MONTRÉAL, May 6, 2024 /CNW/ - Optimum Financial Group announced exceptional financial results for 2023 at the Optimum Group Inc.'s annual shareholders' meeting on April 30, 2024.
The Group continues its profitable growth, with revenues exceeding 1.3 billion Canadian dollars and a return on equity of 15%. In addition to excellent financial returns, to which our global asset management subsidiaries made a significant contribution, our results were marked by the excellent loss ratio in property and casualty insurance in Canada as well as the improved profitability of life reinsurance in the United States.
Assets under management in Canada, the United States and in France totalize nearly 8 billion Canadian dollars to December 31, 2023. This result is a reflection of our sound asset management for the benefit of our clients and the integration of ESG factors into our security selection in line with our responsible investment philosophy and our corporate values.
"We thank our clients and partners and express our gratitude for their trust; we are dedicated to creating continued added-value through our expertise and personalized approach. I would also like to thank our dedicated employees. Attracting, retaining and developing talent remain at the heart of our mission", said Anabelle Blondeau, Vice Chair of the Board and President and Chief Executive Officer, Optimum Group Inc.
"To achieve our vision for the future and increase our clients' financial security, we notably rely on rigor and empirical creativity. We will continue our measured growth much like the nautilus, our symbol, which adds new and larger chambers to its shell at the pace of its growth while ensuring the perennity of the existing chambers. Technological innovation in business intelligence and predictive analytics also allows us to better serve our clients", she concludes.
Optimum Financial Group has bestowed the 2023 Optimum Enterprise Award to Optimum General Insurance for its profitable business growth, both in terms of number of policies in force and gross revenues. This company also distinguished itself by achieving an excellent combined loss and expense ratio, one of the best in the industry. This annual award recognizes the exceptional contribution of a subsidiary to the Group's overall performance.
Optimum Financial Group is dedicated to the financial security of its clients since 1969. Global and privately-owned, it is active in the sectors of actuarial consulting, global asset management, general insurance, information technology, life insurance, life reinsurance, and real estate. The Group has over 685 employees within diverse subsidiaries operating in 20 business places in Canada, the United States and in France. Its revenues exceed 1.3 billion Canadian dollars, its assets under management in Canada, the United States and in France totalise nearly 8 billion Canadian dollars and its total assets rise up to nearly 6 billion Canadian dollars.
SOURCE Groupe Optimum inc.
Stéphanie A. Berthiaume, Assistant Vice President, Communications, Optimum Group Inc., + 1 514 288-2010, [email protected]
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