Financial Performance and Risk Management Overview
DRIVING PROFITABLE GROWTH IN PERSONAL AUTO BY
LEVERAGING DIGITAL ASSETS AND BROKER RELATIONSHIPS
TODAY
7% CAGR in annual personal auto GWP(2,3) in 2019-2022 since
the launch of Sonnet and Vyne (1)
17-point improvement in combined ratio (3) from 2019-2022(4)
$340
PERSONAL AUTO GWP GROWTH (2,3)
5.3% YOY
$1,579
$1,453
$358
$1,350
$1,285
$217M increase in underwriting income (3) from 2019-2022(4)
Q1-2022
OUTLOOK
We continue to expect our personal auto combined ratio (2) to
trend into the higher end of our mid to upper 90s target range
in the near term, as inflationary pressures persist, and claims
frequencies continue to normalize ahead of our rates fully
earning into results
Note: Figures in millions, unless otherwise noted.
1. 3Y CAGR from 2019-2022
2. Restated under current GWP definition.
Q1-2023
2019
2020
2021
2022
PERSONAL AUTO COMBINED RATIO(3)
100.9%
96.2%
111.7%
96.4%
94.7%
91.2%
Q1-2022
(Restated)
Q1-2023
2019
2020
IFRS 4
IFRS 4
2021
IFRS 4
2022
IFRS 17
3. This is a supplementary financial measure, non-GAAP financial measure, or a non-GAAP ratio. Refer to Supplementary Financial Measures and Non-GAAP Financial Measures and Ratios advisory and Section 12-
Supplementary financial measures and non-GAAP financial measures and ratios in the Q1-2023 MD&A for further details.
4. The years 2019-2022 are under IFRS 4.
definity.
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