Definity Investment and Insurance Strategy Overview
FINANCIAL RESULTS
28
20
IFRS 17 IFRS 9
IFRS 4/IAS 39
Q3-2023
Q3-2022
2022
2021
2020
2019
Insurance revenue
984.1
895.9
Insurance service expenses
(932.2)
(835.7)
Net (expenses) income from reinsurance contracts held
(1.5)
30.9
Insurance service result
50.4
91.1
Net investment income
46.3
36.0
133.1
96.8
100.3
105.4
Recognized (losses) gains on FVTPL investments / Recognized (losses) gains on investments
(99.8)
(39.2)
(228.3)
(20.8)
79.8
68.3
Finance (expenses) income from insurance contracts issued
(27.5)
(2.7)
Finance income (expenses) from reinsurance contracts held
1.8
0.5
Distribution revenues
34.1
19.9
Other (expenses) income
Interest expense
Restructuring recovery
(Loss) income before income taxes
Income tax recovery (expense)
Net (loss) income
Net (loss) income attributable to common shareholders
Net income attributable to non-controlling interests
Gross written premiums (1)
(67.9)
(41.9)
26.2
(34.0)
(1.9)
(6.0)
(1.7)
(0.6)
0.8
(64.3)
43.8
305.2
281.2
200.6
21.2
18.1
(8.1)
(52.6)
(68.0)
(46.7)
(3.8)
(46.2)
35.7
252.6
213.2
153.9
17.4
(48.3)
35.7
252.0
213.2
153.9
17.4
2.1
0.6
1,040.0
954.5
3,662.3
Net underwriting revenue / Net earned premiums (1)
903.6
832.4
3,248.6
3,258.1
2,833.6
2,829.2
2,508.7
2,533.9
2,343.2
Underwriting (loss) income(1)
Net investment income
Distribution income(1)
Interest expense
Other operating (expenses) income
Operating income (loss) (1)
Operating net income (loss) (1)
(22.8)
27.1
192.3
194.5
136.4
(118.3)
46.3
36.0
133.1
96.8
100.3
105.4
11.2
1.7
14.1
8.0
4.1
3.5
(1.7)
(0.6)
(12.1)
(7.2)
(28.4)
(8.4)
1.3
(0.5)
20.9
57.6
310.5
290.9
242.1
(9.9)
17.6
45.8
238.9
220.4
184.4
(5.4)
Note: Figures in millions, unless otherwise noted.
1. 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 Q4-2022 MD&A and Q3-2023 MD&A for further details.
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