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Great-West Lifeco reports jump in profits, declares new dividend

Great-West Lifeco world headquarters in Winnipeg, February, 2013. The multinational insurance company said Wednesday its profits climbed 7 per cent in its latest quarter.

JOHN WOODS/THE CANADIAN PRESS

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.

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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.

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