release contains some non-IFRS financial measures.  Terms by which non-IFRS financial measures are identified include but are not limited to "operating earnings", "constant currency basis", "premiums and deposits", "sales", and other similar expressions.  Non-IFRS financial measures are used to provide management and investors with additional measures of performance.  However, non-IFRS financial measures do not have standard meanings prescribed by IFRS and are not directly comparable to similar measures used by other companies.  Please refer to the appropriate reconciliations of these non-IFRS financial measures to measures prescribed by IFRS.

Further information

Great-West Lifeco's third quarter conference call and audio webcast will be held Thursday, November 10, 2011 at 3:30 p.m. (ET).  The call and webcast can be accessed through www.greatwestlifeco.com or by phone at:

  • Participants in the Toronto area:  416-340-8018
  • Participants from North America: 1-866-223-7781
  • Participants from Overseas:  Dial international access code first, then 800-6578-9898

A replay of the call will be available from November 10 to 17, 2011, and can be accessed by calling 1-800-408-3053 or 416-695-5800 in Toronto (passcode: 1367585#). The archived webcast will be available on www.greatwestlifeco.com from approximately 7:00 p.m. (ET) on November 10, 2011 until November 9, 2012.

Additional information relating to Lifeco, including the most recent interim unaudited financial statements, interim Management's Discussion and Analysis (MD&A), and CEO/CFO certificates will be filed on SEDAR at www.sedar.com.


FINANCIAL HIGHLIGHTS (unaudited)
(in Canadian $ millions except per share amounts)

  As at or for the three months ended   For the nine months ended
  September 30 June 30 September 30   September 30 September 30
  2011 2011 2010   2011 2010
Premiums and deposits:            
Life insurance, guaranteed annuities and insured health products $ 4,392  $ 4,272  $ 4,313    $ 12,959  $ 13,138 
Self-funded premium equivalents (ASO contracts)       660        664        619         1,994        1,921 
Segregated funds deposits:            
  Individual products       1,975        1,636        1,703         5,516        5,126 
  Group products       1,420        1,427        1,340         4,340        5,405 
Proprietary mutual funds and institutional deposits       5,892        8,289        6,407         23,264        17,987 
Total premiums and deposits       14,339        16,288        14,382         48,073        43,577 
             
Fee and other income       704        739        681         2,163        2,108 
Paid or credited to policyholders       6,826        5,298        7,357         16,703        19,647 
             
Operating earnings - common shareholders       457        526        471          1,398        1,354 
Net earnings - common shareholders       457        526        267          1,398        1,150 
Per common share            
  Operating earnings $ 0.481  $ 0.553  $ 0.497    $ 1.473  $ 1.429 
  Basic earnings       0.481        0.553        0.281         1.473        1.213 
  Dividends paid       0.3075        0.3075        0.3075         0.9225        0.9225 
  Book value       12.49        11.75        11.73       
Return on common shareholders' equity (trailing four quarters*):        
  Operating earnings       16.6%        17.0%  n/a      
  Net earnings       16.6%        15.2%  n/a    
  Total assets $ 237,072  $ 232,159  $ 231,057       
  Proprietary mutual funds and institutional net assets       124,343        130,066        128,777       
  Total assets under management       361,415        362,225        359,834       
  Other assets under administration       131,853        134,822        129,142       
  Total assets under administration $ 493,268  $ 497,047  $ 488,976       
Total equity  $ 15,875  $ 15,115  $ 15,159       

The Company uses operating earnings, a non-IFRS financial measure, which excludes the impact of the provision described in note 25 to the Company's December 31, 2010 consolidated financial statements.

*Return on common shareholders' equity is the trailing four quarter calculation of net earnings divided by common shareholders' equity.  Comparative September 30, 2010 ROE calculations are not presented as IFRS figures are not available for the trailing period, which includes certain periods of 2009 reported solely on a CGAAP basis.

CONSOLIDATED STATEMENTS OF EARNINGS (unaudited)
(in Canadian $ millions except per share amounts)

  For the three months ended   For the nine months ended
  September 30 June 30 September 30   September 30 September 30
  2011 2011 2010   2011 2010
Income            
  Premium income             
    Gross premiums written $ 5,059  $ 4,980  $ 4,956    $ 14,980  $ 15,091 
    Ceded premiums       (667)        (708)        (643)          (2,021)        (1,953) 
  Total net premiums       4,392        4,272        4,313         12,959        13,138 
  Net investment income            
    Regular net investment income       1,330        1,416        1,493          4,173        4,245 
    Changes in fair value through profit or loss       2,080        707        2,629         2,600        5,365 
  Total net investment income       3,410        2,123        4,122         6,773        9,610 
  Fee and other income       704        739        681         2,163        2,108 
        8,506        7,134        9,116         21,895        24,856 
Benefits and expenses            
  Policyholder benefits       3,704        3,690        3,557         11,484        11,305 
  Policyholder dividends and experience refunds       385        377        382         1,115        1,116 
  Change in insurance and investment contract liabilities       2,737        1,231        3,418         4,104        7,226 
  Total paid or credited to policyholders       6,826        5,298        7,357         16,703        19,647 
             
