Participating policyholder dividends increase 27 per cent over prior year.

The company that operates Economical and Sonnet, among other insurers, reports its fourth quarter 2022 results.

Valuations decline five-fold but 2022 still the second-best year on record for deal volume.

After passing the $3 billion mark in 2021, the insurer kept the momentum in 2022, bolstered by Q4 results.

The insurer’s net income fell to $3 billion in 2022. Growth was limited to the U.S. market.

For all of 2022, net income was $2.4 billion and direct premiums written passed the $21 billion mark.

Funds achieve five-year annualized net returns of 8.1 per cent.