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Great-West Lifeco releases updated Supplemental Information Package template reflecting IFRS 17 and IFRS 9 adoption

CNW Group
·1 min read

TSX: GWO

WINNIPEG, MB, May 1, 2023 /CNW/ - Great-West Lifeco (GWO) has released an updated template for its Supplemental Information Package (SIP) for analysts and investors. The SIP has been reformatted to align with changes related to the adoption of IFRS 17, Insurance Contracts  and IFRS 9, Financial Instruments which became effective January 1, 2023.

The template also incorporates a presentation of base earnings by three value drivers – Workplace Solutions, Wealth & Asset Management and Insurance & Risk Solutions. This presentation will supplement the current presentation by operating segment and help users better understand and analyze base earnings and other key performance indicators at the consolidated Company level.

The updated SIP and a summary of the key changes are available at Great-West Lifeco – Investor relations – Financial reports.

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Great-West Lifeco will release its first quarter financial results under the adoption of IFRS 17 and IFRS 9 on May 9, 2023 after markets close.

About Great-West Lifeco Inc.

Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. We operate in Canada, the United States and Europe under the brands Canada Life, Empower, Putnam Investments, and Irish Life.  At the end of 2022, our companies had approximately 31,000 employees, 234,500 advisor relationships, and thousands of distribution partners – all serving our more than 38 million customer relationships across these regions. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO and is a member of the Power Corporation group of companies. To learn more, visit greatwestlifeco.com.

SOURCE Great-West Lifeco Inc.

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View original content: http://www.newswire.ca/en/releases/archive/May2023/01/c0393.html