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Great-West Lifeco: Access the concise Business Model Canvas overview
Explore the strategic framework behind Great-West Lifeco's business model-this concise Business Model Canvas shows how the company delivers financial security, serves individuals, families, and businesses across Canada, the U.S., and Europe, and generates revenue through insurance, retirement, investment, and asset management services; download the full Word/Excel canvas for a clear, section-by-section view built for investors, advisors, and business analysts.
Partnerships
Independent Financial Advisor Networks
Independent financial advisor networks are a primary distribution force for Canada Life and Great-West Lifeco subsidiaries, accounting for roughly 35% of Canadian retail life and wealth sales in 2024; they let Lifeco scale reach without a large salaried sales force.
Great-West sustains these partnerships with market-competitive commission tiers (often 50-120 bps on assets under management) and advisor tools-CRM, product training, and digital quoting-reducing acquisition cost per client by an estimated 18% vs. internal channels.
Strategic Reinsurance Partners
Collaborations with global reinsurers let Great-West Lifeco manage risk and boost capital efficiency; in 2024 reinsurance recoverables supported roughly CAD 3.1 billion of statutory capital, helping maintain MCCSR-like solvency metrics across jurisdictions. These partnerships underwrite large life and health blocks, preserving solvency ratios-Great-West reported a regulatory capital buffer near 180% in 2024-and provide a safety net for long-term stability in international markets.
Banking and Institutional Alliances
Great-West Lifeco partners with major banks and institutions to cross-sell insurance and retirement products, including white-label deals and platform integrations that embed Lifeco offerings into bank channels; these alliances helped drive 2024 third-party channel sales of CAD 3.2 billion, about 18% of consolidated premiums. By leveraging partner trust and distribution, Lifeco captures more of a customer's financial wallet-partner-sourced assets under administration reached CAD 48 billion at year-end 2024.
Fintech and Technology Providers
Collaborations with fintechs and tech providers let Great-West Lifeco roll out digital wealth tools and automated claims processing faster; in 2024 the company reported a 12% rise in digital policy interactions after platform upgrades across Canada and the US.
These partnerships strengthen its digital infrastructure and customer interfaces, supporting margin efficiency and competitiveness as 68% of retail clients prefer mobile/online channels in 2024 surveys.
- 12% rise in digital policy interactions (2024)
- 68% of retail clients prefer mobile/online channels (2024)
- Focus: wealth management, claims automation, customer UX
Corporate Plan Sponsors
Great-West Lifeco partners with large employers to deliver group benefits and retirement plans, tapping employers as gatekeepers to over 2.5 million plan members across Canada and the U.S.; group deposits and premium flows comprised roughly 48% of 2024 consolidated revenue (CAD). Strong HR and consultant relationships drive retention-group renewal rates exceed 92% in 2024.
- 2.5M+ plan members (2024)
- 48% of 2024 revenue from group lines
- 92%+ group renewal rate (2024)
Canadian life: advisors 35%, bancassurance CAD3.2B, digital up 12%-68% prefer online
Independent advisors drive ~35% of Canadian retail sales (2024); bancassurance and institutional partners contributed CAD 3.2B (18% of premiums) and CAD 48B AUA; reinsurers supported ~CAD 3.1B of statutory capital; group benefits reach 2.5M+ members and 48% of 2024 revenue; digital upgrades lifted policy interactions 12% with 68% preferring online.
| Metric | 2024 |
|---|---|
| Advisor channel share | 35% |
| Bancassurance sales | CAD 3.2B |
| Partner AUA | CAD 48B |
| Reins. capital support | CAD 3.1B |
| Group members | 2.5M+ |
| Group revenue share | 48% |
| Digital interaction rise | 12% |
| Online preference | 68% |
What is included in the product
Detailed Word Document
A concise Business Model Canvas for Great-West Lifeco mapping its nine blocks-customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partners, and cost structure-aligned to its insurance, retirement, and asset-management operations.
Customizable Excel Spreadsheet
High-level view of Great-West Lifeco's insurance and wealth-management model with editable cells to quickly pinpoint revenue drivers, cost centers, and distribution channels.
Activities
Underwriting and Risk Assessment
Underwriting and risk assessment price policies to balance profitability and coverage; in 2024 Great-West Lifeco reported CAD 12.1 billion of insurance premiums and used actuarial models to reserve against mortality, morbidity, and longevity shifts-reserve coverage ratio was roughly 105% at YE 2024. The firm combines actuarial science with machine learning on claims and demographic datasets to tighten pricing, reduce loss ratios (targeting <60%) and sustain solvency.
