Canada Life Re, comprised predominantly by the Capital and Risk Solutions division, has reported “record” $794 million in earnings for 2023, as its parent company, Great-West Lifeco, sees strong earnings of $3.7 billion for the year.
For the fourth quarter of 2023, the Capital and Risk Solutions division base earnings grew by 30%, to $236 million from $181 million in Q4 2022.
This was primarily due to growth in the structured business and net positive insurance experience from favourable claim developments on prior years’ property catastrophe losses.
These items were partially offset…
