In releasing its financial results on February 24, Desjardins Group reported net surpluses of $1.8 billion (B) for the full 2025 fiscal year across its property and casualty insurance, wealth management and life and health insurance activities.
This represents an increase of $102 million (M), or 6 per cent, over the $1.7 B reported for the full 2024 fiscal year.
Property and casualty insurance
For the full 2025 fiscal year, net surpluses in property and casualty insurance totalled $1.1 B, down $21 M, or 2 per cent, compared with net surpluses for fiscal 2024.
For the full year, the net insurance service result reached $1.9 B in 2025, up $36 M, or 2 per cent, compared with fiscal 2024.
Regarding the industry environment, the co-operative notes in its management report that claims frequency stabilized in 2025 in automobile insurance compared with the previous year. It also highlights lower costs related to vehicle theft in Ontario and Quebec.
For the full year, direct written premiums reached $8 B, up $431 M, or 6 per cent, compared with fiscal 2024.
Wealth management and life and health insurance
In the Wealth Management and Life and Health Insurance segment, surpluses reached $756 M in 2025, compared with $633 M in 2024. This represents an increase of 19 per cent.
Desjardins Group mainly attributes the net insurance finance result increase to favourable financial market performance, which contributed positively to the segment’s results. In the fourth quarter of 2025, net surpluses increased by 135 per cent compared with the same period in 2024 in wealth management and life and health insurance, again due to favourable financial market performance.
In its management report, Desjardins mentions the acquisition of Guardian Capital announced in August 2025. This transaction is expected to close by the end of March.
Claims
The discounted combined ratio was 86.7 per cent in 2025, compared with 84.9 per cent for fiscal 2024.
In property and casualty insurance, the undiscounted loss ratio stood at 62.8 per cent in 2025, compared with 64.6 per cent in 2024. The expense ratio rose from 25 per cent in 2024 to 26.6 per cent in 2025.
The catastrophe and major event loss ratio was 2.2 per cent in 2025, compared with 7.8 per cent in 2024. The onerous contract loss ratio reached 0.7 per cent in 2025.
As at December 31, 2025, Desjardins’ total assets reached $510 B. This represents an increase of 8 per cent compared with the $471 B reported as at December 31, 2024.
