MONTREAL – Desjardins Financial Security, the insurance and retirement plan subsidiary of Quebec’s largest financial institution, said its second-quarter profit increased to $58.8 million from $48.4 million a year earlier.
The co-op said it sold $31.2 million more in savings products, for a total of $603.3 million, mainly due to the retirement savings plans.
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Insurance sales grew slightly to $108.5 million, up from $107.3 million, with insurance premiums growing to $54.1 million to $760.8 million.
Earlier this month, the Desjardins Group reported that its second-quarter profits before member dividends decreased 14.3 per cent to $353 million.
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