The big three insurers in the Canadian market accounted for 74.2% of total insurance revenues in Canada in 2023.

The six largest P&C insurers together held 53.8% of the market share.

Net income declined 29% in the fourth quarter of the fiscal year, ending October 31, 2024.

The company reported a decline in net income from insurance business, both in the last quarter and for the full year.

The bank also reported an increase in its insurance segment profits.

The company posted a loss in the third quarter of 2023.

Catastrophe losses in the summer of 2024 had an impact on general insurance results in the third quarter.