  Commissions       372        390        346         1,139        1,064 
  Operating expenses       605        558        965          1,808        2,214 
  Premium taxes       64        68        71         188        198 
  Financing charges       72        72        71         216        215 
  Amortization of finite life intangible assets       24        25        22         72        69 
Earnings before income taxes       543        723        284         1,769        1,449 
Income taxes       54        161        (1)          284        214 
Net earnings before non-controlling interests       489        562        285          1,485        1,235 
Attributable to non-controlling interests       8        12        (4)         15        21 
Net earnings       481        550        289          1,470        1,214 
Perpetual preferred share dividends       24        24        22         72        64 
Net earnings - common shareholders $ 457  $ 526  $ 267    $ 1,398  $ 1,150 
             
Earnings per common share          
  Basic $ 0.481  $ 0.553  $ 0.281    $ 1.473  $ 1.213 
  Diluted $ 0.478  $ 0.550  $ 0.281    $ 1.461  $ 1.207 
             


CONSOLIDATED BALANCE SHEETS (unaudited)
(in Canadian $ millions)
 
  September 30   December 31   January 1
  2011   2010   2010
Assets          
Cash and cash equivalents $ 1,954    $ 1,840    $ 3,427 
Bonds       79,050         72,203          66,147 
Mortgage loans       17,017         16,115          16,684 
Stocks       6,530         6,700          6,442 
Investment properties       3,236          2,957          2,613 
Loans to policyholders       7,144          6,827          6,957 
        114,931         106,642         102,270 
Funds held by ceding insurers       10,118          9,856         10,984 
Reinsurance assets       2,220          2,533          2,800 
Goodwill       5,403          5,397          5,406 
Intangible assets       3,194          3,108          3,238 
Derivative financial instruments       804          984          717 
Owner occupied properties       472          439          429 
Other assets       4,704          4,482         4,599 
Deferred tax assets       1,173         1,141         1,193 
Segregated funds for the risk of unit holders       94,053         94,827         87,495 
           
Total assets $ 237,072    $ 229,409    $ 219,131 
           
Liabilities          
Insurance contract liabilities $ 114,070    $ 107,367    $ 104,988 
Investment contract liabilities       784          791          841 
Debentures and other debt instruments       4,312          4,288          4,106 
Funds held under reinsurance contracts       177          149          331 
Derivative financial instruments       463         165          251 
Other liabilities       4,862         4,637         4,479 
Deferred tax liabilities       756         755          623 
Repurchase agreements       1,189          1,042         532 
Capital trust securities       531          535          540 
Preferred shares                -         199 
Investment and insurance contracts on account of unit holders       94,053         94,827         87,495 
           
Total liabilities       221,197         214,556         204,385 
           
Equity          
Non-controlling interests          
  Participating account surplus in subsidiaries       2,115         2,050         2,050 
  Preferred shares issued by subsidiaries                -          157 
  Perpetual preferred shares issued by subsidiaries                -          147 
  Non-controlling interests in capital stock                2          2 
Shareholders' equity          
  Share capital          
    Perpetual preferred shares       1,893         1,897         1,497 
    Common shares       5,825         5,802         5,751 
  Accumulated surplus       6,029         5,507         5,071 
  Accumulated other comprehensive income (loss)       (46)         (460)          19 
  Contributed surplus       56          55          52 
Total equity       15,875         14,853         14,746 
           
Total liabilities and equity $ 237,072    $ 229,409    $ 219,131 

Segmented Information

During the year, the Company established a capital allocation model to better measure the performance of the operating segments.  The segmented information below including the comparative figures reflects the impact of the capital allocation model implemented.

Consolidated Net Earnings

For the three months ended September 30, 2011        
    United   Lifeco  
  Canada States Europe Corporate Total
Income:          
  Premium income $ 2,229  $ 952  $ 1,211  $ -  $ 4,392 
  Net investment income          
    Regular net investment income       535        324        465        6        1,330 
    Changes in fair value through profit or loss       824        304        952        -        2,080 
  Total net investment income       1,359        628        1,417        6        3,410 
  Fee and other income       269        296        139        -        704 
Total income       3,857        1,876        2,767        6        8,506 
           
Benefits and expenses:          
  Paid or credited to policyholders       2,950        1,433        2,443        -        6,826 
  Other       579        311        148        3        1,041 
  Financing charges       34        33        5        -        72 
  Amortization of finite life intangible assets       10        11        3        -        24 
           
Earnings before income taxes       284        88        168        3        543 
           
Income taxes       47        11        (5)        1        54 
           
Net earnings before non-controlling interests       237        77        173        2        489 
           
