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Below are the financial statements of Definity Financial, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
Below are the financial statements of Definity Financial, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of CAD | 2024 | 2023 |
|---|---|---|
| Insurance revenue | 4,258.4a | 3,850.3a |
| Insurance service expenses | -3,672.8a | -3,377.1a |
| Net expenses from reinsurance contracts held | -105.3a | -48.8a |
| Insurance service result | 480.3a | 424.4a |
| Net investment income | 198.2a | 179.5a |
| Recognized gains on FVTPL investments | 214.4a | 151.8a |
| Investment income | 412.6a | 331.3a |
| Finance expenses from insurance contracts issued | -166a | -152.4a |
| Finance income from reinsurance contracts held | 14.5a | 13.3a |
| Net insurance financial result | -151.5a | -139.1a |
| Net insurance and investment result | 741.4a | 616.6a |
| Distribution revenues | 186a | 127.4a |
| Other expenses | -339.1a | -271.5a |
| Interest expense | -9.6a | -5.3a |
| Income before income taxes | 578.7a | 467.2a |
| Income tax expense | -143.8a | -112.7a |
| Net income | 434.9a | 354.5a |
| Net income attributable to | — | — |
| Common shareholders | 430.4a | 350.1a |
| Non-controlling interests | 4.5a | 4.4a |
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