Tuesday, March 5, 2024

Assumption Life delivers the best financial results in its history

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Maria Gill
Maria Gill
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I am very proud to announce that the result of 2021 is the best in the history of the company.said Michelle Allen, vice president, chief financial officer and chief actuary.

Mr. Allen presented the 2021 financial results as part of the annual general meeting held online on Friday morning.

Results for the year show that total revenue of $167.2 million versus total expenses of $153.4 million resulted in net results for the year of $9.7 million, of which 9.5 million belonged to policyholders.Michael Allen said.

Sebastien Dubuis has been the CEO of Assumption Life since January 1, 2019.

Photo: Courtesy: Assumption Life

This is the record for Acadian works.

The achievement of this historical record is largely due to our clients, partners and communities who inspire us daily to excel ourselves.Says President General Manager Sixth Assumption, Sebastien Dupuy. He adds that the employees demonstrated Fitness and innovation and one Exceptional adaptability.

Other Highlights of 2021

The company manages $2.1 billion in assets, an increase of 4% compared to 2020.

The main factor contributing to this increase was the increase in net assets and liabilities of separate funds by about $62.5 million. The progress of our mortgage loan portfolio also represents an increase of $11.6 millionMichael Allen said.

Liabilities amount to $1.98 billion. This represents an increase of 3.6% over the previous year.

Shareholders’ equity amounted to $165.7 million, of which $161.8 million was in shareholders’ equity, an increase of 7.2%.

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Solvency ratio is now 156%, ie About Me[e] That the company can handle contingencies in the range of 78.8 million, while respecting the minimum requirements 100%Michael Allen said.

community support

Sebastien Dubuis added that the company has awarded scholarships to four educational institutions and 19 students in 2021.

It has also supported more than 90 community organizations and initiatives across the country, including the Foundation’s Tour de l’espoir. University Hospital Center Dumont, a fundraiser for a community health center co-op ininkermanand Canadian Red Cross to help disaster victims in British Columbia, etc.

Another record, confirmed by Sébastien Dupuis, the annual Assumption Life golf tournament, in August 2021, raised more than $100,000 for the Atlantic Cancer Research Institute.

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