Irish Life earnings up nearly 12%

Irish Life generated earnings of CAD$57m (€38m) in the second quarter of its current financial year, up almost 12% on the preceding quarter.

As part of its second-quarter results published yesterday parent company, Canadian insurance giant, Great-West Lifeco said Irish Life continued to generate strong results over the three months to the end of June.

Great-West completed its €1.3bn purchase of Irish Life 12 months ago — marking what Finance Minister Michael Noonan called “a historic transaction” as it represented the first nationalised institution to be re-sold by the Government into private hands.