Loading…
Canadian insurance holding company selling life, health and wealth/retirement products in Canada, the US and Europe.
Canadian insurance holding company selling life, health and wealth/retirement products in Canada, the US and Europe.
Earns premiums on the insurance it writes plus fees on retirement and investment assets it administers, and Power Corporation of Canada controls it. In the US it exited individual life and annuities in 2019 and later sold Putnam Investments, to concentrate on Empower, the retirement-plan business that grew by buying MassMutual's retirement unit in 2020.
In one line: A Canadian peer to MetLife/Prudential..
Moat: narrow (scale, brand, distribution). Long-established brands (Canada Life, Empower) with entrenched broker/advisor distribution and large in-force books.
Headquarters: Winnipeg, Canada · Founded: 1891 · Employees: 33,430
Size Great-West Lifeco (GWO.TO) is a Canada Financials company (Multi-Line Insurance) with a market value of $57.4B, the 20th largest of 420 Canada companies the cockpit tracks. Shares closed at C$90.17 on 6 Nov 2026.
Performance Over six months the shares gained 18.1%, against +14.9% for the median peer and +5.2% for the Canada market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 4.3% over the last twelve months (peer median +11.1%); the operating margin is 48.0% (peer median 17.3%).
Valuation It trades at 3.02× book value against a peer median of 1.90× (2nd most expensive of 21).
Price implies The share price implies a return on equity of about 15.7%; Great-West Lifeco delivers 16.0%, so the price asks less than the business earns today.
Credit Great-West Lifeco has 3 bonds outstanding ($1.67B), rated A+ by the agencies and trading like A at a weighted spread of 99 bp.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$48.6B | C$49.2B | C$46.8B | C$42.1B | C$20.2B |
| Revenue growth | — | +5% | +11% | +108% | — |
| Net income | C$4.63B | C$4.12B | C$4.03B | C$2.99B | C$3.76B |
| Free cash flow | C$4.22B | C$2.71B | C$4.75B | C$5.20B | C$3.77B |
| Capital expenditure | C$0 | C$0 | C$0 | C$0 | C$0 |
| Total debt | C$10.5B | C$11.0B | C$11.8B | C$11.2B | C$12.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Great-West Lifeco GWO.TO | $57.4B | +18% | +4% | 16% | 3.02× | 15.7% |
| Manulife Financial MFC.TO | $72.2B | +13% | +18% | 13% | 2.22× | 13.0% |
| Sun Life Financial SLF.TO | $40.1B | +7% | -1% | 13% | 2.38× | 13.7% |
| MetLife MET | $62.4B | +27% | +9% | 13% | 2.28× | 16.2% |
| Prudential Financial PRU | $41.1B | +20% | +4% | 13% | 1.39× | 11.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GWO.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.0% | +3.9% | 9th lowest of 21 |
| 6-month return | +18.1% | +14.9% | 7th highest of 21 |
| Return on equity | 16.0% | 16.9% | 8th lowest of 21 |
| Price / book | 3.02× | 1.90× | 2nd most expensive of 21 |
| Trailing P/E | 18.6× | 11.3× | 4th most expensive of 21 |
| ROE the price implies | 15.7% | 10.9% | 6th most demanding of 21 |
| ROE delivered | 16.0% | 16.9% | 9th lowest of 21 |
| Bond spread | 99 bp | 79 bp | 2nd widest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Great-West Lifeco GWO.TO | Canada | $57.4B | +18% | +4% | 16% | 3.02× | 15.7% | 16.0% |
| Aflac AFL | United States | $62.2B | +10% | +14% | 17% | 2.06× | 12.5% | 16.9% |
| MetLife MET | United States | $62.4B | +27% | +9% | 13% | 2.28× | 16.2% | 13.2% |
| Fubon Financial Hldg 2881.TW | Taiwan | $62.7B | +66% | +12% | 16% | 1.66× | 7.4% | 16.0% |
| Allstate ALL | United States | $64.4B | +20% | +6% | 46% | 2.04× | 9.9% | 46.1% |
| Swiss Re SREN.SW | Switzerland | $50.6B | +27% | -12% | 20% | 2.27× | 6.1% | 20.4% |
| People's Insurance Co. (Group) of China 1339.HK | Hong Kong | $46.1B | -2% | +11% | 18% | 0.60× | 5.6% | 18.1% |
| Ms&ad Ins Gp Hldgs 8725.T | Japan | $44.4B | +22% | +21% | 17% | 1.07× | 6.9% | 16.6% |
| China Pacific Insurance (Group) 601601.SS | China | $42.6B | -14% | +4% | 14% | 0.93× | 8.2% | 14.4% |
| Power Corporation of Canada POW.TO | Canada | $40.7B | +16% | +10% | 11% | 2.42× | 15.9% | 11.0% |
| American International AIG | United States | $40.7B | +2% | +1% | 8% | 1.04× | 7.5% | 8.2% |
| Sun Life Financial SLF.TO | Canada | $40.1B | +7% | -1% | 13% | 2.38× | 13.7% | 13.5% |
| Sompo 8630.T | Japan | $39.6B | +17% | +41% | 15% | 1.14× | 6.2% | 14.6% |
| Arch Capital ACGL | United States | $36.6B | +14% | -5% | 19% | 1.58× | 8.3% | 18.7% |
| Axa CS.PA | France | $103B | +13% | +11% | 19% | 2.24× | 17.8% | 19.0% |
| AIA 1299.HK | Hong Kong | $104B | -10% | +13% | 20% | 2.53× | 18.4% | 19.6% |
| Prudential plc Sponsored ADR PUK | United States | $31.7B | -21% | +39% | 19% | 1.56× | 11.4% | 19.2% |
| Prudential 2378.HK | Hong Kong | $30.8B | -24% | +30% | 19% | 1.54× | 11.3% | 19.3% |
| Aviva AV..L | United Kingdom | $29.5B | +18% | +86% | 7% | 2.46× | 23.8% | 6.8% |
| Zurich Insurance ZURN.SW | Switzerland | $114B | +16% | +19% | 26% | 3.67× | 11.2% | 25.5% |
| Cincinnati Financial CINF | United States | $28.5B | +15% | +10% | 17% | 1.76× | 10.6% | 16.9% |
Great-West Lifeco has 3 bonds outstanding with $1.67B face value. The agencies rate it A+; its bonds trade like A. Weighted yield 4.02%, a spread of 99 bp over government bonds.