Intact Financial earned $119.7 million in the first quarter on a stronger operating performance and equity investments, reversing last year’s $36.3 million loss. The Toronto-based insurance company earned $1.01 per share for the period ended March 31, compared to a 30-cent loss in the same period in 2009. Direct premiums written (excluding pools) increased 5.2 [...]
Industrial Alliance Insurance and Financial Services reported a big increase first-quarter profit as premium revenue continued to soar. Canada’s fourth-largest insurance company booked net income of $66 million, or 73 cents per common share, up from $51 million or 58 cents a share in the same quarter last year. Revenue was $1.76 billion, up from [...]
Sun Life Financial said it earned $409 million in its latest quarter, helped by a stronger economy and growth across its businesses. The insurer said the profit amounted to 72 cents per diluted share for the quarter ended March 31 compared with a loss of $213 million or 38 cents per diluted share a year [...]
Insurer Allianz SE said that its first-quarter revenues rose more than 8 per cent but warned that "unusually high” expenses related to natural disasters will weigh on its results. The company said its operating profit was approximately 1.7 billion euros (US$2.2 billion) in the January-March period, compared to 1.4 billion euros last year. Operating earnings [...]
Genworth MI Canada earned a first-quarter profit of $84 million, up from a year ago, helped by an improved economy and housing market. The residential mortgage insurance company said the profit amounted to 71 cents compared with a profit of $74 million or 71 cents per diluted share a year ago. “We delivered solid first [...]
Moody’s Corporation announced results for the first quarter 2010, with revenue of $476.6 million for the three months ended March 31, 2010, an increase of 17% from $408.9 million for the first quarter of 2009. Operating income for the quarter was $196.8 million, a 32% increase from $148.9 million for the same period last year. [...]
Lloyd’s announced a profit of £3,868 million ($6,227m) for 2009. The specialty insurer said that these are record results during challenging economic conditions and confirmed that its balance sheet remains strong and there’s a continued focus on underwriting discipline in 2010. Financial highlights: • profit before tax of £3,868m ($6,227m) (2008: £1,899m); • combined ratio [...]
Power Financial Corp., whose subsidiaries include Great-West Lifeco Inc. and IGM Financial Inc., reported a big improvement in fourth-quarter earnings despite an overall decline in revenue. The Montreal-based holding company said net profits were $340 million or 45 cents a share for the three months ended Dec. 31. That compared with a net loss of [...]
Pethealth Inc. reported robust fourth-quarter and full-year earnings results. The medical insurance provider for pets said it earned $515,003 or 1.8 cents a share in the three-months ended Dec. 31. That reversed a loss of $479,816 or 1.7 cents a share in the same quarter the year before. Revenue for the quarter was $8.9 million, [...]
Bank of Nova Scotia wrapped up the Canadian banking industry’s first-quarter earnings season with a $988-million profit that was up 17 per cent from a year earlier and ahead of analyst estimates. Scotiabank says its profit for the three-month period was the equivalent of 91 cents per diluted share or 93 cents on a cash [...]
Standard Life Financial, a Canadian financial services company that’s part of the Scottish-based Standard Life plc group, reports its net profits for 2009 rose to $109 million from just $3 million the previous year. “In Canada, Standard Life has delivered a strong performance in 2009, despite the uncertain market conditions,” president Joseph Iannicelli said in [...]
CIBC opened the first-quarter earnings with big increases in revenue and profit compared with last year. The Toronto-based bank, which held its annual meeting in Montreal, reported that profit for the quarter ended January 31 was $652 million. A large chunk of the earnings for the quarter came from CIBC’s Canadian consumer banking division. Earnings [...]
Toronto-Dominion Bank continued a string of big-profit announcements from Canada’s largest banks, posting first-quarter results that handily blew away analyst estimates for both earnings and revenue. The bank’s net income rose to $1.3 billion in the quarter, essentially doubling the $653 million it earned a year earlier, helped by record earnings from its domestic banking [...]
Bank of Montreal reported a $657-million profit in its latest financial quarter as revenue increased by 24 per cent from a year earlier, soundly beating analysts’ expectations. BMO’s revenue in the three months ended Jan. 31 increased by $583 million from the comparable period a year before, rising to $3.02 billion on strong results from [...]
View the video here on your mobile device. Fannie Mae needs another $15 billion in federal assistance, bringing its total to more than $75 billion. And worse, the mortgage finance company warned its losses will continue this year. The rescue of Fannie Mae and sister company Freddie Mac is turning out to be one of [...]
View the video here on your mobile device. AIG said it lost $8.87 billion in the fourth quarter as its general insurance business remained weak and it ran up expenses from paying back government loans. The troubled insurer also said in an annual regulatory filing that it may need additional support from the government. However, [...]
View the video here on your mobile device. Swiss Reinsurance reported a fourth-quarter net profit of 403 million Swiss francs, equivalent to about $373.4 million and a far cry from the 1.75-billion- franc or $1.6 billion loss it suffered on the back of bad investments in the year-earlier period. Swiss Re said earnings per share [...]
View the video here on your mobile device. The Vancity credit union says its net income last year was $50.3 million, up seven per cent from 2008. It also said more than $15.2 million, or 30 per cent of its net profits, will be distributed to members and communities through dividends, patronage payments, grants, sponsorships [...]
