Great-West Lifeco Inc. said Thursday that third-quarter earnings jumped 24% as all segments of the insurance giant, including recently acquired Canada Life Financial Corp., posted strong results.

For the three months ended Sept. 30, Winnipeg-based Great-West said net income attributable to common shareholders was $417 million (47¢ a share) vs $336 million (39¢) a year ago.

For the nine-month period, net income was $1.2 billion ($1.35 a share), a 42% jump over the $850 million ($1.09) reported in 2003.

The figures exclude restructuring charges from the acquisition of Canada Life, which closed in July of last year.

Great-West “experienced solid growth overall in the third quarter, with strong operating results in all major business segments and significant growth in net income attributable to common shareholders,” the company said in a statement.

Great-West’s assets under administration at Sept.30 stood at $162.3 billion, up $3.1 billion from Dec. 31.

The company’s results include those from its four subsidiaries — The Great-West Life Assurance Co., Canada Life, London Life Insurance Co. and Great-West Life & Annuity Insurance Co. — as well as Great-West’s corporate results.