great-west lifeco - power financial€¦ · financial measure) by lifeco. great-west lifeco ......
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201720152013 20162014
Total assets under administration[in billions of dollars]
1,3501,063 1,213 1,248
2017 20172015 2013 [1] 20162014
Adjusted net earningsattributable to common shareholders[in millions of dollars]
2,6472,546 2,762 2,6852,052
20152013 20162014
Net earnings attributable to common shareholders[in millions of dollars]
2,546 2,7622,278 2,641 2,149 758
[1] Described as operating earnings (a non-IFRS financial measure) by Lifeco.
Great-West LifecoGreat-West Lifeco Inc. is an international financial services
holding company with interests in life insurance, health
insurance, retirement and investment services, asset
management and reinsurance businesses. Great-West Lifeco
has operations in Canada, the United States and Europe
through Great-West Life, London Life, Canada Life,
Irish Life, Great-West Financial, Putnam Investments and
PanAgora. Great-West Lifeco and its companies have
$1.35 trillion in total assets under administration.
9POWER FINANCIAL CORPORATION 2017 ANNUAL REPORT
Canada
Great-West Life is a leading Canadian insurer, with interests in life insurance, health insurance, investment, savings and retirement income and reinsurance businesses, primarily in Canada and Europe.
In Canada, Great-West Life and its subsidiaries, London Life and Canada Life, offer a broad portfolio of financial and benefit plan solutions and serve the financial security needs of 13 million people.
$180 billion Total assets under administration
$13.6 billion Sales
$1,074 million Net earnings
13 million Customer relationships
$13.5 million contributed to communities in Canada
Europe
Canada Life and its Irish Life subsidiary in Europe provide a broad range of protection and wealth management products, including: payout annuities, investments and group insurance in the United Kingdom; investments and individual insurance in the Isle of Man; insurance, pension and investment products in Ireland; and pensions, critical illness and disability insurance in Germany.
$255 billion Total assets under administration
$21.9 billion Insurance and annuities sales
$1,152 million Net earnings
Top 4 provider of payout annuities in the U.K.
No. 1 pension, investment and life insurance provider in Ireland
United States
Great-West Financial provides life insurance, annuities and executive benefits products. Its Great-West Investments unit offers fund management, investment and advisory services. Its Empower Retirement arm serves all segments of the employer-sponsored retirement plan market: small, mid-size and large corporate clients, government plans, non-profit entities and private-label record-keeping clients. Empower also offers individual retirement accounts.
US$557 billion Total assets under administration
8.8 million retirement, insurance and annuity customers
No. 1 in government deferred- compensation market by assets and participants
No. 2 defined contribution record keeper in the U.S. by participants
United States • Europe • Asia
Putnam is a U.S.-based global asset manager, offering investment management services across a range of asset classes, including fixed income, equity – both U.S. and global – global asset allocation and alternatives, including absolute return, risk parity and hedge funds. Putnam’s investment performance was ranked in the “top ten” among investment firms in all time periods (one, five, ten years) in Barron’s Best Fund Families of 2017.
The firm’s affiliate PanAgora is a premier provider of institutional investment solutions, including alternatives, risk premia – including risk parity – and active strategies, spanning all major asset classes and risk ranges.
US$171 billion Total assets under management
180+ investment professionals
100+ mutual funds available
80 years of investment experience
150+ institutional mandates
168,000 advisors distribute Putnam products
2017 adjusted net earningsattributable to common shareholders
$2,647 MILLION
2017 return on shareholders’ equity [1]
13.4%
Total assets under administration
$1.35 TRILLIONGREAT-WEST LIFECO
LONDON LIFE 100%
GREAT-WEST FINANCIAL
100%
[1] Return on shareholders’ equity is calculated using adjusted net earnings.
GREAT-WEST LIFE 100%
* As of February 9, 2018CANADA LIFE
100%
IRISH LIFE 100%
PANAGORA 92.7%*
PUTNAM INVESTMENTS
95.9%
201720152013 20162014
Net earnings available to common shareholders[in millions of dollars]
602762 753 772 771
201720152013 20162014
Total assets under management[in billions of dollars]
157132 142 143134
201720152013 20162014
Adjusted net earningsavailable to common shareholders[in millions of dollars]
728826 796 737764
IGM Financial Inc. is one of Canada’s premier
personal financial services companies with
$157 billion in total assets under management.
The company serves the financial needs of
Canadians through multiple businesses, each
operating distinctly within the advice segment
of the financial services market. The company
is committed to building on its record of
delivering long-term growth and value to
its clients and shareholders.
IGM Financial
11POWER FINANCIAL CORPORATION 2017 ANNUAL REPORT
IGM FINANCIAL
INVESTORS GROUP 100%
INVESTMENT PLANNING COUNSEL
100%*
Investors Group is committed to comprehensive planning delivered through long-term client and consultant relationships. The company provides advice and services to approximately one million Canadians through a network of consultants located across Canada.
