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Profits at Irish Life up by 54pc

Profits at Irish Life shot up 54pc in the first three months of the year to €57m.

The insurer was sold by the State to Canada's Great-West Lifeco for €1.3bn deal in 2013.

Irish Life is contributing profits of €57m (CAD$80m) to the CAD$700m of net earnings at Great West Lifeco in the first qaurter of the year, the company said in a report.

Irish profits in the quarter were up from €34m in the same quarter in 2014, the company said.