Great-West Lifeco Inc. said Wednesday its profits climbed 7 per cent in its latest quarter.
The insurance company earned $521-million, or 54 cents per common share, for the period ended June 30, up from $488-million, or 41 cents per common share a year ago.
Total net premiums and deposits for the quarter were $14.9-million, up from $13.1-billion.
Meanwhile, total net investment income fell to $1.7-billion from $2.5-billion year over year.
Also on Wednesday, the company approved a quarterly dividend of 30 cents per common share payable Sept. 30 to shareholders of record by the end of close on Aug. 30.
Great-West has operations in Canada, the United States, Europe and Asia under the Great-West Life Assurance, London Life Insurance, Irish Life, Canada Life Assurance, Great-West Life and Annuity Insurance and Putnam Investments banners.