2 August 2019 13:30
Photo : Freepik
The reverse of iA financial group, but just as Great-West Lifeco and Sun Life Financial, Empire Life recedes in the second quarter of 2019, compared to the same period in the previous year.
The insurer declares a net income of $ 20 million ($M), compared to$ 57 Million during the second quarter of 2018. This represents a decrease of 65 %.
The net income of the insurer for the first six months of the year 219 amounted to$ 63 Million, compared to$ 96 Million for the first six months of 218, a decrease of 34 %.
“The decrease in profits for the second quarter and year-to-date is mainly due to the less profits of the individual insurance, wealth management and group insurance. This decrease was partially offset by the increase in the earnings from the capital and surplus, ” says Empire Life.