Canadian life insurer E-L Financial's Q3 net income falls

E-L Financial

Tue 22:50

Overview
Canada investment and insurance holding firm's Q3 net equity value per share rose 1.9% qtr/qtr
Q3 net income fell sharply year-over-year
Insurance unit Empire Life posted a net loss, citing unfavorable interest rate impacts

Outlook
Company did not provide specific guidance for current or future quarters in press release

Result Drivers
INTEREST RATE IMPACTS - Empire Life attributed its Q3 net loss to unfavorable impacts from interest rate movements
HIGHER EXPENSES - Empire Life said higher expenses from strategic initiatives partially offset insurance service gains

Company press release: ID:nCNWmzxyVa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
C$0.58
 
Q3 Net Income
 
C$199 mln
 

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Nov 9 - Canada's Co-Operators General Insurance swings to Q3 loss on higher claims
Nov 10 - Canada's Dundee Corp Q3 profit falls on higher expenses

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)