MONTRÉAL, May 04, 2020 (GLOBE NEWSWIRE) -- Optimum Financial Group presented once again excellent financial results at Optimum Group Inc.'s annual shareholders' meeting on April 30, 2020, with respect to its 2019 financial year.
The Group, whose 2019 year marked its 50th anniversary, continued its growth and achieved revenues of more than one billion dollars for the first time in its history. The shareholders' return on equity reached more than 11% and written premiums progressed by 10% in 2019, while total assets grew by 13%.
Furthermore, asset management in Canada, France and the United States totaled nearly 8 billion dollars of assets under management as of March 31, 2020.
"The rigorousness of our teams, combined with the performance of our subsidiaries, notably in the sectors of life reinsurance, general insurance and life insurance, have particularly contributed to our success this year," commented Anabelle Blondeau, President and Chief Executive Officer.
"Determined to pursue our international development in asset management, we completed in 2019 the acquisition of the assets of a US-based asset management firm and added its team of managers to our teams in Montreal and Paris," continued Ms. Blondeau.
During the financial year, the AM Best agency upgraded from "A-" to "A" (Excellent) the financial strength rating of the group's two rated insurance sectors, life reinsurance and property and casualty insurance.
Optimum Financial Group has also bestowed the 2019 Optimum Enterprise Award to Optimum General Inc. for having increased its revenues and improved its profitability, which resulted in a return of 14.5% on its equity value in Optimum Group inc. This annual award recognizes the exceptional contribution of a subsidiary to the Group's overall performance.
About Optimum General Inc.
Since 1976, the team provides insurance to Canadians from its offices located in Québec, Ontario, Manitoba, Alberta and British Columbia. Optimum General Inc. is a Canadian holding active through its three companies: Optimum Insurance Company Inc., Optimum West Insurance Company Inc. and Optimum Farm Insurance Inc. Optimum General Inc., Canadian-owned, is a subsidiary of Optimum Group Inc., a private and diversified financial group with international operations.
www.optimum-general.com
About Optimum Financial Group
Since 1969, Optimum Group's team of experts has been working to preserve the financial security of its customers. Global and privately-owned, it is diversified in the sectors of life insurance, general insurance, life reinsurance, actuarial consulting, asset management, information technologies and real estate. The Group has more than 600 employees in subsidiaries mainly across Canada, in the United States and in France. Its revenues generate more than one billion dollars and its total assets amount to 5,4 billion dollars. www.optimumgroup.com
For further information, please contact:
Louis Fontaine
Senior Vice President, Legal Affairs and General Secretary
Optimum Group Inc.
+1 514 288-2010