Zhi Tong Cai Jing·2026-02-12 00:23Core Insights - The company reported a record core profit of CAD 7.5 billion for the year 2025, representing a 3% increase compared to 2024 on a constant currency basis [1] - The fourth quarter core profit reached CAD 2 billion, up 5% from the same quarter in 2024 [1] - The net income attributable to shareholders for 2025 was CAD 5.6 billion, an increase of CAD 200 million from 2024, while the fourth quarter net income was CAD 1.5 billion, down CAD 100 million from the fourth quarter of 2024 [1] Financial Performance - The core EPS for 2025 was CAD 4.21, an 8% increase from 2024, with the fourth quarter core EPS at CAD 1.12, up 9% year-over-year [1] - The core ROE for the full year and fourth quarter were 16.5% and 17.1%, respectively [1] - APE sales increased by 14% for 2025 compared to 2024, while new business CSM rose by 28% and new business value increased by 18% [1] - In the fourth quarter of 2025, APE sales decreased by 1% compared to the same quarter in 2024, while new business CSM grew by 21% and new business value increased by 8% [1] Strategic Initiatives - The CEO highlighted 2025 as a significant year for the company, achieving record core profits and executing targeted strategic investments [2] - The company recorded over 20% growth in new business CSM across all insurance segments, establishing a solid foundation for future profitability [2] - Strategic moves included the acquisition of Comvest Credit Partners, a joint venture with Mahindra to enter the Indian life insurance market, and the establishment of a high-net-worth client office in Dubai [2] - The company was recognized as the top life insurer in AI maturity and responsible innovation, reflecting its commitment to becoming an AI-driven enterprise [2]