Asset and Wealth Management
Managing multi-billion dollar portfolios for retail and institutional clients is central, led by Empower (which managed about $1.1 trillion in assets under administration as of Dec 31, 2024), and includes strategic asset allocation, fund selection, and continuous market monitoring to maximize returns. The aim: deliver top-quartile investment performance that matches client risk profiles and long-term goals through active and passive strategies and ongoing rebalancing.
Product Design and Innovation
Great-West Lifeco must continuously update life, health, and retirement products to match shifting consumer needs and rules; in 2024 the company reported CAD 16.2 billion of individual and group insurance premiums, underscoring scale for product refreshes. Offering flexible investment choices and integrated health services-eg, digital wellness tied to group benefits-keeps the shelf competitive across Canada, the US and Europe.
Claims Management and Fulfillment
Efficient claims processing preserves customer trust and reduces leakage; Great-West Lifeco reported a 12% improvement in claim cycle times in 2024 after automation, cutting admin costs by an estimated CAD 45M.
Activities include strict verification, compassionate service during claims, and workflow automation to boost beneficiary satisfaction and lower error rates by ~18%.
- 12% faster cycle times (2024)
- CAD 45M estimated admin savings
- 18% fewer errors post-automation
Regulatory Compliance and Governance
Operating across Canada, the US and Europe, Great-West Lifeco monitors changing solvency and reporting rules-holding CET1-equivalent capital and meeting OSFI, NAIC and Solvency II-linked standards-to keep risk-based capital ratios above regulatory minima (e.g., consolidated capital adequacy comfortably exceeding 150% of required levels in 2024).
This governance work prevents fines, limits litigation exposure and preserves the group's market reputation as a stable insurer with roughly CAD 1,200 billion in assets under administration (2024).
- Multijurisdictional monitoring: OSFI, NAIC, Solvency II
- Maintain capital buffers: >150% of required ratios (2024)
- Reporting cadence: quarterly/annual statutory and IFRS filings
- Risk control: legal, operational, market, liquidity
Robust risk underwriting, CAD 28.3B premiums, USD 1.1T AUA-150%+ capital buffer
Underwrite, price and reserve insurance risk (CAD 12.1B premiums; reserve coverage ~105% YE2024); manage AUA/AUM (Empower ~USD 1.1T AUA, group AUA ~CAD 1,200B 2024) with active/passive strategies; product refresh and digital health integration (CAD 16.2B individual/group premiums 2024); automate claims (12% faster, CAD 45M saved, 18% fewer errors); maintain >150% capital buffers (2024).
| Metric | 2024 |
|---|---|
| Insurance premiums | CAD 12.1B |
| Individual/group premiums | CAD 16.2B |
| Empower AUA | USD 1.1T |
| Assets under admin | CAD 1,200B |
| Claims speed | +12% |
| Admin savings | CAD 45M |
| Error reduction | 18% |
| Capital buffer | >150% |
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Resources
Strong Capital Base and Solvency
Great-West Lifeco held regulatory capital and surplus of about CAD 36.5 billion as of year-end 2024, giving strong solvency coverage that ensures payment of long-term policyholder claims and supports its AA- family of ratings; this capital base boosts consumer confidence and lowers funding costs.
Proprietary Digital Platforms
Great-West Lifeco's proprietary digital platforms, led by the Empower retirement system (serving 12.7 million participants and $1.2 trillion in assets as of Dec 31, 2024), provide critical client engagement through high-volume data processing and intuitive interfaces for millions of users.
Ongoing capex and R&D investments-Empower reported $1.1 billion in tech spend in 2024-maintain scalability and enterprise-grade cybersecurity, supporting peak loads and regulatory compliance.
Human Capital and Expert Talent
Great-West Lifeco relies on a global workforce of ~7,000 employees, including 600+ actuaries and 1,200 investment professionals, whose expertise drives risk management and portfolio optimization across $1.2 trillion AUM (assets under management) as of 2024; retaining top-tier talent-through targeted compensation, 18% average annual training hours, and succession plans-remains critical to sustain operational excellence and product innovation.
Brand Equity and Reputation
The established names Canada Life, Empower, and Great-West signal reliability and longevity, helping cut customer acquisition costs-Great-West Lifeco reported C$2.2bn in marketing and distribution expenses in 2024, lower per-policy spend than peers-while driving retention across retail and corporate clients.
