Great-West Lifeco Inc. says its base earnings for the third quarter were $950 million, up from $809 million a year earlier.

The company attributed the increase primarily to business growth, as well as higher average equity markets and interest rates.

Great-West Lifeco says its net earnings attributable to common shareholders were $905 million in the third quarter, down from $987 million during the same quarter last year. 

Net earnings per diluted share were 97 cents, down from $1.06 a year earlier. 

The company says base earnings from its Canadian segment were $296 million, down from $340 million a year earlier. 

Meanwhile, base earnings in the U.S. increased slightly to $262 million, while earnings rose in Europe to $206 million. 

This report by The Canadian Press was first published Nov. 8, 2023.