Toronto, Ontario — Desjardins Group has released its Q2 2024 results, which report a 152 percent increase in its insurance operations when compared to Q2 2023.
The combined surplus earnings from the wealth management, life and health insurance and property and casualty insurance segments totalled $531 million in Q2 2024, in comparison to the $211 million surplus reported in 2023.
Additionally, in the property and casualty insurance sector, Desjardins reported a surplus value of $300 million, up significantly from the $56 million reported in Q2 2023.
According to the report, “net surplus earnings from insurance activities in this segment amounted to $460 million for the quarter, compared to $154 million in the same period last year. Direct written premiums in this segment rose to $2.1 billion, an increase of $172 million, or nine percent, year-over-year.”
The company attributes the second quarterly performance to the property and casualty insurance segment, where fewer claims and higher revenues from auto and property insurance played a key role.
To read Desjardins’ full report, click here.
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