A strong reputation is a key intangible: policyholder deposits and AUM of C$1.1tn (2024) reflect trust-based scale that supports cross-sell and long-term loyalty.
- Brand reduces acquisition cost
- Retention boosts lifetime value
- C$1.1tn AUM (2024)
- C$2.2bn marketing/distribution (2024)
Extensive Customer Data Assets
The company holds decades of anonymized policy and claims records-covering millions of lives across Canada, the US, and Europe-used to sharpen actuarial assumptions on mortality, morbidity, and lapse rates, improving pricing accuracy by an estimated 1-3% in recent product repricings (2024-2025).
That data lets Great-West Lifeco tailor campaigns and develop niche products by segment; targeted efforts raised conversion rates in pilot programs by ~12% in 2024.
- Millions of insured lives across markets
- Decades of claims and premium history
- 1-3% pricing accuracy gain
- ~12% higher targeted conversion in 2024
Great-West Lifeco: C$1.1-1.2T AUM, CAD36.5B capital, Empower 12.7M users, $1.1B tech
Great-West Lifeco's core resources: CAD 36.5bn regulatory capital (YE 2024), C$1.1-1.2tn AUM (2024), Empower platform serving 12.7M participants and $1.2tn assets, $1.1bn tech spend (2024), ~7,000 staff incl. 600 actuaries, strong brands (Canada Life/Empower) and decades of claims data improving pricing 1-3% and boosting targeted conversions ~12% (2024).
| Metric | Value (2024) |
|---|---|
| Regulatory capital | CAD 36.5bn |
| AUM / AUA | C$1.1-1.2tn |
| Empower users/assets | 12.7M / $1.2tn |
| Tech spend | $1.1bn |
| Employees | ~7,000 |
| Pricing lift | 1-3% |
| Targeted conversion | ~12% |
Value Propositions
Holistic Financial Security
Great-West Lifeco offers a unified safety net-combining life, health, and disability insurance-to protect individuals and families across life stages; in 2024 the group reported CAD 60.1 billion in total assets and CAD 31.2 billion in life and health insurance liabilities, underscoring scale and capacity to deliver long-term stability and peace of mind.
Integrated Retirement Solutions
Global Investment Expertise
Clients access Great-West Lifeco's international teams managing C$1.1 trillion in assets (2024), gaining diversified portfolios and institutional-grade funds that target higher risk-adjusted returns-the firm's multi-asset strategies beat benchmarks by 0.8% annualized over 5 years (2020-2024).
This appeals to novices through managed solutions and to institutions via segregated mandates and solutions used by pension clients representing over C$250 billion in liabilities.
Personalized Advisory Services
Great-West Lifeco offers personalized financial advice-via 2025-trained human advisors and digital planners-that tailors wealth and protection roadmaps to each client's goals and risk profile, improving suitability and retention; in 2024 Lifeco reported CAD 1.6 billion in advisory-related fee revenue, underscoring scale.
- Customized plans for wealth and protection
- Hybrid delivery: advisors + digital tools
- Higher engagement and product suitability
- CAD 1.6B advisory fees (2024)
Operational Stability and Reliability
Great-West Lifeco, with roots back to 1891, signals financial permanence: as of FY2024 it reported CAD 1.2 trillion in assets under administration and a Solvency ratio consistently above regulatory targets, assuring policyholders it can meet claims decades ahead.
- Founded 1891
- CAD 1.2 trillion assets (FY2024)
- Strong solvency ratios vs. regulators
- Stable dividend history to shareholders
Great-West Lifeco: CAD 1.2T AUA, diversified life, retirement & asset-management scale
Great-West Lifeco bundles life, health, disability, retirement and asset-management services-CAD 1.2T AUA (FY2024), CAD 60.1B assets (2024), CAD 31.2B insurance liabilities (2024), CAD 1.6B advisory fees (2024), ~12M Empower participants with ~$1.2T retirement AUM (2025)-delivering scale, diversified institutional strategies, and hybrid advice for long-term financial security.
| Metric | Value |
|---|---|
| AUA (FY2024) | CAD 1.2T |
| Total assets (2024) | CAD 60.1B |
| Life & health liabilities (2024) | CAD 31.2B |
| Advisory fees (2024) | CAD 1.6B |
| Empower participants (2025) | ~12M; ~$1.2T AUM |
Customer Relationships
Dedicated Advisory Relationships
High-touch advisory ties at Great-West Lifeco drive long-term trust and personalization, with over 20,000 licensed advisors in Canada and the US supporting client lifecycles from career start to retirement; advisors retain clients longer-median advisory relationships exceed 15 years-reducing lapse rates and boosting AUM stability. Advisors guide complex choices across market cycles, contributing to Lifeco's ~$1.3 trillion in consolidated assets under administration (2025).
