Great-West Lifeco (GWO) Investor presentation summary
Event summary combining transcript, slides, and related documents.
Investor presentation summary
11 May, 2026Strategic overview
Over 175 years of history with more than 40 million customer relationships and $3.3 trillion in client assets, making it the fourth largest life insurer in North America by market capitalization.
Operates leading businesses in the U.S., Canada, Europe, and Capital & Risk Solutions (CRS), with diversified earnings contributions across segments.
Strategic playbook focuses on building leading companies in stable markets, investing to strengthen leadership, and maintaining capital and risk discipline.
Execution priorities include customer-centricity, digital transformation leveraging AI, operational excellence, and enabling growth through diversification and capital discipline.
Positive long-term trends such as an aging population, growing retirement savings gap, and increased corporate risk management needs support future growth.
Growth opportunities and segment strategies
U.S.: Empower is the #2 retirement plan provider, with $2.0T in client assets and industry-leading growth in net new assets; aims for double-digit base earnings CAGR.
Canada: Leading workplace benefits and wealth provider, serving over 14 million Canadians; targets mid-single digit base earnings CAGR by growing wealth, expanding advice, and deepening client relationships.
Europe: Market leader in life, group benefits, and retirement, with ambitions to scale core business, expand into wealth, and capture bulk annuities growth, targeting mid-single digit plus base earnings CAGR.
CRS: Global reinsurance leader, #1 in U.S. health and group life reinsurance, focusing on disciplined risk selection and capital solutions, with mid-single digit plus base earnings CAGR ambition.
Financial performance and objectives
Achieved $4.6B in base earnings for 2025, with segment contributions: U.S. 31%, Canada 29%, Europe 21%, CRS 19%.
Medium-term ambitions include 8-10% base EPS growth, 19%+ base ROE, 45-55% base dividend payout ratio, and 80%+ base capital generation.
Five-year annualized total shareholder return of 20.2%, outpacing the TSX by 490 basis points per year.
Highly cash-generative businesses with disciplined capital allocation, focusing on organic reinvestment, dividends, M&A, and buybacks.
Latest events from Great-West Lifeco
- Targets 8–10% EPS growth, 19%+ ROE, and 80%+ capital generation with capital-efficient strategies.GWO
Investor Day 20259 Jul 2026 - Record earnings, double-digit segment growth, and increased buybacks highlight strong Q3.GWO
Q3 20258 Jul 2026 - Base earnings up 5% to $1.03B, driven by strong Retirement and Wealth growth.GWO
Q1 20258 Jul 2026 - Base and net earnings surged, with ROE above 19% and strong segment and asset growth.GWO
Q1 202613 May 2026 - Record base earnings, higher dividend, and robust segment growth highlight strong 2025 results.GWO
Q4 202513 Apr 2026 - Q4 2025 base earnings rose 12% YoY, driven by diversified growth and strong capital discipline.GWO
Investor presentation20 Mar 2026 - Record earnings and robust segment growth, led by Empower and U.S. operations.GWO
Q2 20242 Feb 2026 - Growth targets rely on plan-level expansion, cost leadership, and disciplined market focus.GWO
Scotiabank Financials Summit22 Jan 2026 - Record base earnings and $3T AUA, with double-digit growth in key segments and strong outlook.GWO
Q3 202415 Jan 2026