ICBC reported its financial results for the first six months of 2010 with net income for the first half of the year at $232 million, down from $277 million for the same period in 2009. “Our customers’ smart driving has made a major contribution to our financial results and we have asked for permission to [...]
EGI Financial Holdings Inc. announced its results for the three and six-months ended June 30, 2010. Q2 Financial Highlights include: - Net income of $1.9 million, compared to $4.8 million in the second quarter of 2009 - Net income per fully diluted share of $0.15, compared to $0.38 in the second quarter of 2009 - [...]
Western Financial Group announced its second quarter 2010 financial numbers which show net income increased by 37%, with Earnings Per Share up by 13% over the same period in 2009. All Business Units showed positive results year over year, with Bank West reporting its second profitable quarter in a row and record profits for the [...]
Kingsway Financial Services Inc. has managed to halve its second-quarter losses to US$18.5 million. The Toronto-area company, which reports in U.S. currency, said the loss amounted to or 36 cents per share. That compares to a deeper $38.4 million loss, or 70 cents per share, a year ago. Kingsway has spent the past year tightening [...]
CI Financial Corp., Canada’s third-largest investment funds company, reports its second-quarter profits rose to $89 million from $52.9 million as the company generated higher revenues and cut operating costs. Average assets under management increased to $63.5 billion from $53.7 billion last year, but retail assets were down from the first quarter, the Toronto wealth manager [...]
Swiss insurer Zurich Financial Services Group reported a 51 per cent drop in the second-quarter net profits to $707 million as earnings were hit by payouts for weather-related losses and the earthquake in Chile. This compares with a profit of $1.43 billion during the same period last year. The Zurich-based company says investment income fell [...]
Warren Buffett’s company reported a 40 per cent drop in second-quarter profit because the improvement at Berkshire Hathaway Inc.’s operating companies couldn’t overcome US$1.4 billion in paper losses on derivative contracts. Berkshire’s strong performances from its railroad, insurance and manufacturing businesses was overshadowed by the plummeting value of the Omaha company’s derivatives – many of [...]
Swiss Re Insurance Co. has reported a net profit of US$812 million for the second quarter despite payouts for two large-scale disasters. The company recorded a net loss of $342 million during the same period last year. Swiss Re says earnings per share were 2.56 Swiss francs compared to a loss per share of 1.13 [...]
French reinsurer SCOR says that thanks to a second quarter which illustrated the Group’s capacity to deliver a high level of recurring profitability with a net income of EUR 120 million (CAD$163 million) compared to EUR 91 million in the second quarter 2009 (i.e. +32%), it has recorded a net half-year income of EUR 156 million, compared [...]
Part-nationalized Lloyds Banking Group PLC reported that first-half net profit fell 92 per cent from a year ago, when it booked a big one-off gain, but revenue grew and bad loans were almost halved from a year ago. Lloyds, formed last year when Lloyds TSB took over Halifax/Bank of Scotland, said net profit was 596 [...]
The insurance giant AIG reported a US$538 million loss in the second quarter due to charges related to selling assets to repay the federal government bailout. Its adjusted results excluding the charges beat Wall Street expectations, and its shares rose almost three per cent in pre-market trading. Its insurance business showed improvement. American International Group [...]
Standard Life Financial Inc. reported in the quarter ended June 30, 2010, premiums and deposits grew 13% to $1.2 billion, underpinned by successful sales in its core markets. Net income amounted to $23.8 million, increasing year-to-date profit to $77.9 million (2009: $64.9 million). Standard Life Financial is the Canadian subsidiary of the UK-based long-term savings [...]
Strong gains on investments helped Munich Re AG’s second-quarter profit rise 3.5 per cent despite the impact of the oil spill in the Gulf of Mexico, the reinsurer said. Net earnings for the April-June quarter were up to euro709 million ($937 million) from euro685 million a year earlier, defying analysts’ expectations of a drop. Its [...]
Sun Life Financial Inc., Canada’s third largest insurance company, reported its net profits fell sharply in the second quarter as volatile stock markets and a big loss in its U.S. operations squeezed the company’s business. The Toronto financial services giant reported late Wednesday it earned $213 million or 37 cents a share for the three [...]
Willis Group Holdings plc reported results for the quarter and six months ended June 30, 2010. “Our second quarter results continue to reflect the strength of our geographic diversity and our relentless focus on building the business,” said Joe Plumeri, Chairman and Chief Executive Officer, Willis Group Holdings, in a statement. “Organic growth in commissions [...]
