In recent months, SIA has highlighted several compelling options for financial advisors seeking dividend paying equity positions within today’s volatile market environment. With that backdrop, another dividend paying name within the Insurance Sector may warrant examination as a potential income option while participating in a group that appears to be developing improving relative strength. Although the Insurance Sector remains ranked in the Neutral zone of the SIA Market Sector Report, it has moved up four spots over the past month and twelve spots over the past quarter. Today’s daily commentary focuses on Great-West Lifeco Inc. (GWO.TO).
Great-West Lifeco is included in the SIA Combined Canadian Dividend Report, SIA’s most comprehensive dividend resource, which combines the S&P/TSX Canadian Dividend Aristocrats Index, the S&P/TSX High Dividend Index, and the Dow Jones Canada Select Dividend Index. This report is designed to provide subscribers with an in depth selection of dividend opportunities within the Canadian market. Currently, GWO.TO resides in the Green Favored Zone at the 13th position within the SIA Combined Canadian Dividend Report, having recently entered the favored zone on October 27, 2025, at a price of $59.22. As of yesterday’s close, shares were trading at $68.09, representing a gain of approximately 15% in a little over two months. Over the same period, the S&P/TSX Composite Index has advanced 6.15%, resulting in nearly 9% relative outperformance versus the broader Canadian benchmark. In addition, GWO.TO offers a dividend yield of 3.58% and is a constituent of the S&P/TSX Canadian Dividend Aristocrats Index, indicating a history of at least five consecutive years of dividend increases.
Reviewing the candlestick chart of Great-West Lifeco, the shares appear to have traded within a prolonged sideways range from 2021 through the spring of 2023. In early May 2023, this range resolved to the upside, with price advancing into the mid $35 area. From that point, a slow but steady upward trend developed until early February 2025, when the shares gapped higher toward the $50 level. This move coincided with the company reporting record fourth quarter and full year 2024 earnings, along with a 10% increase in its dividend, which further reinforced its dividend aristocrat status. Throughout 2025, the shares have remained firm, with a more recent parabolic advance emerging from the $50 area during the summer. Currently, GWO.TO is trading in the $68 range, reflecting sustained upside momentum.
Following such a significant advance, a review of the Point and Figure chart on a 2% scale may help identify more defined support and resistance levels going forward. On the accompanying chart, the shares appear to be in a rising column of Xs that has extended for an impressive 16 boxes without triggering a 3-box reversal. During this advance, the shares registered a higher high after breaking above the $55.59 level in October, moving to new all time highs. After such an extended move, initial support appears at the three box reversal level near $62.61. Below that, additional support may be found at the 67% retracement level near $59.00, measured from the most recent breakout. Should the shares continue to advance, potential resistance levels are identified at $70.51 and $77.84 based on measured move objectives. Currently, GWO exhibits a bullish Double Top pattern and carries a positive SMAX score of 8 out of 10, which suggests strong near term relative strength versus the asset classes.
Great-West Lifeco Inc. is one of the three major Canadian life insurance companies. Just under half of the firm’s profit and revenue is generated in Canada, while the company also maintains operations in the United States and Europe. Within Canada, Great-West provides both individual and group insurance products. In the United States, operations include Putnam Investments and the defined contribution recordkeeping firm Empower Retirement. In 2020, the company announced the acquisition of Personal Capital along with MassMutual’s recordkeeping business. In Europe, Great-West offers life insurance, annuities, and reinsurance services, primarily across the United Kingdom, Ireland, and Germany.
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