| |
| Total
Company (Dollars in Millions) |
2009 |
2008* |
| Net
Income |
$122.4 |
$1,098.3 |
| Stockholders’
Equity |
$1,349.8 |
$609.1 |
| Return on
Common Equity |
9.1% |
34.3% |
| Assets |
$41,798.3 |
$36,175.6 |
| Employees |
3,100 |
3,000 |
 |
| *Net income for 2008 includes the gain on the sale of the healthcare segment and a one-time gain upon the release of certain reinsurance reserves, collectively in the amount of $889.3 million. Return on common equity excludes those gains.
|
| Business Segments (Dollars in Millions) |
2009 |
2008 |
| Great-West Retirement Services |
| Recordkeeping Accounts |
4.2 million |
3.7 million |
| Assets Administered |
$123,097 |
$91,932 |
| |
| Individual Markets |
| Premium Income |
$428 |
$378 |
| Assets Administered |
$19,781 |
$18,769 |
|
| GWRS numbers reflect all FASCore customers: those of institutional clients, third-party administrator clients and GWRS. All figures as of Dec. 31. |
 |
|
Financial Statement Summary |
| Balance Sheet (Dollars in Millions) |
2009 |
2008 |
| Assets
|
| Bonds |
|
12,012.4 |
| Mortgages |
|
1,380.1 |
| Equities |
|
17.8 |
| Policy loans |
3,971.8 |
3,979.1 |
| Short-term investments |
488.5 |
366.4 |
| Other investments |
277.9 |
325.9 |
| Total invested assets |
20,376.0 |
18,081.7 |
| Cash |
171.0 |
28.4 |
| Receivables |
1,005.1 |
742.4 |
| Assets of discontinued operations1 |
87.7 |
124.1 |
| Other assets |
1,271.6 |
2,077.1 |
| Total General Account |
22,911.4 |
21,053.7 |
| Separate Account assets |
18,886.9 |
15,121.9 |
| Total assets |
41,798.3 |
36,175.6 |
| |
| Liabilities
|
| Policyholder |
19,690.6 |
18,788.6 |
| General |
1,783.3 |
1,531.9 |
| Liabilities of discontinued operations1 |
87.7 |
124.1 |
| Separate Account |
18,886.9 |
15,121.9 |
| Total liabilities |
40,448.5 |
35,566.5 |
| Stockholders' equity |
1,349.8 |
609.1 |
| Total liabilities and equity |
41,798.3 |
36,175.6 |
|
| Statement of Income (Dollars in Millions) |
2009 |
2008 |
| Revenues
|
| Premiums |
|
525.1 |
| Fee income |
386.2 |
429.2 |
| Net investment income |
1,149.1 |
1,078.5 |
| Net realized gains (losses) |
(67.6) |
(21.7) |
| Total revenues |
2,028.0 |
2,011.1 |
| |
| Benefits and Expenses
|
| Policy benefits |
590.5 |
605.1 |
| Increase (decrease) in reserves |
109.7 |
(38.4) |
| Interest paid or credited to contractholders |
552.6 |
515.4 |
Provision for policyholders' share of earnings (loss)
on participating business |
1.2
|
(206.4)
|
| Policyholder dividends |
72.8 |
71.8 |
| Operating expenses |
532.7 |
522.3 |
| Total benefits and expenses |
1,859.5 |
1,469.8 |
| Income from continuing operations before income taxes |
168.5
|
541.3
|
| Income tax expense |
46.1 |
95.8 |
| Income from continuing operations |
122.4 |
445.5 |
| Income from discontinued operations1 |
- |
652.8 |
| Net income2 |
122.4 |
1,098.3 |
|
1On April 1, 2008, Great-West completed the sale of its healthcare division. The financial information presented here reflects the discontinuation of the healthcare business.
2For 2008, includes the gain on the sale of the healthcare segment and a one-time gain upon the release of certain reinsurance reserves, collectively in the amount of $889.3 million.
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