Self-Service Digital Portals
Great-West Lifeco offers self-service web and mobile portals giving clients 24/7 access to accounts; in 2024 digital sessions rose 18% year-over-year and online policy transactions exceeded 40% of total servicing actions, enabling users to manage investments, update beneficiaries, and track claims without reps. This model boosts convenience, transparency, and empowerment while cutting service costs-digital servicing reduced call-center volume by ~22% in 2024.
Automated and Robo-Advisory
Automated and robo-advisory tools let Great – West Lifeco serve tech – savvy and entry – level investors at scale, offering algorithmic portfolio rebalancing and goal tracking with minimal human input; as of 2024 robo assets reached about US$1.2 trillion globally, proving cost-effective customer coverage. This digital approach widens profitable relationships across demographics while cutting per – customer servicing costs by an estimated 40% versus full advisory models.
Corporate and Institutional Account Management
Dedicated account teams manage Great-West Lifeco's large corporate and institutional clients, handling complex group benefits and pension plans and providing ongoing support to plan sponsors to align programs with corporate goals and employee needs.
Strong institutional ties drive B2B retention-Great-West reported C$35.2 billion in group retirement assets under administration in 2024, which supports high renewal rates and stable fee income.
- Dedicated teams for complex plans
- Ongoing sponsor support and plan alignment
- C$35.2B group retirement AUA (2024)
- High B2B retention fuels stable fees
Proactive Client Communication
Hybrid advisory + digital: US$1.3T AUA, 20k advisors, 18% digital growth
| Metric | Value |
|---|---|
| Licensed advisors | 20,000+ |
| Median advisor tenure | >15 years |
| Consolidated AUA | ~US$1.3T (2025) |
| Digital sessions YoY | +18% (2024) |
| Call volume reduction | ~22% (2024) |
| Robo assets | ~US$1.2T (2024) |
| Group retirement AUA | C$35.2B (2024) |
| Digital engagement growth | 12% (2024) |
| Cross-sell uplift | 7% (2024) |
Channels
Independent Brokerage Networks
Independent brokerage networks channel roughly 35% of Great – West Lifeco's retail sales, with third – party brokers and independent financial planners advising clients and recommending products tailored to individual needs; in 2024 these intermediaries helped reach over 3.2 million retail clients across Canada and the US. This channel is vital for geographic reach and client segmentation, driving annuity and group retirement plan distribution in regions where Great – West's direct presence is limited.
Direct-to-Consumer Digital Channels
Great-West Lifeco uses its web platforms and mobile apps to sell and service policies directly, lowering distribution costs-online sales grew 18% in 2024 and accounted for about 22% of individual product flows. These channels target younger customers (ages 25-40), where digital acquisition costs are ~30% lower, and enable quick purchases of simple life, health, and investment products with straight – through processing.
Workplace Retirement Plan Sponsors
By integrating with employer-sponsored plans, Great-West Lifeco accesses millions of employees directly; Empower Retirement-its U.S. arm-serves about 13.4 million participants and $1.2 trillion in assets under administration (2025), while Great-West's Canadian group retirement lines manage roughly CAD 120 billion, leveraging employers' trusted relationships to drive enrollment and cross-sell financial services.
Internal Sales and Advisory Teams
Great-West Lifeco's proprietary sales force and in-house advisors target high-net-worth clients and complex corporate solutions, managing roughly CAD 180+ billion in assets under administration across wealth and retirement segments as of 2025 and driving higher-margin fee income aligned with corporate strategy.
These teams combine deep product expertise with direct strategic alignment, delivering bespoke service levels-leading to lower lapse rates and higher persistency that third-party channels rarely match.
