Brookfield Corp. to combine with insurance business, reports Q1 profit up

Brookfield Place signage is pictured in the financial district in Toronto. THE CANADIAN PRESS/Andrew Lahodynskyj

TORONTO — Brookfield Corp. announced plans to combine its operations with its insurance business as it reported its first-quarter profit rose compared with year ago.

The company says it’s looking to merge its business with Brookfield Wealth Solutions to streamline its corporate structure.

Brookfield president Nick Goodman says the move will improve capital efficiency and flexibility.

Brookfield, which keeps its books in U.S. dollars, says it earned net income attributable to shareholders totalling US$102 million or three cents US per diluted share for the quarter ended March 31, up from US$73 million or a penny US per diluted share in the same quarter last year.

Revenue totalled US$18.58 billion, up from US$17.94 billion in the first quarter of 2025.

Distributable earnings per share amounted to 66 cents US for the quarter, up from 65 cents US per share in the same quarter last year.

This report by The Canadian Press was first published May 14, 2026.