Financial Performance and Risk Management Overview
ROBUST GROWTH IN PERSONAL PROPERTY WITH IMPROVED
UNDERWRITING
TODAY
17% CAGR in annual personal property GWP(2,3) in 2019-2022
since the launch of Sonnet and Vyne (1)
2-point improvement in combined ratio (3) from 2019-2022(4)
Maintained solid underwriting income (3) from 2019-2022(4)
OUTLOOK
We expect a continuation of the firm pricing conditions prevalent
PERSONAL PROPERTY GWP GROWTH (2,3)
$200
Q1-2022
12.4% YOY
$1,013
$895
$225
$751
$632
Q1-2023
2019
2020
2021
2022
PERSONAL PROPERTY COMBINED RATIO(3)
98.6%
in the industry in recent years, the organic growth potential of our
digital platforms, and stronger broker relationships to help
maintain our growth above that of the industry
96.7%
94.4%
92.6%
91.1%
89.2%
We continue to target a mid-90s combined ratio (2) for the personal
property line of business on an annual basis
Q1-2022
(Restated)
Q1-2023
2019
2020
IFRS 4
IFRS 4
2021
IFRS 4
2022
IFRS 17
Note: Figures in millions, unless otherwise noted.
1. 3Y CAGR from 2019-2022
2. Restated under current GWP definition.
3. This is a supplementary financial measure, non-GAAP financial measure, or a non-GAAP ratio. Refer to Supplementary Financial Measures and Non-GAAP Financial Measures and Ratios advisory and Section 12-
Supplementary financial measures and non-GAAP financial measures and ratios in the Q1-2023 MD&A for further details.
4. The years 2019-2022 are under IFRS 4.
definity.
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