05:19 PM EDT, 08/05/2025 (MT Newswires) -- Great-West Lifeco ( GWLIF ) Tuesday after hours reported higher second-quarter base earnings, boosted by higher Wealth and Group Benefits business.

Base earnings rose 11% to $1.15 billion, or $1.24 per share, from $1,04 billion a year ago, or $1.11 per share. The result, which beat the consensus analyst estimate of $1.17 per share, according to FactSet, reflects double-digit base earnings growth across the Wealth and Group Benefits businesses, and improved insurance experience.

The life insurer's U.S. earnings were up 13%, driven by higher average customer account balances and the number of plan participants, and Wealth net flows. Empower's Retirement business is expected to experience net plan inflows of at least US$25 billion for the second half of 2025, more than offsetting a notable termination in the second quarte, Great-West added.

Base return on equity edged up to 17.4%, from 17.2% while the LICAT ratio was up two percentage points to 132%.

The company will pay a quarterly dividend of $0.61 per share on Sept. 29.

Great-West shares closed up $0.20 to $52.26 on the Toronto Stock Exchange.