Equitable Life reports record profits in 2017
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.