February 15, 2018 09:45
Photo : Freepik
In 2017, life Insurance Equitable of Canada has reported financial results «record» for a second year in a row, with a net income of $ 106 million ($M), representing an increase of 33 % compared to 2016, which amounted to$80 Million.
The insurer reported underwriting results for life products and supplementary health insurance individual of$ 101 Million, up 8.2 % compared to 2016. For group insurance, sales totaled$ 45 Million and the retirement savings accounts of the sales of 311 M$. It is a new record for the sector, which represents an increase of 11.9% compared to the previous year.
Increase in assets under management
Similarly, the assets under management of the Fair has recorded an increase of 11 % to $ 4.1 billion dollars (G$). Premiums and deposits totalled$ 1.2 billion, a growth of 14.6 % compared to 2016. The benefits and payments to policyholders totaled $ 694 G$.
Equitable to ensure that its outcomes are attributable to a conservative approach towards investment and growth driven by strong sales of new annualized premium and new deposits.
Continue its momentum
«We look to next year with confidence and we continue on our momentum in this direction by focusing on the consistent profitable growth and financial stability «, stresses Ronald Beettam, president and chief executive of Equitable.
«Throughout the year 2017, our team has shown its determination and its commitment to unwavering who have helped to achieve the objectives of the Company ; and it is through these efforts that all these achievements have been possible. »