What’s New: In Brief (May 30, 2007)

Royal & SunAlliance has partnered with AIR MILES Reward Program, which will provide customers who purchase or renew a home or car insurance policy with one reward mile for every $20 they spend on premium. Brokers have consistently asked us for support in attracting and retaining new customers, Rowan Saunders, president and CEO of Royal & SunAlliance, said in a release. Partnering with the AIR MILES Reward Program represents another significant investment in the broker channel that, combined with our customer-focused value propositions and competitive rates, will offer Canadians one more reason to place their business with a Royal & SunAlliance broker.

The Loyalist Insurance Group Limited (TSX:LOY), based out of Ancaster, Ontario, has reported an increase in revenue for 2007 Q1. Revenue increased from Cdn$526,286 in 2006 Q1 to Cdn$529, 371 in 2007 Q1. The company reported its quarterly expenses dropped from Cdn$586,778 in 2006 Q1 to Cdn$582,049 in 2007 Q1. At the same time, the company continued to incur expenses related to personnel, legal and accounting fees. The company reported a net loss in 2007 Q1 of Cdn$42,679 down from a net loss of Cdn$43,492 in 2006 Q1. Loyalist Insurance Brokers Ltd., a subsidiary of Loyalist Insurance Group Ltd., received contingent commissions of roughly Cdn$180,215 in March of 2007, which is up from the Cdn$85,172 it received the year prior. In addition, income from operations increased dramatically from Cdn$9,647 in 2006 Q1 to Cdn$75,852 in 2007 Q1, mainly due to increased commissions earned.