2025 financial results: Beneva maintains its strong momentum and reinforces its position in the industry

QUEBEC CITY, April 23, 2026 /CNW/ - Building on its five years of existence, Beneva is strengthening its position as a robust, high-performing mutual focused on people. The company continues to grow with a methodical and consistent approach, driven by a commitment to make a positive and lasting impact on its members and the community. Beneva stood out once again in 2025 with strong financial results, presented at its annual meeting held today.

Highlights as at December 31, 2025

• Consolidated net income of $673.8 million, up 14.4% from the previous year
• Consolidated return on equity of 14.9%, compared to 15.2% in 2024
• Consolidated asset of $29.2 billion, up 6.2%
• Consolidated equity of $4.9 billion, up 16.7%
• Solvency ratio of 163%, compared to 150% the previous year.

Across all insurance segments, Beneva recorded a remarkable business volume in 2025, reaching $7.6 billion, representing an increase of 7.7% compared to 2024. New business in insurance totalled $698.5 million, up 26.6%. Funds under management totalled $14.3 billion, an increase of 7.2%.

"We're very proud to present excellent financial results for 2025. Once again, Beneva generated significant value for its members. In an environment where innovation and agility remain essential, we deployed key initiatives to enhance our offering, strengthen operational excellence and elevate our members' and partners' experience. We're also proud to have put all the necessary building blocks in place for the merger with Gore Mutual. 2025 was a pivotal year, and I'd like to express my deepest gratitude to everyone who contributed to Beneva's success," said Jean-François Chalifoux, President and CEO of Beneva.

Completion of the merger with Gore Mutual
A defining milestone of 2025 was the January announcement of the proposed merger between Beneva and Gore Mutual. Over the course of the year, teams working on the merger obtained all the required approvals, confirming the strength of the project and the support of the various key stakeholders. Officially completed in January 2026, the union will further strengthen an already diversified and financially robust organization, positioning it even more effectively to deliver an enhanced value proposition in property and casualty insurance. It will also help ensure the long‑term sustainability of the mutual model within Canada's insurance industry.

Accelerating the sustainable transition through concrete actions
Throughout the year, Beneva continued to advance initiatives to fulfil its commitment to community well‑being and to support a just transition toward a greener, more inclusive and resilient world. Notably, over the past four years, the company reduced the carbon footprint of its buildings and vehicle fleet by 51% and decreased the carbon intensity of its internally managed portfolio by 39% compared to 2021. In addition, Beneva continues to strengthen member resilience through the launch of the Rebuild Better endorsement, a financial support initiative designed to encourage sustainable rebuilding following a loss.

Beneva's annual report is available on the Financial information page and its impact report on the Sustainability page.

About Beneva
Beneva is the country's largest mutual insurance company, with 3.8 million members and over 6,500 employees dedicated to protecting people. Its caring approach founded on human values and shared by its employees is anchored in its mutualist roots. Created by the coming together of La Capitale and SSQ Insurance in 2020, the company consolidated its pan-Canadian presence through its merger with Gore Mutual in 2026. With $30.3 billion in combined asset, it stands out for its diverse offerings in Group Insurance, Property and Casualty Insurance as well as Individual Insurance and Financial Services. Its head office is located in Quebec City. For more information, visit beneva.ca.

SOURCE Beneva

Information: Media relations, 1-866-332-3806, [email protected]