Non-controlling interests       3        -        5        -        8 
           
Net earnings       234        77        168        2        481 
           
Perpetual preferred share dividends       18        -        6        -        24 
           
Net earnings before capital allocation       216        77        162        2        457 
Impact of capital allocation       19        (2)        (14)        (3)        - 
Net earnings - common shareholders $ 235  $ 75  $ 148  $ (1)  $ 457 
               
               
For the three months ended September 30, 2010        
    United   Lifeco  
  Canada States Europe Corporate Total
Income:          
  Premium income $ 2,299  $ 815  $ 1,199  $ -  $ 4,313 
  Net investment income          
    Regular net investment income       670        339        481        3        1,493 
    Changes in fair value through profit or loss       1,121        353        1,155        -        2,629 
  Total net investment income       1,791        692        1,636        3        4,122 
  Fee and other income       251        311        119        -        681 
Total income       4,341        1,818        2,954        3        9,116 
           
Benefits and expenses:          
  Paid or credited to policyholders       3,403        1,335        2,619        -        7,357 
  Other       662        326        120        274        1,382 
  Financing charges       34        34        3        -        71 
  Amortization of finite life intangible assets       10        10        2        -        22 
           
Earnings before income taxes       232        113        210        (271)        284 
           
Income taxes       (8)        25        49        (67)        (1) 
           
Net earnings before non-controlling interests       240        88        161        (204)        285 
           
Non-controlling interests       (6)        -        2        -        (4) 
           
Net earnings       246        88        159        (204)        289 
           
Perpetual preferred share dividends       19        -        3        -        22 
           
Net earnings before capital allocation       227        88        156        (204)        267 
Impact of capital allocation       22        (1)        (18)        (3)        - 
Net earnings - common shareholders $ 249  $ 87  $ 138  $ (207)  $ 267 
               
               
For the nine months ended September 30, 2011        
    United   Lifeco  
  Canada States Europe Corporate Total
Income:          
  Premium income $ 6,861  $ 2,306  $ 3,792  $ -  $ 12,959 
  Net investment income          
    Regular net investment income       1,769        980        1,412        12        4,173 
    Changes in fair value through profit or loss       1,075        461        1,064        -        2,600 
  Total net investment income       2,844        1,441        2,476        12        6,773 
  Fee and other income       822        928        413        -        2,163 
Total income       10,527        4,675        6,681        12        21,895 
           
Benefits and expenses:          
  Paid or credited to policyholders       7,716        3,273        5,714        -        16,703 
  Other       1,792        897        429        17        3,135 
  Financing charges       102        100        14        -        216 
  Amortization of finite life intangible assets       31        34        7        -        72 
           
Earnings before income taxes       886        371        517        (5)        1,769 
           
Income taxes       138        75        70        1        284 
           
Net earnings before non-controlling interests       748        296        447        (6)        1,485 
           
Non-controlling interests       9        -        6        -        15 
           
Net earnings       739        296        441        (6)        1,470 
           
Perpetual preferred share dividends       55        -        17        -        72 
           
Net earnings before capital allocation       684        296        424        (6)        1,398 
Impact of capital allocation       58        (5)        (43)        (10)        - 
Net earnings - common shareholders $ 742  $ 291  $ 381  $ (16)  $ 1,398 
               
               
For the nine months ended September 30, 2010        
    United   Lifeco  
  Canada States Europe Corporate Total
Income:          
  Premium income $ 6,795  $ 2,316  $ 4,027  $ -  $ 13,138 
  Net investment income          
    Regular net investment income       1,845        997        1,395        8        4,245 
    Changes in fair value through profit or loss       1,743        1,052        2,570        -        5,365 
  Total net investment income       3,588        2,049        3,965        8        9,610 
  Fee and other income       762        935        411        -        2,108 
Total income       11,145        5,300        8,403        8        24,856 
           
Benefits and expenses:          
  Paid or credited to policyholders       8,363        3,875        7,409        -        19,647 
  Other       1,787        1,007        406        276        3,476 
  Financing charges       101        104        10        -        215 
  Amortization of finite life intangible assets       29        35        5        -        69 
           
Earnings before income taxes       865        279        573        (268)        1,449 
           
Income taxes       124        62        92        (64)        214 
           
Net earnings before non-controlling interests       741        217        481        (204)        1,235 
           
Non-controlling interests       14        3        4        -        21 
           
Net earnings       727        214        477        (204)        1,214 
           
Perpetual preferred share dividends       54        -        10        -        64 
           
Net earnings before capital allocation       673        214        467        (204)        1,150 
Impact of capital allocation       65        (1)        (54)        (10)        - 
Net earnings - common shareholders $ 738  $ 213  $ 413  $ (214)  $ 1,150 

 

 

 

 

 

 

 

 

 

 

SOURCE Great-West Lifeco Inc.

For further information:

Marlene Klassen, APR
Assistant Vice-President, Communication Services
(204) 946-7705


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.