Equitable life has announced the results of its 2017 financial outcomes and they have exceeded its previous archives in nearly every way financially possible.
Equitable Life is one of Canada’s largest life insurance corporations who most notably had record earnings in the outlook of 106 million. This was an increase of 33% from last year’s net income which was in the 80-million-dollar bracket. Determination drove these results from business growth, positive claim experience and the investment gains.
The company had a strong capital position and participating policy holders equity which is a key measure to the insurers financial steadiness which went up approximately 18% from the 580 million in the year 2016 to a large 686 million in the year of 2017.
The equitable chief executive, Mr. Beettam, said they were proud of the gain and it reflects on the commitment of the company and the ability to navigate the changing economic environment and still be able to send off excellent results. The life insurance company gained a high of 1.2 billion for deposits and premiums and exceeded 4. 1 billion on the assets that are under administration. Once again their portfolio has performed impressively providing the companies stability. Growth has come by the sales that measured by the new annual premiums and the deposits. The individual life and critical illness insurance had an outstanding year with their sales of around 101 million which became an 8. 2% increase for the year 2016. Group benefits were finished at just 45 million which was a gain of 11.9% over that year. The company head into the new year with confidence and the determination to continue their profitable growth. Commitment and drive were seen in the company’s goals and from that these results were possible.
The 2017 highlight were
- Capital strength ended the year at a 231%
- Net income sitting at 106 million with a policyholders return equity of 16. 8%
- Deposits and premiums had increased from 14. 6% up to 1. 2 billion
- Assets that were in the administration had grown 11. 0% to a 4. 1 billion
- Payments to policyholders were at 694 million
Many have turned to Equitable since 1920. They are for the customers which is what matters the most. They work with individual advisors to be able to bring individual insurance, group benefits, savings and retirement solutions. Equitable have the knowledge to be able to continuously increase their financial stability. With the company being owned by participating policyholders instead of the shareholders this can allow them to focus on the customers interested to provide security, wellbeing and a personalized service to each individual.
Equitable is about recreating the policyholder value and looking after over 300,000 investments and savings. With the 240-staff located in London and Aylesbury who are all dedicated to doing what is right for the company and the people. The 2017 financial report says how successful and positive it is to be able to have so much gain in one year.