Financial performance and position
Our financial stability enables us to deliver positive outcomes for society and respond to the changing needs of our people and communities.
Co-operative strength and financial stability
“Our co-operative identity fundamentally shapes how we approach financial strength and stability. As a co-operative, we prioritize long-term sustainability while carefully balancing short-term results to ensure continued member value and financial stability.”
Karen Higgins, Chief Financial Officer
We delivered strong financial results, reflecting the resilience of our co-operative business model and the disciplined management of our strategy. Record profitability was driven by improved underwriting performance, strengthened market conditions and effective expense management across our enterprise.
Our pursuit of profits is not viewed as an end in itself, but as a means to advance our purpose.
In 2025, our total assets were $22.4 billion; our total liabilities were $16.3 billion; and our total equity was $6.1 billion.
Total assets grew by more than eight percent, while our total equity increased by over 14 percent, reinforcing our strong financial position.
In 2025, our total revenue was $7,900.5 million; our total expenses were $7,205.2 million; and our net income was $695.3 million.
2025’s profitability was mainly led by our P&C operations, which had lower-than-average major event losses – following a record year in 2024 – and favourable development on prior years’ claims.
Capital position
Delivering on our purpose depends on maintaining a healthy capital. In 2025, our capital position was well above the minimum threshold, demonstrating our deep commitment to Canadians and our communities.
224% was Co-operators General Insurance Company’s Consolidated Minimum Capital Test. The Office of the Superintendent of Financial Institutions Supervisory Minimum Capital Test Target is 150%.
160% was Co-operators Life Insurance Company’s consolidated Life Insurance Capital Adequacy Test. The Office of the Superintendent of Financial Institutions Supervisory Life Insurance Capital Adequacy Test target is 100%.
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