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GREAT - WEST LIFECO INC . RELEASE TSX : GWO This earnings news release for Great - West Lifeco Inc. should be read in conjunction with the Company's interim Management's Discussion & Analysis ( MD & A ) and condensed consolidated interim unaudited Financial Statements for the period ended March 31 , 2021 , prepared in accordance with International Financial Reporting Standards ( IFRS ) unless otherwise noted . These reports are available on greatwestlifeco.com under Financial Reports . Additional information relating to Lifeco is available on sedar.com . Readers are referred to the cautionary notes regarding Forward - Looking Information and Non - IFRS Financial Measures at the end of this release . All figures are expressed in Canadian dollars , unless otherwise noted . Great - West Lifeco reports first quarter 2021 base earnings of $ 739 million and net earnings of $ 707 million Winnipeg , May 5 , 2021 ... Great - West Lifeco Inc. ( Lifeco or the Company ) today announced its first quarter 2021 results . " Great - West Lifeco reported a solid first quarter to begin the fiscal year , driven by strong results across segments . The Company has continued to demonstrate solid growth as the impacts of the COVID - 19 pandemic have moderated . While increasing levels of vaccination are benefiting our businesses and the economies where we operate , our hearts go out to those countries , including India , where the recent wave is causing so much harm , ” said Paul Mahon , President and CEO of Great - West Lifeco Inc. " We're pleased that our recently acquired businesses are performing well , and integration activities are on track , while our global businesses ' momentum and sales pipelines remain strong . " Net earnings attributable to common shareholders ( net earnings ) were $ 707 million , or $ 0.76 per common share ( EPS ) , for the first quarter of 2021 compared to $ 342 million , or $ 0.37 per common share , for the same quarter last year . Base earnings for the first quarter of 2021 of $ 739 million , or $ 0.80 per common share , compared to $ 543 million or $ 0.59 per common share a year ago . Common Shareholders Base earnings ( ¹ ) Canada United States Europe Capital and Risk Solutions Q1 2021 Q1 2020 $ 298 $ 273 104 17 201 132 145 119 Lifeco Corporate ( 9 ) 2 Total base earnings ( 1 ) $ 739 $ 543 Items excluded from base earnings ( 2 ) ( 32 ) ( 201 ) Net earnings $ 707 $ 342 Base EPS ( 1 ) Net EPS Base return on equity ( ¹ ) ( 3 ) Return on equity ( 1 ) ( 3 ) $ 0.80 $ 0.59 $ 0.76 $ 0.37 13.6 % 13.5 % 15.7 % 10.3 % ( ¹ ) Represents a non - IFRS measure . Refer to the " Non - IFRS Financial Measures " section of the Company's first quarter of 2021 interim MD & A for additional details . ( 2 ) Items excluded from base earnings are actuarial assumption changes and other management actions , market - related impacts on liabilities , restructuring and integration costs related to the acquisitions of Personal Capital Corporation and the retirement services business of MassMutual . Refer to the " Non - IFRS Financial Measures " section of the Company's first quarter of 2021 interim MD & A for additional details . ( 3 ) Base return on equity and return on equity are calculated using the trailing four quarters of applicable earnings and common shareholders ' equity . 100 Osborne Street North Winnipeg MB Canada R3C 3A5 A member of the Power Corporation group of companies® . ... / 2