How Desjardins Makes Money

Desjardins Group operates an integrated cooperative business model structured around four core operating pillars that collectively generated C$23.20 billion in revenue in fiscal year 2024. The largest contributor is Property & Casualty Insurance (42.0% of revenue, or C$9.744 billion), operated through Desjardins General Insurance Group, underwriting automobile, home, and commercial casualty policies across Quebec, Ontario, and Alberta. Personal & Business Cooperative Services constitutes the second pillar (36.0% of revenue, or C$8.352 billion), encompassing retail caisse branch deposits, residential mortgages, consumer credit cards, agricultural lending, and SME commercial loans. Wealth Management & Life and Health Insurance forms the third pillar (18.0% of revenue, or C$4.176 billion), driven by Desjardins Financial Security and Aviso Wealth partnerships offering group benefits, term life policies, mutual funds, and Disnat brokerage. The remaining Treasury & Other Cooperative Activities pillar accounts for 4.0% (C$0.928 billion), managing wholesale funding, liquidity buffers, and inter-caisse clearing. Surplus net income is strategically divided between capital reserves, digital reinvestment, and member dividend distributions (ristournes).

Desjardins executes a balanced three-pillar growth strategy: first, reinforcing its Quebec retail fortress by deepening digital caisse engagement, automated mortgage underwriting, and commercial SME financing; second, accelerating pan-Canadian wealth management and life insurance distribution through the integration of Worldsource and Aviso Wealth credit union channels; and third, scaling property and casualty insurance underwriting efficiency nationwide via advanced telematics (Ajusto), connected home tools, and disciplined risk-adjusted pricing.