Overview

* Co-operators General Insurance reports Q3 net income of C$228 mln, reversing prior year's loss

* Co reports EPS of C$8.35, compared to loss of C$1.71 last year

* Net insurance revenue for Q3 grows 15.5% yr/yr, showing strong business growth

Outlook

* Company did not provide specific guidance for future quarters or full year

Result Drivers

* UNDERWRITING PERFORMANCE - Improved underwriting performance contributed to net income growth, driven by decreased claims and adjustment expenses

* INVESTMENT RETURNS - Strong investment returns supported financial results, with net investment income and gains increasing by C$7.0 mln

* PREMIUM GROWTH - DWP and NIR growth driven by higher average premiums and new business in auto and home lines

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net C$1.41

Insuranc bln

e

Revenue

Q3 EPS C$8.35

Q3 Net C$228

Income mln

Q3 90.00%

Adjusted

Combined

Ratio

Q3 C$141.40

Adjusted mln

Underwri

ting

Result

Q3 ROE 32.30%

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)