Canada Life: Consolidated Statements of Earnings for the Year

canada life CONSOLIDATED STATEMENTS OF EARNINGS [in Canadian 8 mWons) For the years ended December 31 202 202- Income Premium income Gross premiums written $ 58.060 $ 64,340 Ceded premiums (3,735) 3,731) Total net premiums 54,322 10 609 Net investment income (nate 6) Regular nat investment income 4,893 4,502 Changes in fair value through profit or loss (16,011) (1,240) Total net investment income (loss) (11,113) 3.262 Fee and other income 3,325 3,414 46,534 67.285 Benefits and expenses Policyholder benefits Gross 45,611 43,401 Ceded (2,537) 2.505) Total net policyholder benefits 46,074 40 896 Changes in insurance and investment contract liabilities Gross (12,410) 4,394 Ceded 1,169 1,081 Total net changes in insurance and investment contract liabilities (11,241) 5,475 Policyholder dividends and experience refunds 2,172 1,423 Total paid or credited to policyholders 37,005 47,794 Commissions 2,143 2.107 Operating and administrative expenses (nate 27) 3,249 3,175 Premium taxes 474 486 Financing charges (nate 16) 109 110 Amortization of finite life intangible assets (note 10) 168 165 Earnings before Income taxes 3,381 3448 Income taxes (note 26) 159 274 Net earnings before non-controlling Interests 3,182 3,174 Attributable to non-controlling interests (note 19) 3 Net earnings 3,179 3,171 Net earnings - participating account (note 18) 184 303 Net earnings - common shareholder 2995 2.868