The Canada Life 
 Assurance Company 
 consolidated 
 LICAT 
 Ratio(3)                 123%        126%        131% 
(1)  This metric is a non-IFRS measure. Refer to the "Non-IFRS 
      Financial Measures" section of the Company's September 
      30, 2021 Management's Discussion and Analysis for 
      additional details. 
(2)  2020 comparative figures have been reclassified to 
      reflect presentation adjustments in the Canada segment. 
(3)  The Life Insurance Capital Adequacy Test (LICAT) Ratio 
      is based on the consolidated results of The Canada 
      Life Assurance Company (Canada Life), Lifeco's major 
      Canadian operating subsidiary. Refer to the "Capital 
      Management and Adequacy" section of the Company's 
      September 30, 2021 Management's Discussion and Analysis 
      for additional details. 
Base earnings(1) and Net earnings - common shareholders 
 (unaudited) 
                     For the three months       For the nine months 
                     ended                      ended 
                     Sept.    June     Sept.    Sept.    Sept. 
                     302021   302021   302020   302021   302020 
Base earnings 
(loss)(1) 
Canada               $   312  $   293  $   270  $   903  $      858 
United States            221      190       83      515         183 
Europe                   232      184      182      617         493 
Capital and Risk 
 Solutions               107      150      156      402         412 
Lifeco Corporate         (2)        9     (12)      (2)        (18) 
Lifeco base 
 earnings(1)         $   870  $   826  $   679  $ 2,435  $    1,928 
Items excluded from 
base earnings(1) 
Actuarial 
 assumption changes 
 and other 
 management 
 actions(1)          $    69  $    37  $    66  $   111  $      136 
Market-related 
 impacts on 
 liabilities(1)           47     (19)       18        4        (96) 
Transaction costs 
 related to 
 acquisitions(1)(2)     (90)     (24)     (31)    (115)        (31) 
Restructuring and 
 integration 
 costs(1)               (24)     (15)       --     (51)          -- 
Net gain/charge on 
 business 
 dispositions(1)          --       --       94       --          94 
Tax legislative 
 changes impact on 
 liabilities(1)           --     (21)       --     (21)          -- 
Items excluded from 
 Lifeco base 
 earnings(1)         $     2  $  (42)  $   147  $  (72)  $      103 
Net earnings (loss) 
- common 
shareholders 
Canada               $   305  $   288  $   266  $   880  $      770 
United States            168      150       89      407         172 
Europe                   357      185      316      737         660 
Capital and Risk 
 Solutions               102      152      167      399         447 
Lifeco Corporate        (60)        9     (12)     (60)        (18) 
Lifeco net earnings 
 - common 
 shareholders        $   872  $   784  $   826  $ 2,363  $    2,031 
(1)  This metric is a non-IFRS measure. Refer to the "Non-IFRS 
      Financial Measures" section of the Company's September 
      30, 2021 Management's Discussion and Analysis for 
      additional details. 
(2)  The transaction costs incurred to date relate to the 
      acquisitions of the full-service retirement business 
      of Prudential, Personal Capital and the retirement 
      services business of MassMutual and are included in 
      the U.S. Corporate business unit. In addition, the 
      third quarter of 2021 included a provision for payments 
      relating to the Company's 2003 acquisition of The 
      Canada Life Assurance Company. 

SOURCE Great-West Lifeco Inc.

View original content: http://www.newswire.ca/en/releases/archive/November2021/03/c5806.html

/CONTACT:

Media Relations Contact: Liz Kulyk, 204-391-8515, media.relations@canadalife.com; Investor Relations Contact: Deirdre Neary, 647-328-2134, deirdre.neary@canadalife.com

Copyright CNW Group 2021