For the three months ended March 31, 2026, E-L Financial reported a consolidated shareholders' net income of $32 million or $0.09 per common share compared to $86 million or $0.24 per common share as at March 31, 2025.
E-L CorporateE-L Corporate reported net income of $26 million for the first quarter of 2026 compared to $16 million in 2025. The increase in earnings was due to a higher share of income from associates of $56 million for the first quarter of 2026 compared to $1 million in 2025. E-L Corporate's global investment portfolio had a pre-tax total return, including dividend income, of negative 1% in 2026 compared to a pre-tax total return of 1% in the prior year.
Empire LifeEmpire Life reported a net income of $6 million for the first quarter of 2026 compared to $70 million in 2025. The year-over-year decline was primarily driven by less favourable market-related impacts in the current quarter relative to the same period in the prior year.
Empire Life's Life Insurance Capital Adequacy Test total ratio was 150% at March 31, 2026 compared to 153% at December 31, 2025, well above the requirements set by the Office of the Superintendent of Financial Institutions Canada as well as Empire Life's minimum internal targets.
CONSOLIDATED SUMMARY OF NET INCOME(UNAUDITED)
E-L Financial Consolidated
First quarter
(millions of dollars)
2026
2025
Contribution to net income
E-L Corporate(1)
$
26
$
16
Empire Life(1)
6
70
Net income
$
32
$
