Peter Hodson Great West Lifeco GWO-T COMMENT Nov 18, 2024

All the insurance names, both in Canada and the US, continue to work. If interest rates do, in fact, go higher, that will only be beneficial for lifecos and other insurers. The chart looks fantastic. Good run, so there is some weakening in the intermediate term.

If a long-term holding, best thing you can do is sit on your hands and do nothing except participate in the DRIP program. Especially if he's right on the broader call of rates being 8-10% in the secular bear market of 2030-40, should be a big tailwind for insurers.

Really likes it for income. Very disciplined and methodical acquisitions. Global platform:  Canada, US, and Europe. Recent earnings growth was from US side, and this will likely continue due to demand and to weak CAD. Above his buy price, so just wait a bit. Yield is 4.7%.

He owns both this and Manulife. Rates going up have helped a lot. They are working on improving the U.S. side which wasn't going well. The Canadian side is doing well.

An insurer, holding long-term assets that are not exposed much to market volatility. Their dividend grows 8% annually, not paying almost 5%. Gives you income and safety. Lots of cash flow.

He owns POW instead, but you could own this one as well.

Likes its acquisition strategy, as it feeds into the growth profile.

Growing very decisively. Done extremely well. A good way to get exposure to this is via POW.

His favourite in the space. Nice yield. Growing in mature markets in Europe, generates reasonable returns. Very disciplined. Reasonable valuation.

Are totally different from MFC and SLF which have businesses in China and India. GWO instead has business in Europe where they can buy attractive companies. Is an income stock. Trades at only 11x PE, with strong growth. A core holding. Pays a dividend around 5%.