Desjardins Group

Desjardins: Cooperative Insurance Leadership in Canada

Desjardins Group, North America’s largest financial cooperative, is a prominent player in the Canadian insurance market, renowned for its cooperative ownership model and strong regional presence, particularly in Quebec and Ontario. Founded in 1900, Desjardins has evolved into an integrated financial services group offering a full spectrum of products across insurance, banking, wealth management, and specialized services.

As of the first quarter of 2025, Desjardins reported a net surplus earnings of CAD 738 million before member dividends, reflecting a slight decline related mainly to increased claims costs in its Property and Casualty (P&C) insurance segment, influenced by severe weather events such as freezing rain and wind damage in Ontario and Quebec. Despite short-term challenges, the cooperative maintains a robust capital position and strong credit ratings, including an AA- rating with a stable outlook from Fitch and Morningstar DBRS.

Insurance Product Leadership

Desjardins is recognized for its market leadership in multiple insurance domains:

• Property and Casualty Insurance: Desjardins holds a significant market share (around 13.5%) in auto and home insurance, providing comprehensive coverage with strong customer service. It is known for offering tailored policies that address local risk factors, such as weather-related perils common in Eastern Canada.
• Life and Health Insurance: The group provides a broad range of life, health, and disability insurance products, backed by cooperative principles emphasizing member benefits, transparency, and community reinvestment.
• Group Insurance: Extensive group benefits plans support employers with customized health, dental, disability, and life coverage, complemented by wellness programs aimed at improving workforce health and productivity.

Performance Highlights and Market Position

• The P&C segment faced higher claims due to adverse weather in Q1 2025, resulting in a net surplus earnings decline compared to 2024; however, premium growth in automobile and property segments helped offset these costs.
• The group’s “Other” segment, including treasury activities, posted strong net surplus earnings, reflecting diversified income streams supporting overall financial stability.
• Forbes magazine ranked Desjardins among Canada’s top 10 companies in the prestigious “World’s Best Banks” list for 2025, underscoring the cooperative’s reputation for financial strength and customer trust.
• Desjardins commands dominant shares in Quebec’s financial services sector, with personal deposit market share around 36%, farm loans 42%, and residential mortgages 39%, highlighting broad customer loyalty and cross-sector integration.

Cooperative Model and Community Impact

Desjardins’ cooperative structure means profits are reinvested in member dividends, community development, sponsorships, scholarships, and social initiatives. In 2025’s first quarter alone, sponsorships, donations, and scholarships totaled CAD 26 million, reflecting the cooperative’s commitment to social responsibility and regional development.

Challenges and Strategic Focus

• Increased claims frequency and severity linked to climate events and inflationary pressures remain key challenges.
• Desjardins is investing in enhancing its digital service platforms and claims processing efficiency to maintain competitiveness amid rising customer expectations.
• Ongoing strategic diversification and prudent risk management underpin efforts to sustain capital adequacy and member value in volatile economic environments.

Full Contact Information for Desjardins

Head Office:
Desjardins Group
100 Rue des Commandeurs
Lévis, QC G6V 6R2
Canada

Customer Service:

• General enquiries: 1-800-CAISSES (1-800-224-7737)
• Insurance Services: 1-800-CAISSES (1-800-224-7737)
• Online contact: https://www.desjardins.com/contact-us/

Investor Relations:

• Phone: 1-800-CAISSES ext. 64378
• Website: https://www.desjardins.com/investors

Mailing Address:
Fédération des caisses Desjardins du Québec
5930 Boulevard Laurier
Québec, QC G2J 1C7
Canada

Social Media:

• Twitter: @Desjardins
• LinkedIn: Desjardins Group

Customer Feedback Highlights

1. Marie L., Montreal, QC:
   “Desjardins’ cooperative approach feels genuine—I appreciate how my insurance premiums contribute to community programs. Their customer support is attentive and prompt.”
2. Kevin B., Toronto, ON:
   “After a severe storm caused damage to my home, Desjardins’ claims process was straightforward, and their adjusters were thorough and empathetic.”
3. Sophie M., Quebec City, QC:
   “The group benefits plan through Desjardins at my workplace has excellent coverage and wellness resources that have helped me manage my chronic health issues.”
4. Liam C., Ottawa, ON:
   “I switched to Desjardins for auto insurance because of their competitive pricing and personalized service, and I haven’t been disappointed.”
5. Emma R., Lévis, QC:
   “Their online portal makes managing all my insurance policies easy and transparent, and the member dividend program is a nice bonus.”

Desjardins’ leadership in cooperative insurance is marked by strong regional roots, a broad and evolving product suite, robust financial strength, and a firm commitment to member and community value, positioning it as a key Canadian insurer in 2025.

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