Great-West Lifeco Inc. today reported a slight increase in third-quarter profit as it took a charge related to hurricane activity in the United States.

The insurer said profit for the quarter ended Sept. 30, 2005 rose 1.7%, as income was reduced by a $30 million charge related to hurricane damage.

Net income was $421 million, or 47¢ a share, up from $414 million, or 46¢ share, in the year-before period.

Assets under administration at Sept. 30, 2005 totalled $174.1 billion, up $9.2 billion from Dec. 31, 2004 levels

GWL has operations through Great-West Life Assurance Co., London Life Insurance Co., Canada Life Assurance Co., and Great-West Life & Annuity Insurance Co.

GWL is a member of the Power Financial Corp. group of companies.