The
Great-West chief executive
"These actions are focused on broadening and strengthening our businesses to accelerate growth in revenue, earnings per share and shareholder value," Mahon said on a Thursday afternoon earnings call with analysts.
Great-West is expected to earn
But the company has also been spending plenty of cash this year.
In recent months, Great-West and its subsidiaries reached deals to spend at least
It will also take on a non-controlling interest in
The deals pushed Great-West's net earnings per share to
Its base earnings, a form of adjusted profit that excludes certain items, were
The company was expected to report
Meanwhile, the company's stock inched up
The quarter also saw Canadian health and dental claims, which sank during the onset of the COVID-19 pandemic as people stayed home, approach more normal levels, said Mahon.
While the pandemic has ravaged businesses, he's seen few terminate their insurance plans due to bankruptcies, but noticed group and individual insurance plans sales have slowed.
"While we continue to see COVID-related mortality increases across our business, the balanced nature of our insurance and longevity book greatly reduces the financial impact," added Mahon.
In
However, he said he has seen activity pick up in the
Across all markets, Mahon said Great-West is paying attention to investments most vulnerable to the pandemic like real estate and offices.
"While performance continues to be strong, COVID-related pressures exist and as such we are closely monitoring the portfolio."
This report by
Companies in this story: (TSX:GWO)
© 2020 The Canadian Press. All rights reserved., source