Home Breadcrumb caret Industry News Breadcrumb caret Industry Power Financial Q1 profit slips to $546M Bigger contribution from IGM offset by lower earnings from life insurance companies By The Canadian Press | May 13, 2019 | Last updated on May 13, 2019 1 min read Power Financial Corp. posted first-quarter net earnings of $536 million on Monday, down from $586 million during the same period a year earlier and missing expectations. The Montreal-based company’s profit during the three-month period ended March 31 amounted to 75¢ per share, a drop from 82¢ during the same quarter in 2018. Analysts on average had expected earnings per share of 78¢ per share, according to Thomson Reuters Eikon. Power Financial holds majority stakes in Great-West Lifeco, IGM Financial and Wealthsimple Financial Corp., as well as a minority stake in Pargesa Holding. The company’s quarterly earnings from its life insurance companies, which includes the Canada Life Assurance Co., amounted to $444 million, down from $495 million a year earlier. The Canadian Press The Canadian Press is a national news agency headquartered in Toronto and founded in 1917. Save Stroke 1 Print Group 8 Share LI logo