Co-operators General Insurance's Q2 net income rises to C$149.7 mln
Overview
Co-operators Q2 net income rises to C$149.7 mln from C$95.7 mln
EPS for Q2 increases to C$5.35 from C$3.36 yr/yr
Direct written premiums grow 8.3%, net insurance revenue up 13.9% yr/yr
Result Drivers
PREMIUM GROWTH - Increase in average premiums and new business drove DWP and NIR growth, with auto and home lines in Ontario contributing significantly
INVESTMENT RETURNS - Positive investment portfolio returns, particularly in equities, boosted net investment income
CLAIMS AND EXPENSES - Higher major event activity and current accident year claims led to increased claims and expenses, impacting underwriting income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Insurance Revenue | C$1.35 bln | ||
Q2 EPS | C$5.35 | ||
Q2 Net Income | C$149.70 mln | ||
Q2 Adjusted Combined Ratio | 95.3% | ||
Q2 Adjusted Underwriting Result | C$63.90 mln | ||
Q2 ROE | 21.8% |
Press Release:
