WINNIPEG - Great-West Lifeco Inc. reported its first-quarter profit fell compared with a year ago, hurt by higher income taxes, lower net fee income in Canada and the U.S., and unfavourable claims experience in Europe. Last month, Great-West announced it would consolidate its three Canadian life insurance companies under a single brand — Canada Life. ( John Woods / THE CANADIAN PRESS )That compared with a profit of $731 million or 74 cents per common share for the same quarter last year. Last month, Great-West announced it would consolidate its three Canadian life insurance companies under a single brand — Canada Life. Article Continued BelowIn addition to the brand unification, Great-West Life, London Life, Canada Life and their holding companies Canada Life Financial Corporation and London Insurance Group Inc. have also begun the process to formally amalgamate as one company.

Source: thestar May 02, 2019 12:33 UTC