Great-West Lifeco Sets New Medium-Term Performance Targets

By Adriano Marchese

Great-West Lifeco Inc. said Tuesday that it has set new earnings, cash-generation and return-on-equity targets for its medium-term performance.

The Canadian insurance-centered financial holding company said that it has set objectives of per-share earnings growth of between 8% and 10% a year, and base return on equity of between 14% and 15%.

The company also said it expects strong cash generation over the period.

"We're confident in our ability to achieve these medium-term financial objectives, which are underpinned by growth-oriented investments across our businesses as well as significant benefits expected from the capital deployed on the Personal Capital and MassMutual transactions," President and Chief Executive Officer Paul Mahon said.

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(END) Dow Jones Newswires

06-08-21 0809ET