(in Canadian dollars except as otherwise noted)

TORONTO, Nov. 9, 2023 /CNW/ - (TSX: DFY)

Highlights

Executive Messages

"Severe storms and wildfires affected communities across the country this summer, and our catastrophe response teams stepped up for our customers. While these events had a significant impact on our underwriting performance, we continued to leverage our strong broker proposition to drive solid overall premium growth of 9%. Our efforts to diversify and strengthen the earnings profile of the business were evidenced by strong commercial insurance results and a growing contribution from our insurance broker platform. Overall, we delivered a solid underlying performance, which, combined with robust net investment income, resulted in third quarter operating net income of $17.6 million, or $0.15 per share. We closed the acquisition of Drayden Insurance Ltd. in early October, providing our McDougall operations with immediate scale and market leading presence in Alberta. In 12 months, we have built an insurance broker platform approaching one billion dollars in annual premiums which complements our underwriting operations."
– Rowan Saunders, President & CEO