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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 June 30 , 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 second quarter 2021 base earnings of $ 826 million and net earnings of $ 784 million Winnipeg , August 3 , 2021 ... Great - West Lifeco Inc. ( Lifeco or the Company ) today announced its second quarter 2021 results . " We've transformed our portfolio over the last few years by capitalizing on several strategic initiatives and investments - including , most recently , our agreement to acquire Prudential Financial , Inc.'s full - service retirement business in the U.S. , " said Paul Mahon , President and CEO of Great - West Lifeco Inc. " Our second quarter results were driven by strong performance across segments with solid sales activity . Just as importantly , our business integration activities in the U.S. remain on track to deliver targeted financial results and strong customer retention . " Net earnings attributable to common shareholders ( net earnings ) were $ 784 million , or $ 0.84 per common share ( EPS ) , for the second quarter of 2021 compared to $ 863 million , or $ 0.93 per common share , for the same quarter last year . Base earnings for the second quarter of 2021 of $ 826 million , or $ 0.89 per common share , compared to $ 706 million or $ 0.76 per common share a year ago . Common Shareholders Base earnings ( 1 ) Canada United States Europe Capital and Risk Solutions Q2 2021 Q2 2020 $ 293 $ 315 190 83 184 179 150 137 Lifeco Corporate 9 ( 8 ) Total base earnings ( 1 ) $ 826 $ 706 Items excluded from base earnings ( 2 ) ( 42 ) 157 Net earnings $ 784 $ 863 Base EPS ( 1 ) Net EPS Base return on equity ( 1 ) ( 3 ) Return on equity ( 1 ) ( 3 ) $ 0.89 $ 0.76 $ 0.84 $ 0.93 13.9 % 13.7 % 15.0 % 12.1 % ( ¹ ) Represents a non - IFRS measure . Refer to the " Non - IFRS Financial Measures " section of the Company's second 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 , tax legislative changes impact on liabilities and transaction , restructuring and integration costs in the U.S. segment . Refer to the " Non - IFRS Financial Measures " section of the Company's second 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