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Step concludes the second quarter in the green

by

Mathieu Carbasse

11 August, 2017 09:45

In the second quarter of 2017, Step Financial Holdings has recorded a net profit attributable to shareholders of$ 3.1 Million, an increase compared to the same quarter 2016 ($1.8 Million).

The combined ratio of the insurer has reached 94%, an improvement compared to the second quarter of 2016 (98 %)” It has in particular benefited from the good results in automobile insurance and business insurance.

During the same period, the direct premiums written have increased by 27 %, benefiting from the sustained growth of existing products in Quebec and Ontario, but also in the new products launched in 2016 in insurance companies.

«We are satisfied with the results for the quarter, with strong results in personal lines and commercial, said Serge Lavoie, president and chief executive officer of the insurer. Our range of products continues to be well received by our brokers, direct written premiums increased by 25% in the first half compared to 2016. While we finish the deployment of our new policy management system, we are looking forward to improve our relationship with our brokers across Canada. «

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