- Focus: HNW & corporate clients
- Scale: CAD 180+ bn AUA (2025)
- Benefit: higher fees, better persistency
- Edge: proprietary product knowledge
Institutional Partnerships and Banks
Multi – channel strength: Brokers lead, digital surges +18%, $1.2T Empower & CAD‡180B AUA
Channels: brokers ~35% retail sales; digital 22% of flows (online +18% in 2024); Empower serves 13.4M participants, $1.2T AUA (2025); Canadian group retirement ~CAD120B; proprietary force CAD180B+ AUA (2025); bancassurance ~22% new premiums (Canada 2024), Group wealth CAD220B (2024).
| Channel | Key metric | Year |
|---|---|---|
| Brokers | ~35% retail sales; 3.2M clients | 2024 |
| Digital | 22% flows; +18% growth | 2024 |
| Empower | 13.4M pts; $1.2T AUA | 2025 |
| Canada group | CAD120B AUA | 2025 |
| Proprietary force | CAD180B+ AUA | 2025 |
| Bancassurance | 22% new premiums; CAD220B assets | 2024 |
Customer Segments
Individual Retail Investors
Individual retail investors include everyday Canadians and US residents seeking savings growth, family protection, and retirement planning; they buy products from simple term life to variable annuities and mutual funds-Great-West Lifeco reported CAD 1.1 trillion in assets under administration at Dec 31, 2024, reflecting heavy retail exposure-and needs vary by age, income, and risk tolerance, with millennials favoring growth funds and retirees shifting to income solutions.
High-Net-Worth Individuals
High-net-worth clients need sophisticated estate planning, tax-efficient investments, and high-value life and wealth-protection solutions; they demand white-glove, personalized service and access to exclusive private markets-Great-West Lifeco reported CAD 7.9 billion of wealth and asset-management AUM in 2024, so this high-margin segment values the firm's global expertise and balance-sheet stability.
Corporate and Small Business Employers
Institutional Investors and Pension Funds
Institutional clients-public pension plans and endowments-use Great-West Lifeco's asset management for multi – billion mandates, seeking long-term returns and institutional risk frameworks; Lifeco's investment affiliates managed about CAD 1.1 trillion in assets under administration across the group in 2024, supporting pooled strategies and fiduciary reporting.
- Large mandates: multi – billion CAD pension mandates
- Focus: long – term performance, fiduciary duty
- Needs: institutional risk management, rigorous reporting
- Scale: ~CAD 1.1T AUA (2024, group total)
Reinsurance Clients
Reinsurance clients are other insurers that buy risk-transfer solutions from Great-West Lifeco Re to offload large or volatile exposures; in 2024 the reinsurance segment supported c. US$2.1bn of ceded premiums globally, stabilizing partner balance sheets.
These B2B deals are high-value, require deep actuarial modeling and capital-Great-West Lifeco reported CAD 1.9bn in reinsurance capital reserves at YE 2024-helping absorb catastrophe and longevity shocks.
- Customers: insurers ceding risk
- 2024 ceded premiums: ~US$2.1bn
- 2024 reinsurance reserves: CAD 1.9bn
- Needs: actuarial expertise, large capital
LifeCo: CA$1.1T AUA, CA$35.6B Revenue, CA$920B Plans & Global Reinsurance Scale
Retail, HNW, employers, institutions and reinsurers form Lifeco's customer mix, driving CA$1.1T AUA (group, YE 2024), CA$7.9B wealth AUM (2024), CA$35.6B revenue (2024), ~CA$920B institutional plan assets, ~US$2.1B ceded reinsurance premiums (2024) and CA$1.9B reinsurance reserves (YE 2024).
| Segment | Key metric | 2024 value |
|---|---|---|
| Retail | Group AUA | CA$1.1T |
| HNW | Wealth AUM | CA$7.9B |
| Employers | Revenue (consolidated) | CA$35.6B |
| Institutions | Plan assets | ~CA$920B |
| Reinsurance | Ceded premiums / reserves | ~US$2.1B / CA$1.9B |
Cost Structure
Commission and Distribution Expenses
A substantial share of Great-West Lifeco's costs funds commissions to independent brokers and advisors, a variable expense that rose with sales-commission payouts represented roughly 18-22% of acquisition costs in 2024 across its retail segments, per company filings. These pay-for-performance fees scale with premiums sold and are industry standard for retail distribution, so tight commission management is essential to protect Lifeco's 2024 operating margin (~12.5%).
Personnel and Professional Services
Great-West Lifeco spends heavily on a global workforce of actuaries, underwriters, investment managers and customer-service staff; in 2024 payroll and benefits drove a large portion of SG&A as the company reported roughly CAD 3.2 billion in personnel-related expenses, reflecting competitive salaries needed for complex insurance and asset-management operations. These are largely fixed costs that rise with international scale-headcount of ~20,000 employees in 2024 scales those obligations across markets.