$88.0 billion Total assets under management
$9.7 billion Mutual fund gross sales
2,124 Consultant practices* advise on 95% of assets under management
98% of Consultant practices hold the Certified Financial Planner (CFP) or Financial Planner (F.Pl.) designation or are enrolled in the programs
* Consultant practices are teams led by consultants with greater than four years' experience.
Mackenzie Investments provides investment management and related services through diversified investment solutions, using proprietary investment research and experienced investment professionals to deliver its various product offerings. The company distributes its investment services through multiple distribution channels to both retail and institutional investors.
$64.6 billion Total assets under management
$9.2 billion Mutual fund gross sales
Investment products offered through 30,000+ third-party advisors and institutional clients
70% of Mackenzie mutual fund assets rated 3, 4 or 5 Star by Morningstar
Investment Planning Counsel is an integrated financial services company focused on providing Canadians with high-quality financial products, services and advice. The company is dedicated to providing independent financial advisors with the tools, products and support they need to build a successful business and serve a wide range of clients.
$5.4 billion Assets under management
$889 million Mutual fund gross sales
$27.6 billion Assets under administration
Partners with approximately 800 advisors across the country
2017 adjusted net earnings available to common shareholders
$728 MILLION
2017 return on shareholders’ equity [1]
15.6%
Total assets under management
$157 BILLION
[1] Return on shareholders’ equity is calculated using adjusted net earnings.
* As of January 19, 2018
CHINA AMC 13.9%
MACKENZIE INVESTMENTS
100%
Net asset value
SF10.85 BILLION
2017 adjusted net earnings [1]
SF384 MILLION
[1] Described as Economic operating income by Pargesa.
[2] Representing 51.8% of the voting rights.
PARGESA
IMERYS 53.8%
TOTAL 0.6%
ONTEX 19.9%
PARQUES 21.2%
ADIDAS 7.5%
PERNOD RICARD
7.5%
LAFARGE HOLCIM
9.4%
UMICORE 17.0%
BURBERRY 6.5%
GEA 4.3%
SGS 16.6%
50.0% [2]
GROUPE BRUXELLES LAMBERT
Power Financial, through its wholly
owned subsidiary, Power Financial
Europe B.V., and the Frère family group
of Belgium each hold a 50 per cent
interest in Parjointco, a Netherlands-
based company. Parjointco’s sole
holding is a 55.5 per cent equity interest
(75.4 per cent of the voting rights)
in Pargesa Holding SA, the Pargesa
group’s parent company based in
Geneva, Switzerland.
Pargesa, through its subsidiary,
Groupe Bruxelles Lambert, has holdings
in global industrial and services
companies based in Europe.
Pargesa Group
13POWER FINANCIAL CORPORATION 2017 ANNUAL REPORT
Imerys is the world leader in mineral-based specialty solutions for industry.
€3,366 million Market capitalization 6,252 Revenues 4,598 Current operating income 648Capital/voting rights
53.8% / 67.5%
SGS is the world leader in inspection, verification, testing and certification.
€2,751 million [SF million]
Market capitalization 19,397 Revenues 6,349 Adjusted operating income 969
Capital and voting rights
16.6%
LafargeHolcim is the leading global construction materials and solutions company.
€2,693 million [SF million]
Market capitalization 33,350 Net sales 26,129 Recurring EBITDA 5,990
Capital and voting rights
9.4%
Pernod Ricard is the world’s number two player in wines and spirits, holding a leading position globally.
€2,625 million Market capitalization 31,121 Net sales 9,010 Profit from recurring operations 2,394
As at June 30, 2017 company's year-end
Capital/voting rights
7.5% / 10.9%
adidas is the European leader in sports equipment.
€2,623 million Market capitalization 34,970 Net sales 21,218 Operating profit 2,070Capital and voting rights
7.5%
Umicore is a leader in materials technology and recycling of precious metals.
€1,503 million Market capitalization 8,838 Revenues (excluding metal) 2,916 Recurring EBITDA 599Capital and voting rights
17.0%
Total is an integrated global oil and gas group with a presence in chemicals.
€746 million Market capitalization 116,447Sales [US$ million] 171,493Adjusted net operating income
from business segments [US$ million] 11,936
Capital/voting rights
0.6% /1.2%
Burberry is a global luxury brand with a distinctive British heritage.
€557 million[£ million]
Market capitalization 7,675 Revenues 2,766 Adjusted operating profit 459As at March 31, 2017 company's year-end
Capital and voting rights
6.5%
Ontex is a leading international personal hygiene solutions provider.
€454 million Market capitalization 2,271 Revenues 2,355 Adjusted profit 131Capital and voting rights
19.9%
GEA is one of the largest suppliers of process technology to the food industry.
€328 million Market capitalization 7,702 Revenues 4,605 Operating EBITDA 564Capital and voting rights
4.3%
Parques Reunidos is a leading operator of leisure parks with a global presence.
€254 million Market capitalization 1,033 Revenues 579 Recurrent EBITDA 174
As at September 30, 2017 company's year-end
Capital and voting rights
21.2%
EBITDA is a non-IFRS financial measure.
Key 2017 Financial Data[in millions of euros, unless otherwise indicated]
GBL’s InvestmentAs of December 31, 2017