La Capitale experiences one of its strongest results in the past decade

Quebec-based La Capitale Civil Service Mutual announced on Thursday that it has achieved a consolidated net profit of $73.1 million, amid a business environment characterized by persistent low interest rates and market volatility.

A statement from the company said that this profit was an increase of 12.1%, one of its best results in the past decade. Consolidated income from property and casualty and life and health insurance reached $2.2 billion over the fiscal year, while assets totalled $5.5 billion, an increase of 12.7% over 2013.

Its p&c insurance division – which includes LaCapitale General Insurance, L’Unique General Insurance and Unica Insurance – ended 2014 with a net profit of $37.1million, the company reported. The three companies enjoyed a consolidated gross written premium amount of $859.8 million, representing an increase of 5.8% from the previous year, of which 13.3% was commercial insurance.

“Beyond the negative or positive repercussions of climatic conditions and the return on investments, the property and casualty insurance sector’s performance in 2014 stems from structuring projects with regard to underwriting, pricing, cost reduction and claims management,” said Constance Lemieux, president and chief operating officer of the property and casualty insurance division, in the statement. [click image below to enlarge]

La Capitale Civil Service Mutual achieved a consolidated net profit of $73.1 million

La Capitale Finacial Groupe Inc. has more than 2,560 employees and offers insurance products and financial services to the general public as well as to Quebec public service employees.