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Mixed results for Desjardins Insurance



February 27, 2018 09:45

The Desjardins group has recorded an increase of 7.5 % of its operating revenues to $ 15.4 billion (G$) for fiscal year 2017, compared to$ 14.1 billion the previous year. Desjardins also announced an increase of dividends, which amounted to 2017 to $ 320 million ($M), against$ 259 Million for 2016.

“These results confirm that Desjardins was more successful than ever to be closer to its members and customers, primarily through our major digital transformation that responds effectively to their expectations. This gives us even more ways to pursue our mission of social and economic impacts are direct, including a 40% increase in the dividend and our ability to restore$ 320 Million to the members and to the community, ” said president and chief executive officer, Guy Cormier.

73% decline of the net result in damage to the 4th quarter

The net surplus earnings for the fourth quarter amounted to$ 48 Million decrease of 73.6 % compared to the corresponding period of 2016, where they amounted to$ 182 Million. Desjardins explains that this decrease is due to the favorable evolution of claims from previous years is lower than in the fourth quarter of 2016. In addition, the ratio in 2017 is higher than that of the corresponding quarter of 2016.

For the full year, the sector of damage insurance has recorded a net surplus earnings, as adjusted$ 237 Million, a decrease of$ 92 Million. It derives from the ratio of the current year than in 2016.

The improvement of the interest rate benefits at Desjardins

For the year 2017, the sector of wealth management and life and health insurance generated a net surplus earnings of 612 M$, an increase of 32.8 % compared to net surplus earnings recorded in 2016. Desjardins indicates that this increase is dependent on the good performance of investments, improvement of the interest rate and the growth in assets under management.

For the fourth quarter of 2017, the surplus of$ 159 Million, an increase of$ 45 Million compared to the fourth quarter of 2016.

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