SSQ Financial Group today reported strong results for 2006. The mutually owned financial services firm recorded a net profit of $25.9 million in 2006, up 10.2% over the previous year, providing a return on shareholders’ equity of 14.1%.

Assets under management rose by 14.7%, reaching $3.4 billion, compared to $2.9 billion for the previous year. Premiums underwritten by SSQ enterprises rose by 11.8%, representing an increase from $1.2 billion to $1.4 billion.

Growth and development were the mainstays of SSQ’s Group Insurance business line throughout the year 2006. New sales of $95 million and growth in annual premium income of 9.3%, for a total of $960.1 million, reconfirm SSQ’s position as a major player in the group insurance industry. Over the past year, this business line continued to pursue its pan-Canadian expansion. The combined efforts Toronto, Montreal and Quebec City sales offices have met with success: SSQ has secured a place in a highly competitive market, with never-before-attained results in terms of new sales.

2006 was a successful year all around for SSQ Investment and Retirement. Once again this year, there was a marked increase in total assets, representing impressive growth of 19.7% from 2005 to 2006. Combined sales for group and individual market sectors attained an enviable rate of growth of 42.2% in 2006. In addition, SSQ is now authorized to offer individual savings plans in the province of Ontario and to organizations under federal jurisdiction.

SSQ General Insurance has continued to move forward in a highly competitive sector, increasing the number of insurance contracts underwritten by 9% in 2006. Rigorous management of expenses combined with good insurance and investment results produced excellent financial results. The volume of written premiums in 2006 was $92.6 million for a net profit of $4.1 million.

With more than $1 billion in annual revenue, SSQ Financial Group is a leading mutual diversified financial institution.