E-L Financial Corp Ltd

Latest Results (08.04.2026):

E-L Financial Corp Ltd (E-L Financial Corporation Limited) — Third quarter 2025: The company reported a net equity value per common share of $24.86 as at September 30, 2025 and consolidated shareholder’s net income of $570 million ($1.68 per common share) for Q3 2025, up from $497 million ($1.47) in Q3 2024. For the first nine months of 2025, consolidated net income was $1,021 million ($3.00 per common share) versus $1,277 million ($3.76) in the same period of 2024. All per-share figures have been adjusted for a 100-for-1 share split approved May 7, 2025.

Net equity value

Net equity value per common share was $24.86 at September 30, 2025, up 6% from $23.36 at December 31, 2024 and up 10% from $22.62 at September 30, 2024.

Consolidated results — Q3

Consolidated shareholder’s net income for Q3 2025 was $570 million ($1.68/share) compared with $497 million ($1.47/share) in Q3 2024.

Consolidated results — Year-to-date

For the first nine months of 2025, consolidated net income totaled $1,021 million ($3.00/share), down from $1,277 million ($3.76/share) in the first nine months of 2024.

E-L Corporate — Q3 drivers

E-L Corporate reported Q3 net income of $477 million versus $321 million a year earlier. The increase reflected a higher net gain on investments ($581 million in Q3 2025 vs $325 million in Q3 2024); the segment’s global investment portfolio delivered a pre-tax total return of 8% in the quarter (vs 5% prior year).

E-L Corporate — Year-to-date drivers

Year-to-date E-L Corporate net income was $827 million versus $1,013 million in 2024, driven by a lower net gain on investments ($884 million vs $1,169 million) and a portfolio pre-tax total return of 15% (vs 20% prior year).

Empire Life — Q3 and YTD

Empire Life reported Q3 net income of $93 million (down from $176 million in Q3 2024), with weaker year-over-year net investment and insurance finance results and less favourable prior-period assumption updates. Year-to-date net income was $194 million versus $264 million in 2024. Empire Life’s Life Insurance Capital Adequacy Test ratio was 145% at September 30, 2025 (151% at December 31, 2024) and total assets under management were $20 billion as at September 30, 2025.

Share split and non-GAAP measures

The company completed a 100-for-1 share split in May 2025 and has retroactively adjusted all common share counts and per-share amounts. E-L Financial discloses and uses non-GAAP measures such as net equity value per common share and assets under management to supplement IFRS reporting.