E-L Financial Corp. Ltd. on Thursday reported weaker profit for the year ended Dec. 31, 2002.

The financial services holding company said total net income, including net investment gains, for the year was $51,512,000 or $13.41 per share, compared with $77,181,000 or $20.10 per share in 2001.

Net operating income for 2002, before net investment gains, was $27,238,000 or $7.09 per share, compared with $37,516,000 or $9.77 per share in 2001.

The companies subsidiaries include The Dominion of Canada General Insurance Co., E-L Financial Services Ltd., The Empire Life Insurance Co., Chieftain Insurance Co. and Concordia Life Insurance Co.