Financial performance

2023 financial performance overview

Our financial performance and capital position are core to our success. At the same time, our financial success needs to position us to drive positive societal outcomes and meet the changing needs of our members and clients, our workforce and our communities. In other words, we pursue profit to meet our purpose.

Our financial strength can drive positive societal outcomes.

2023 Financial position summary

Total assets $19.1 billion


Total liabilities $14.2 billion


Total equity $4.9 billion

2023 Income statement overview

Total revenue $6,649.8 million


Total expenses $6,401.1 million


Net income $248.7 million

We put our capital to work for Canadians

Core to our ability to deliver on our purpose is ensuring that we have the capital necessary to fulfil our promise to Canadians as an insurer, an investor and as a co‑operative.

Photo of Lesley Christodoulou

“A strong capital position enables us to champion a more sustainable, resilient society, and prove that investments can generate compelling returns alongside social and environmental benefits. In this way, our capital strength has a direct link into the strength of our communities.”

Lesley Christodoulou
Vice President of Finance and Chief Accountant

Co-operators General Insurance Company Consolidated Minimum Capital Test (MCT)


The Office of the Superintendent of Financial Institutions Supervisory MCT Target: 150%

Co-operators Life Insurance Company Consolidated Life Insurance Capital Adequacy Test (LICAT)


The Office of the Superintendent of Financial Institutions Supervisory LICAT Target: 100%

Get the full picture of our financial performance (pdf)