Royal Bank of Canada posted net income of $20.4 billion for the fiscal year ending Oct. 31, a 25% increase from the prior year, with diluted EPS rising to $14.07.
Pre-provision, pretax earnings for the fiscal year reached $30 billion, driven by higher net interest income across personal and commercial banking, stronger capital markets results and growth in fee-based revenue within wealth management.
Royal Bank of Canada's insurance business saw net income rise 14% in 2025, driven by improved claims experience in longevity reinsurance and life retrocession products. While certain actuarial assumption updates had a modest negative impact, RBC Insurance maintained steady growth in total premiums and deposits, reflecting the resilience of its diversified product portfolio.
Despite a challenging macroeconomic backdrop, the segment benefited from disciplined underwriting and the strength of its overall offerings, including life, health, and reinsurance products. Lower taxes resulting from changes in earnings mix further contributed to the increase in net income.
For the fourth quarter, insurance results were slightly weaker compared to the prior year, offsetting gains in other business segments. Nonetheless, RBC Insurance continues to deliver consistent results, supporting clients’ risk management needs across Canada.
Dave McKay, RBC president and CEO, highlighted that insurance is a core component of the bank’s strategy, providing clients with long-term financial protection. The firm’s strong capital position allows ongoing investment in product development, claims management, and client service, positioning RBC Insurance to respond effectively to market volatility and evolving consumer needs.
RBC Insurance’s performance illustrates the segment’s role in the Canadian insurance market, combining stable premium growth, disciplined underwriting, and comprehensive risk solutions to support both individual and institutional clients.
