Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance

Great-West Reports Higher 1st Quarter Net Income

Your article was successfully shared with the contacts you provided.

NU Online News Service, May 1, 2003, 5:08 p.m. EDT – Great-West Lifeco Inc., Winnipeg, is reporting the equivalent of $172 million in net income for the first quarter on $4.5 billion in premiums and deposits, compared with $139 million in net income on $4.7 billion in premiums and deposits for the first quarter of 2002.

In the United States, Great-West sells health coverage and money-management services.

Premium and deposit revenue fell 16% for the U.S. unit because of a drop in health plan membership and the effects of the stock market slump on the money-management business.

The conversions here are based on an exchange rate of 1 Canadian dollar=67.967 U.S. cents for the 2003 results, and an exchange rate of 1 Canadian dollar=62.708 U.S. cents for the 2002 results, using figures published by OANDA Corp., New York.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.