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Irish Life earns E38m for parent in Q2

Thursday, August 07 10:31:28

Irish Life, which is owned by Great-West Lifeco, contributed CAD$57 million (E38 million) to its Canadian parent company's net earnings in the second quarter, Lifeco said this morning.

That's up from CAD$52 (Euro E34 million) in the first quarter of 2014.

In the year since the acquisition by Great-West Lifeco on 18 July 2013, Irish Life has contributed a total of CAD$194 million (E133 million) to group earnings, it said.

Irish Life generated CAD$2.1 billion (E1.4 billion) of sales and CAD$153 million (E102 million) of Great-West Lifeco's fee income for the second quarter.

"We are delighted to have made a significant contribution to Great-West Lifeco in the second quarter, fuelled by excellent growth in our three core business lines Retail, Corporate Business and Investment Management," said Bill Kyle, Chief Executive Officer, Irish Life Group.

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