Exhibit 99.1
Below are traditional and non-traditional segment results for Canada, EMEA and Asia Pacific operations for 2014 and 2013 (in thousands):
Canada Traditional Segment | |||||||||||||||||||||||||||
(unaudited) | FISCAL 2014 | FISCAL 2013 | |||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||
Net premiums | $ | 225,304 | $ | 248,031 | $ | 239,645 | $ | 240,409 | $ | 238,017 | $ | 233,476 | $ | 230,062 | $ | 237,458 | |||||||||||
Investment income, net of related expenses | 46,879 | 49,425 | 49,647 | 47,659 | 49,854 | 50,918 | 49,444 | 51,770 | |||||||||||||||||||
Investment related gains (losses), net | (1,700 | ) | 4,165 | (375 | ) | 2,355 | 3,039 | 3,722 | 6,494 | 3,747 | |||||||||||||||||
Other revenue | 961 | (220 | ) | 761 | 569 | 208 | 302 | (196 | ) | 531 | |||||||||||||||||
Total revenues | 271,444 | 301,401 | 289,678 | 290,992 | 291,118 | 288,418 | 285,804 | 293,506 | |||||||||||||||||||
Benefits and expenses: | |||||||||||||||||||||||||||
Claims and other policy benefits | 189,571 | 199,084 | 195,162 | 200,620 | 185,155 | 190,025 | 179,674 | 182,128 | |||||||||||||||||||
Interest credited | — | 9 | 10 | 14 | 12 | 6 | 19 | 9 | |||||||||||||||||||
Policy acquisition costs and other insurance expenses | 52,953 | 60,687 | 60,260 | 60,699 | 60,637 | 51,942 | 55,362 | 52,897 | |||||||||||||||||||
Other operating expenses | 9,487 | 9,612 | 10,086 | 9,826 | 9,940 | 10,620 | 9,758 | 8,991 | |||||||||||||||||||
Total benefits and expenses | 252,011 | 269,392 | 265,518 | 271,159 | 255,744 | 252,593 | 244,813 | 244,025 | |||||||||||||||||||
Income before income taxes | $ | 19,433 | $ | 32,009 | $ | 24,160 | $ | 19,833 | $ | 35,374 | $ | 35,825 | $ | 40,991 | $ | 49,481 |
Canada Non-Traditional Segment | |||||||||||||||||||||||||||
(unaudited) | FISCAL 2014 | FISCAL 2013 | |||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||
Net premiums | $ | 5,540 | $ | 5,546 | $ | 5,491 | $ | 4,615 | $ | 5,254 | $ | 6,157 | $ | 6,005 | $ | 5,882 | |||||||||||
Investment income, net of related expenses | 724 | 655 | 600 | 616 | 701 | 724 | 717 | 723 | |||||||||||||||||||
Investment related gains (losses), net | 41 | 28 | 3 | 8 | 16 | 26 | (22 | ) | (12 | ) | |||||||||||||||||
Other revenue | — | 1,483 | 1,568 | 1,432 | — | — | — | — | |||||||||||||||||||
Total revenues | 6,305 | 7,712 | 7,662 | 6,671 | 5,971 | 6,907 | 6,700 | 6,593 | |||||||||||||||||||
Benefits and expenses: | |||||||||||||||||||||||||||
Claims and other policy benefits | 5,185 | 4,209 | 6,271 | 4,451 | 4,543 | 6,559 | 5,337 | 5,098 | |||||||||||||||||||
Policy acquisition costs and other insurance expenses | 151 | 150 | 149 | 131 | 195 | 192 | 191 | 222 | |||||||||||||||||||
Other operating expenses | 338 | 342 | 358 | 350 | 299 | 322 | 294 | 272 | |||||||||||||||||||
Total benefits and expenses | 5,674 | 4,701 | 6,778 | 4,932 | 5,037 | 7,073 | 5,822 | 5,592 | |||||||||||||||||||
Income before income taxes | $ | 631 | $ | 3,011 | $ | 884 | $ | 1,739 | $ | 934 | $ | (166 | ) | $ | 878 | $ | 1,001 |
