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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