25 February 2019 11:30
Assumption Life has made a net profit of 7.6 million dollars (M$) for the year 2018. The insurer made the announcement during its annual general meeting held on 22 February in Moncton.
This is a slight decrease compared to the result of the fiscal year 2017, which amounted to$ 7.7 Million, the third-highest in the history of Assumption Life.
The insurer has also revealed that its assets under management reached $ 1.7 billion. Its solvency ratio according to the TSAV is 135 %.
New strategic planning
Assumption Life has affirmed to pursue its technological transformation that began in previous years ” in order to improve its customer experience “.
“Strong this solid base, the management team is beginning a new strategic planning to meet the challenges of the future by answering some basic questions, without forgetting where we come from. The values of mutual aid and support to our people that guide our philanthropic efforts will continue to enlighten us, as we continue to build our technology transformation to meet the new demands of the market “, emphasised the new chairman and managing director, Sébastien Dupuis.
Assumption Life provides 6 % of its net profit to social causes. In 2018, the insurer said having been endorsed by 139 organizations and initiatives in various spheres of society. The employees have completed 656 hours of volunteer work outside of office hours and 560 hours during office hours.
“I would like to emphasize the importance of the social balance sheet of our company, a great source of pride for all our employees. We are happy to support them in their work in the community thanks to two half-days of volunteering, which add a personal dimension to the philanthropic activities of the company. Assumption Life is pleased to support a wide range of projects that contribute to the social vitality of our communities, ” added Mr. Dupuis.