Europe, Middle East and Africa Traditional Segment | |||||||||||||||||||||||||||
(unaudited) | FISCAL 2014 | FISCAL 2013 | |||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||
Net premiums | $ | 291,798 | $ | 286,403 | $ | 291,015 | $ | 288,191 | $ | 261,208 | $ | 260,225 | $ | 269,373 | $ | 278,569 | |||||||||||
Investment income, net of related expenses | 11,824 | 12,113 | 13,050 | 15,099 | 10,783 | 12,921 | 12,377 | 13,131 | |||||||||||||||||||
Investment related gains (losses), net | 3,724 | 8,920 | 3,540 | 7,008 | 1,743 | 428 | 1,274 | 5,404 | |||||||||||||||||||
Other revenue | 404 | (336 | ) | 2,878 | (582 | ) | 460 | 2,515 | (691 | ) | (63 | ) | |||||||||||||||
Total revenues | 307,750 | 307,100 | 310,483 | 309,716 | 274,194 | 276,089 | 282,333 | 297,041 | |||||||||||||||||||
Benefits and expenses: | |||||||||||||||||||||||||||
Claims and other policy benefits | 269,251 | 236,540 | 244,010 | 247,959 | 237,920 | 238,694 | 228,090 | 245,606 | |||||||||||||||||||
Interest credited | 2,786 | 5,750 | 2,959 | 4,076 | — | — | — | 6,114 | |||||||||||||||||||
Policy acquisition costs and other insurance expenses | 13,735 | 11,994 | 17,205 | 14,038 | 11,708 | 9,493 | 13,435 | 18,407 | |||||||||||||||||||
Other operating expenses | 22,970 | 26,029 | 25,028 | 30,414 | 20,442 | 22,114 | 21,888 | 24,337 | |||||||||||||||||||
Total benefits and expenses | 308,742 | 280,313 | 289,202 | 296,487 | 270,070 | 270,301 | 263,413 | 294,464 | |||||||||||||||||||
Income before income taxes | $ | (992 | ) | $ | 26,787 | $ | 21,281 | $ | 13,229 | $ | 4,124 | $ | 5,788 | $ | 18,920 | $ | 2,577 |
Europe, Middle East and Africa Non-Traditional Segment | |||||||||||||||||||||||||||
(unaudited) | FISCAL 2014 | FISCAL 2013 | |||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||
Net premiums | $ | 48,945 | $ | 54,481 | $ | 55,442 | $ | 57,694 | $ | 31,601 | $ | 31,955 | $ | 33,886 | $ | 53,926 | |||||||||||
Investment income, net of related expenses | 1,545 | 8,558 | 16,141 | 28,799 | 646 | 702 | 483 | 991 | |||||||||||||||||||
Investment related gains (losses), net | 98 | 12,904 | 206 | 2,314 | 29 | 12 | 49 | 37 | |||||||||||||||||||
Other revenue | 7,519 | 8,275 | 10,640 | 9,237 | 1,117 | 1,411 | 13,100 | 5,410 | |||||||||||||||||||
Total revenues | 58,107 | 84,218 | 82,429 | 98,044 | 33,393 | 34,080 | 47,518 | 60,364 | |||||||||||||||||||
Benefits and expenses: | |||||||||||||||||||||||||||
Claims and other policy benefits | 38,090 | 46,006 | 53,982 | 66,032 | 22,338 | 23,749 | 22,875 | 47,575 | |||||||||||||||||||
Policy acquisition costs and other insurance expenses | (470 | ) | (502 | ) | (738 | ) | (646 | ) | (101 | ) | (97 | ) | (87 | ) | (524 | ) | |||||||||||
Other operating expenses | 4,290 | 4,179 | 5,290 | 5,948 | 4,317 | 4,267 | 3,986 | 3,913 | |||||||||||||||||||
Total benefits and expenses | 41,910 | 49,683 | 58,534 | 71,334 | 26,554 | 27,919 | 26,774 | 50,964 | |||||||||||||||||||
Income before income taxes | $ | 16,197 | $ | 34,535 | $ | 23,895 | $ | 26,710 | $ | 6,839 | $ | 6,161 | $ | 20,744 | $ | 9,400 |
