Common shareholders' net income of $32 million (compared to net income of $35 million)
Earnings per share (basic and diluted) of $32.66 (compared to $35.94)
KINGSTON, ON , July 30, 2025 /CNW/ - The Empire Life Insurance Company (Empire Life) reported second quarter Common shareholders' net income of $32 million, a decrease of $3 million compared to the second quarter of 2024. The decrease was driven by a lower Net investment and insurance finance result and a decrease in Fee and other income. These decreases were slightly offset by an improved Net insurance service result, related to favourable mortality experience in the Individual Insurance segment and improved claims experience in Group Solutions.
"We remain focused on responsible capital and liquidity management to ensure the efficient use of resources and drive shareholder value," says Mark Sylvia, President and Chief Executive Officer. "Our focus on financial stability is reflected in our recent upgraded ratings from DBRS Morningstar to A (high) from A thanks in part to our diversified earnings power and access to distribution."
Financial highlights
Second Quarter
Year to Date
(in millions of dollars except per share amounts)
2025
2024
2025
2024
Common shareholders' net income (loss)
$ 32
$ 35
$ 102
$ 87
Earnings per share - basic and diluted
$ 32.66
$ 35.94
$ 103.76
$ 88.80
Jun 30
Mar 31
Dec 31
Sep 30
Jun 30
Other Financial Highlights
2025
2025
2024
2024
2024
Return on common shareholders' equity(1)
17.6 %
18.1 %
17.4 %
24.0 %
12.7 %
LICAT total ratio
142 %
140 %
151 %
154 %
152 %
(1)
See Non-IFRS measures section.
The following table provides a summary of Empire Life results for the three and six months ended June 30, 2025 and 2024.
For the three months ended
For the six months ended
(in millions of dollars)
June 30, 2025
June 30, 2024
June 30, 2025
June 30, 2024
