CO-OPERATORS GENERAL INSURANCE COMPANY REPORTS FIRST QUARTER 2026 RESULTS

• The most recent release (2026-05-05) reports Q1 2026 consolidated net income of $123.4 million, up from $72.9 million in Q1 2025.
• Earnings per share increased to $4.46 from $2.64 year-over-year.
• Underwriting result improved significantly to a profit of $75.3 million, reversing a loss of $22.0 million in the prior year period.
• Combined ratio (excl. discounting) improved to 94.5% from 101.7%, indicating profitable underwriting operations.
• Direct Written Premium (DWP) grew 3.1% to $1,290.7 million, driven by home and auto lines in the West region.
• Net Investment Income decreased to $57.9 million from $97.5 million due to bond losses from rising interest rates.
• Minimum Capital Test (MCT) stands at 235%, well above regulatory requirements.

• The Q1 2026 results confirm the profitability trend established in Q3 and Q4 2025, where the company swung from losses to significant profits.
• While positive, this news is largely expected given the momentum from previous quarters (Q4 2025 Net Income was $220.6 million; Q3 2025 was $228.0 million).
• The slight deterioration in the combined ratio compared to Q4 2025 (94.5% vs 89.9%) suggests some normalization, but remains within a profitable range (<100%).
• Investment income decline is a known risk factor mentioned in previous quarters due to interest rate environments; this was priced into expectations.
• No new strategic investors or M&A activity announced; thus, it does not qualify as a "Game Changer."

• Company: Co-operators General Insurance Company operates in the Canadian property and casualty insurance sector.
• Flagship Operations: Core business lines include home, auto, and commercial insurance across Canada, with specific growth noted in the West region.
• Development: The company has successfully transitioned from underwriting losses in 2024 to consistent profitability in late 2025 and early 2026 through disciplined pricing and claims management.