Solar Life Monetary Inc. earns $858M in first quarter; raises dividend

TORONTO – Solar Life Monetary Inc. says it earned $858 million within the first quarter of this 12 months, down eight per cent from the $937 million it earned within the first quarter of 2021.

The Toronto-based insurer says its earnings per share for the interval ended March 31 work out to $1.46, down from $1.59 per share in the identical interval of 2021.

Solar Life’s insurance coverage gross sales within the quarter have been $799 million, up from $730 million within the prior 12 months’s quarter.

For its Canadian enterprise section, Solar Life Monetary Inc. reported internet earnings of $263 million, down 35 per cent from 2021.

It attributed the discount to modifications in rates of interest and decrease fairness markets, partially offset by a rise within the worth of actual property investments.

Solar Life elevated its dividend Wednesday by three cents per share to 69 cents per share, payable June 30, 2022, to shareholders of document on the shut of enterprise on June 1.

This report by The Canadian Press was first printed Could 11, 2022.

Firms on this story: (TSX:SLF)


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