Desjardins Financial Security (DFS) reported net income of $194.8 million for the first six months of 2014, compared to $191.7 million for the same period in 2013.
DFS, a subsidiary of Desjardins Group, also posted a 4.6% increase in gross insurance premium income, which totalled $1.8 billion compared to $1.7 billion in the first half of 2013.
The company’s positive mid-year performance was due in part to the favourable financial markets and improved returns on investment.
Insurance sales totaled $246.2 million for the first half of the year, compared to $271.6 million for the same period in 2013. Savings product sales totalled $1.1 billion, compared to $1.6 billion the previous year.
Assets under management and administration were up 12.5%, standing at $39.7 billion as of June 30, 2014, compared to $35.3 billion the previous year.
“Our results are a clear indicator of our clients’ satisfaction with our insurance and savings products,” says president and CEO Denis Berthiaume.
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