Eq­ui­table Life re­ports record prof­its in 2017

Waterloo Region Record - - Business -

WATER­LOO — Eq­ui­table Life has re­ported record prof­its of $106 mil­lion in 2017. That’s up 33 per cent from earn­ings of $80 mil­lion in 2016. The Water­loo-based fi­nan­cial ser­vices com­pany, which at­trib­uted the strong re­sults to busi­ness growth, in­vest­ment gains and pos­i­tive claims ex­pe­ri­ence, said its re­turn on pol­i­cy­hold­ers’ eq­uity was 16.8 per cent. Eq­ui­table said it recorded a new high of $1.2 bil­lion for pre­mi­ums and de­posits, and topped $4.1 bil­lion in as­sets un­der ad­min­is­tra­tion. It said it had record sales of in­di­vid­ual life, and sav­ings and re­tire­ment prod­ucts of $101 mil­lion and $311 mil­lion, re­spec­tively.

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