November 28, 2014 1:38 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 1945

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 2014.

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, 2014

Desjardins General Insurance Group Inc. announced consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income of $63.0 million, up 38.8% from the corresponding period in 2013. Direct written premiums increased 5.8% to $581.9 million, the result of multiple growth initiatives across all market segments and regions. Return on equity was 20.9%, compared to 17.6% in 2013. For the nine months, the company reported net income was $129.2 million, up 13.9% from the same period in 2013. The ROE was 14.6%, compared to 15.2% in 2013. This decrease was largely due to the transaction and integration costs incurred as part of the acquisition of State Farm's Canadian operations. Direct written premiums increased by 5.7% to $1,709.5 million, while the number of policies-in-force grew by almost 88,000 to 2,257,000 since the beginning of the year.

Desjardins General Insurance Group Reports Financial Results for the First Quarter Ended March 31, 2014

Desjardins General Insurance Group (DGIG) reported financial results for the first quarter ended March 31, 2014. For the period, the company posted a net income of $16.7 million compared to $25.4 million for the same period in 2013. The drop in profitability was primarily due to $17.9 million in transaction and integration costs incurred as part of the acquisition by Desjardins of State Farm's Canadian operations. Direct written premiums in the quarter increased by 6.0% to $511.2 million compared to $482.4 million or the same period in 2013. This organic growth was achieved despite the soft market conditions in much of the country. Return on equity was 5.9% compared to 10.9% for the same period in 2013.

Desjardins General Insurance Group Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Desjardins General Insurance Group reported earnings results for the fourth quarter and full year ended December 31, 2013. For the year ended December 31, 2013, Desjardins General Insurance Group posted a net income of $195.2 million, compared to $181.1 million in 2012, an increase of 7.8%. Return on equity was 19.0%. Direct written premiums increased by 6.7% to $2,112.1 million. The fourth quarter was very positive, with net income of $81.8 million, an increase of 35.2% compared to the same period in 2012. In addition, direct written premiums increased by 8.1% from the corresponding quarter in 2012 due to increased marketing activity and the impact of the Ajusto and Intelauto usage based insurance programs.

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