Great-West Lifeco Inc. GWO-T says it earned $859-million in the third quarter, down from $905-million a year earlier.
The insurer says base earnings, or adjusted earnings, for the quarter totalled $1.06-billion, up from $950-million during the third quarter of 2023.
The company says it hit record base earnings for the fifth consecutive quarter.
Net earnings per basic share were 92 cents, down from 97 cents during the same quarter last year.
Great-West Lifeco says its wealth and retirement businesses continued to drive growth across the company, with its total Lifeco assets under administration exceeding $3-trillion for the first time.
The company reported a base return on equity of 17.3 per cent, up from 16.4 per cent last year.