Asia Pacific Traditional Segment | |||||||||||||||||||||||||||
(unaudited) | FISCAL 2014 | FISCAL 2013 | |||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||
Net premiums | $ | 366,099 | $ | 390,494 | $ | 393,665 | $ | 390,652 | $ | 362,606 | $ | 348,539 | $ | 351,120 | $ | 372,567 | |||||||||||
Investment income, net of related expenses | 20,303 | 21,502 | 21,899 | 20,785 | 18,058 | 17,798 | 18,889 | 22,662 | |||||||||||||||||||
Investment related gains (losses), net | 121 | 1,949 | (323 | ) | 1,192 | 560 | 470 | 1,666 | 304 | ||||||||||||||||||
Other revenue | 366 | 51,593 | 2,776 | 3,363 | (1,048 | ) | 4,702 | 1,955 | 3,695 | ||||||||||||||||||
Total revenues | 386,889 | 465,538 | 418,017 | 415,992 | 380,176 | 371,509 | 373,630 | 399,228 | |||||||||||||||||||
Benefits and expenses: | |||||||||||||||||||||||||||
Claims and other policy benefits | 286,676 | 299,747 | 309,648 | 312,540 | 279,758 | 569,425 | 285,104 | 295,853 | |||||||||||||||||||
Policy acquisition costs and other insurance expenses | 53,579 | 107,293 | 51,249 | 46,691 | 60,514 | 60,024 | 46,696 | 52,750 | |||||||||||||||||||
Other operating expenses | 27,767 | 30,285 | 32,818 | 37,541 | 27,855 | 29,066 | 27,093 | 29,421 | |||||||||||||||||||
Total benefits and expenses | 368,022 | 437,325 | 393,715 | 396,772 | 368,127 | 658,515 | 358,893 | 378,024 | |||||||||||||||||||
Income before income taxes | $ | 18,867 | $ | 28,213 | $ | 24,302 | $ | 19,220 | $ | 12,049 | $ | (287,006 | ) | $ | 14,737 | $ | 21,204 |
Asia Pacific Non-Traditional Segment | |||||||||||||||||||||||||||
(unaudited) | FISCAL 2014 | FISCAL 2013 | |||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||
Net premiums | $ | 15,651 | $ | 3,193 | $ | 5,757 | $ | 9,429 | $ | 21,718 | $ | 6,672 | $ | 6,747 | $ | 15,236 | |||||||||||
Investment income, net of related expenses | 4,339 | 4,823 | 4,546 | 4,264 | 4,572 | 4,153 | 4,000 | 4,198 | |||||||||||||||||||
Investment related gains (losses), net | 2,393 | 4,336 | (6,062 | ) | (5,138 | ) | (4,999 | ) | (4,607 | ) | 3,431 | (2,299 | ) | ||||||||||||||
Other revenue | 5,757 | 5,281 | 6,174 | 5,539 | 8,384 | 6,251 | 5,849 | 6,777 | |||||||||||||||||||
Total revenues | 28,140 | 17,633 | 10,415 | 14,094 | 29,675 | 12,469 | 20,027 | 23,912 | |||||||||||||||||||
Benefits and expenses: | |||||||||||||||||||||||||||
Claims and other policy benefits | 16,920 | 6,573 | 9,859 | 8,103 | 18,643 | 9,383 | 12,104 | 17,279 | |||||||||||||||||||
Interest credited | 246 | 234 | 221 | 195 | 311 | 274 | 270 | 263 | |||||||||||||||||||
Policy acquisition costs and other insurance expenses | 710 | 616 | 603 | 367 | 1,572 | 147 | 588 | 517 | |||||||||||||||||||
Other operating expenses | 2,820 | 3,495 | 3,621 | 4,006 | 2,956 | 3,004 | 3,023 | 3,398 | |||||||||||||||||||
Total benefits and expenses | 20,696 | 10,918 | 14,304 | 12,671 | 23,482 | 12,808 | 15,985 | 21,457 | |||||||||||||||||||
Income before income taxes | $ | 7,444 | $ | 6,715 | $ | (3,889 | ) | $ | 1,423 | $ | 6,193 | $ | (339 | ) | $ | 4,042 | $ | 2,455 |