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February 08, 2016 7:06 PM ET

Insurance

Company Overview of Desjardins General Insurance Group Inc.

Company Overview

Desjardins General Insurance Group Inc., through its subsidiaries, provides a range of direct property and casualty insurance products to the general public and businesses in Quebec, and members of partner groups across Canada. It offers automobile insurance products that cover for party liability, accident benefits, direct compensation property damage, uninsured driver and optional coverage, collision, family protection, and loss of use; and property insurance products for all risks and basic coverage. The company also provides motorcycle and recreational vehicle insurance that covers for all-terrain vehicles, snowmobiles, trailers, motor homes, boats, and personal watercraft; and business ...

6300, Boulevard de la Rive-Sud

Levis, QC G6V 6P9

Canada

Founded in 1944

Phone:

418-835-4850

Fax:

418-835-5599

Key Executives for Desjardins General Insurance Group Inc.

President and Chief Operating Officer
General Manager
Compensation as of Fiscal Year 2015.

Desjardins General Insurance Group Inc. Key Developments

Desjardins General Insurance Group Inc. Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Desjardins General Insurance Group Inc. announced consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported a net loss of $32.0 million was recorded compared to a net income of $63.0 million for the same period in 2014. This was largely due to the recognition, in the statement of income, of unrealized losses on investments as a result of the decline in financial markets during the quarter. Negative ROE was 8.6% against 20.9% a year ago. Direct premiums written of $1,063.5 million, an important increase compared to $581.9 million in the third quarter of 2014. For the nine months, the company reported net income was $226.5 million, up 75.3% from the same period in 2014. The ROE was 15.6% compared to 14.6% a year ago. Direct premiums written increased by 81.6% to $3,105.2 million from $1,709.5 million reported last year.

Desjardins Group to Open Two New 360d Centers Near Concordia University and UQAM

Desjardins Group announced opening of two new 360d centers near Concordia University and UQAM. These specialized service centers will reach over 90,000 university and college-level students.

Desjardins General Insurance Group Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Desjardins General Insurance Group announced consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported a net income of $184.8 million compared to $49.4 million in the corresponding period in 2014. Direct written premiums were $1,133.1 million, up from $616.4 million in the same quarter in 2014. Both increases reflected the addition of State Farm's Canadian P&C insurance operations. Return on equity was 39.3% compared to 17.1% a year ago. For the first six months, net income was $258.5 million, up from $66.2 million in the same period in 2014, while direct written premiums increased from $1,127.6 million in 2014 to $2,041.8 million this year. Half year net income included a $55.1 million non-taxable gain on business acquisition which, net of associated charges recognized in the period, had a $32.6 million after-tax impact on cumulative results. Excluding these items and costs related to integration of State Farm P&C operations, DGIG's net income would have been $243.6 million. Return on equity was 28.1% compared to 11.5% a year ago.

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