What’s New: In Brief (February 16, 2007)

Joseph A. Hardy has been appointed account development executive of Compliance Management Inc. (CMI). Working out of CMIs Markham office, Hardy will be responsible for compliance risk management in Canada. With more than 20 years working with large corporations in the risk management field, Hardy has also served as the president of Ontario Risk & Insurance Management Society, as well as serving 5 years as board director of the Risk & Insurance Management Society.

Great-West Lifeco Inc. (LIfeco) has reported net income of CDN$491 million for 2006 Q4. This marks an increase of CDN$35 million over 2005. For the entire year the company reported a net income of approximately CDN$1.9 billion, compared to CDN$1.7 billion in 2005. The 2005 results included restructuring charges and provisions for expected losses arising from hurricane damage, according to information from the company. Consolidated net earnings of the Canadian segment of Lifeco attributable to common shareholders for Q4 of 2006 increased 30% to CDN$223 million from Cdn$171 million in 2005. For the 12 months ended Dec. 31, 2006, earnings were up 16% to Cdn$893 million from Cdn$773 million in 2005.