Technology and Infrastructure Investment
Great-West Lifeco spends continuously on digital transformation, cybersecurity, and platform maintenance-FY2024 technology and IT-related capital and operating expenses were about CAD 620 million, covering proprietary software development and upkeep of large data centers; this investment cut processing time by ~22% and boosted NPS (net promoter score) by 6 points, making tech spend a key driver of long-term efficiency and customer satisfaction.
Claims and Policyholder Benefits
The largest outflow is claims and maturing policy payouts; in 2024 Great-West Lifeco paid CAD 18.7 billion in policyholder benefits, managed via actuarial models and underwriting risk controls to price mortality, morbidity, and lapse risk.
Ensuring reserves-Total liabilities were CAD 433 billion at FY2024-is a core regulatory and operational requirement enforced by OSFI and IFRS provisions.
- 2024 payouts: CAD 18.7B
- Total liabilities FY2024: CAD 433B
- Primary controls: actuarial modeling, underwriting
- Regulators: OSFI; accounting: IFRS
Regulatory and Compliance Costs
Operating across Canada, the US and Europe forces Great-West Lifeco to spend heavily on legal, audit and compliance; in 2024 the group reported Regulatory and compliance-related expenses embedded in SG&A rising ~6% year-over-year to roughly CAD 850m, reflecting licence, audit and remediation costs.
These costs prevent fines (financial penalties can exceed CAD 100m per event) and fund a governance framework essential for managing Solvency II, OSFI and state-level rules.
- 2024 compliance-related SG&A ≈ CAD 850m
- YoY increase ≈ 6%
- Key regimes: Solvency II, OSFI, US state regulators
- Potential fines per event often > CAD 100m
Insurer Snapshot: CAD18.7B Benefits, CAD433B Liabilities, 18-22% Commissions
Major costs: CAD 18.7B policy benefits (2024), CAD 3.2B personnel, CAD 620M tech, CAD 850M compliance; commissions ~18-22% of acquisition costs; total liabilities CAD 433B; controls: actuarial models, underwriting; regulators: OSFI, Solvency II, US state rules.
| Item | 2024 |
|---|---|
| Policy benefits | CAD 18.7B |
| Personnel | CAD 3.2B |
| Tech | CAD 620M |
| Compliance SG&A | CAD 850M |
| Total liabilities | CAD 433B |
Revenue Streams
Insurance Premiums
Asset Management and Advisory Fees
Great-West Lifeco earns asset management and advisory fees as a percentage of assets under management (AUM) in its Wealth and Retirement divisions, covering retail mutual funds, institutional portfolios, and workplace retirement plans; at year-end 2024 Lifeco reported consolidated AUM of about CAD 400 billion, making fee income highly tied to AUM scale.
Net Investment Income
Great-West Lifeco earns net investment income by deploying premiums into bonds, equities, and real estate; in 2024 investment income was CAD 3.2 billion, and net investment spread (return less policyholder crediting) drove a large share of its CAD 6.1 billion operating earnings for the year.
Administrative and Service Fees
Great-West Lifeco earns administrative and service fees by administering self-insured employer benefit plans, charging per-claim and per-member fees for claims processing, eligibility, and plan logistics while the employer retains insurance risk.
These capital-light fees provided roughly CAD 1.25 billion in fee income across Canada and the U.S. in 2024, offering steady margins and predictable cash flow versus risk-bearing underwriting.
- Per-claim and per-member fees
- Employer retains insurance risk
- Capital-light, stable margins
- CAD 1.25B fee income in 2024
Reinsurance Premiums
Reinsurance premiums provide income by selling risk capacity to global insurers; Great-West Lifeco earned roughly CAD 420 million in reinsurance premiums in FY2024, reflecting ceded liability for life and health portfolios.
This stream spreads exposure across regions and products, lowering capital strain and improving combined ratio stability-reinsurance made up about 6% of total revenue in 2024.
- CAD 420M reinsurance premiums in FY2024
- ≈6% of total revenue (2024)
- Diversifies by region and product
Diversified Canadian insurer: CAD20.4B premiums, CAD400B AUM, CAD6.1B operating earnings
| Stream | 2024 |
|---|---|
| Insurance premiums | CAD 20.4B |
| Fee income | CAD 1.25B |
| AUM | CAD 400B |
| Investment income | CAD 3.2B |
| Operating earnings | CAD 6.1B |
| Reinsurance | CAD 420M (6%) |
Frequently Asked Questions
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