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Great-West Lifeco. reports first-quarter sales, revenue increases

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Great-West Lifeco Inc. grew its earnings by 15 per cent in the first quarter of the year to $517 million as revenue grew across the board.

As of March 31, 2013 the Winnipeg-based international financial services holding company had $582 billion in consolidated assets under administration, up $36 billion from December 31, 2012.

Total sales grew by 23 per cent with double digit increases in Canada, the U.S. and Europe. Its Boston-based Putnam Investments saw sales grow by 28 per cent in the first quarter compared to the same period last year with net outflows of $314 million compared to $2 billion last year.

Total company premiums and deposits were $16.6 billion, up 15 per cent from the first quarter of 2012, reflecting continued strong sales in each of its operating segments.

Shares are up 11 cents to $27.38 in morning trading.

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