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Twelve days of tax tips – Day 4
By ILSTV Staff on Dec 13, 2011 in Financial Reports
On the fourth day of tax tips, look at selling money-losing investments to offset capital gains
Category: Financial Reports
Rates to rise as claims costs, lower investment returns affect ICBC’s Q3 results
While ICBC will be filing for an increase to its basic insurance rates, it will also drop its optional rates in 2012
Despite significant weather-related losses, Economical reports Q3 profit of $1.4 million
Economical continued to be affected by weather-related catastrophic losses during the third quarter, totaling $31.3 million, compared to $7.7 million during the same quarter in 2010
Weak economy not slowing down charitable donations by Canada’s wealthiest
While cash is still king for most charitable donations, many Canadians are giving stock, art, land, life insurance and other assets
RSA sees Q3 net premiums rise by 11%
“Canada has delivered excellent growth, with premiums of £1,108m up by 20% (19% at constant exchange) driven by rate increases, strong retention and the benefit of the acquisition of GCAN which contributed 10 points of the overall growth,” said RSA
Intact Financial profit rises to $111 million in Q3
Income increase driven by improved underwriting performance in personal auto insurance
Fairfax Financial’s Q3 earnings triple to $974 million
“We earned almost a billion dollars in spite of significant catastrophe activity in the quarter because of almost $1.6 billion in net gains on our investment portfolio,” said Prem Watsa
Co-operators General Insurance reports Q3 results
“Hail, wind and rain storms in Ontario and western Canada negatively affected our results, but were offset by much-improved claims results in the Ontario auto insurance market. At this point, we are cautiously optimistic that Ontario auto reforms introduced last year are having a positive impact,” said Kathy Bardswick, President and CEO of The Co-operators
Canadian insurers expected to be hit by market volatility, book Q3 losses
Many analysts were rethinking their estimates for the industry’s third-quarter earnings
Sun Life projects Q3 loss of $621 million
The insurer said the losses are related to”substantial declines in both equity markets and interest rate levels”
MPI reports halved net income in first six months of 2011
Provincial insurer says it is in a ‘stable financial position’ despite claims from severe summer weather
A record 35,000 jobs cut from financial services sector in September
“I think a lot of companies right now, especially financial, they know what’s going on worldwide, the debt situation, and they’re sitting tight,” Steven Cardwell
Group looking to take control of Toronto Stock Exchange extends takeover offer
By The Canadian Press on Oct 03, 2011 in Business, Canadian Economy, Financial Reports, Sales, Mergers & Acquisitions
The Maple Group, the consortium of financial companies and pension funds looking to take control of the Toronto Stock Exchange, has extended its takeover offer another month.
Housing agency failed to check Fannie and Freddie mortgage settlements: Report
“Fannie Mae and Freddie Mac mortgage review processes were “unsatisfactory” US Government Report
Lloyd’s suffers biggest-ever first half loss after quakes, floods and tornadoes
Insurer reports loss before tax of £697 million ($1,122 million) (June 2010 £628 million profit) as a result of an unprecedented level of natural catastrophes
Economical reports improved Q2 results
The Economical Insurance Group reverses net loss from same quarter a year ago
Kingsway reports $4.9 million loss in Q2
By ILSTV Staff on Aug 15, 2011 in Financial Reports
Kingsway recorded net loss of $9.0 million in the Underwriting segment for the second quarter ($17.4 million year to date)
RSA Canada reports strong half year results
By ILSTV Staff on Aug 09, 2011 in Financial Reports
RSA Canada reported net written premiums of $1,103 million, up 20 percent from $917 million last year and an $85 million underwriting profit, up 20 percent, $14 million ahead of prior year
Great-West Lifeco reports increased Q2 2011 results
By ILSTV Staff on Aug 08, 2011 in Financial Reports
Great-West Lifeco Inc. has reported net earnings of $526 million for the three months ended June 30, 2011, compared to $455 million in the second quarter of 2010
