Life and Health insurer Desjardins Financial Security today reported an 8.5% rise in third-quarter profit to $37.5 million.

Revenue for the nine months ended Sept. 30, 2005 was $2.31 billion, up from $2.1 billion a year ago,

Return on equity for the nine months was 24.8 %.

Assets under management rose to more than $16 as at Sept. 30, 2005, up 11.2% over the last 12 months.

“Desjardins Financial Security continues to stand out not only in Quebec but also Canada-wide where it is making significant headway, notably in group insurance,” Desjardins Group CEO Alban D’Amours said in a release..

The group insurance unit reported a strong rise in group insurance sales outside Quebec during the first nine months of the year.

Net income for the group was $79.1million in the first nine months of 2005. Group insurance sales outside Quebec continued to climb, standing at $51.7 million, an increase of 25.5%, or $10.5 million higher than a year ago.

Net income in individual insurance was $28.0 million, up 146.6% compared with the first nine months of 2004. Sales rose to $25.2 million, $1 million up from Sept. 30, 2004, thanks primarily to the success of Life 20, a new product launched in the last quarter of 2004.

Net income in savings and segregated funds was $9.5 million, or $2.7 million higher than the result for the first nine months of 2004.