Industry
Listed broker network consolidator, The Hub Group (TSE:HGB), lifted revenue by more than 127% to $36.6 million for the first quarter of the 2000 financial year compared with $16.1 million achieved for the same period the year prior. The revenue growth saw earnings more than double year-on-year to 20c a share from 9c a share […]
May 31, 2000
1 min read
Listed insurer, Queensway Finan- cial Holdings Ltd. (TSE:QFH) bounced back into the black in the first quarter of the current financial year, disclosing a 3 a share profit compared with a 47 a share loss for the same period the year prior. The company suffered severe losses last year as a result of its troubled […]
Listed broker network con- solidator, Equisure Financial Network (TSE:EFN), reported a 50% drop in earnings for the first quarter of this year to 2c a share compared with the same period previous. Although consolidated revenue for the first quarter of the 2000 financial year rose by 47% to $18.3 million (1999: $12.4 million), net income […]
2 min read
Reduced claims activity in Canada and the U.K. markets have impacted heavily on revenues of claims adjuster Lindsey Morden Inc. (TSE:LM), which reported a 20% drop in turnover to $88.2 million (1999: $109.8 million) for the first quarter of the 2000 financial year. The company disclosed a loss of $6.7 million (1999: $2.3 million loss) […]
Listed network broker consolidator Vector Intermediaries Inc. (Cdnx:VTE) reported a moderate decline in consolidated revenues to $14.2 million for the 1999 financial year compared with $15.4 million for the year prior. This produced a bottom-line loss of $4.4 million, or 64c a share. A significant reduction in operating expenses of $777,437 did, however, boost the […]
In a bid to become a full-service technology provider to the insurance industry, Toronto-based Keal Technology announced it has bought the insurance brokerage management systems division of CGI. The move makes Keal one of the largest broker systems providers in Canada. Keal is undaunted by the prospect of entering what some say is already a […]
Following a fourth quarter loss for the 1999 financial year, specialty listed insurer Kingsway Financial Services Inc. (TSE:KFS) brought its bottom-line figures back into the black for the first quarter of the current year. Earnings for the first quarter of the 2000 financial year clocked in at 9 a share, half the level recorded for […]
Insurer AXA Canada has sold its book of commercial trucking business, consisting of ten vehicles and more, to specialty insurer Kingsway Financial Services Inc. The book is valued at about $23 million in annual premium. As part of the arrangement, Kingsway will pay AXA an “overriding commission” of an undisclosed amount depending on the amount […]
Larry Simmons is stepping into the role of president and COO of Royal & SunAlliance Canada, effective with the departure of Linda Matthews later this year. Simmons is currently COO of commercial insurance for the company’s US operations and has been with R&SA since 1988. The company has also announced the promotion of Terry Broderick […]
The world of repair shops and front-line collision damage appraisers is very different to that of the corporate insurance industry. A closer understanding of the challenges faced by both sides is clearly needed. In fact, with both bodyshops and insurers facing extremely tight operating margins in the highly competitive auto repair market, it can only […]
April 30, 2000
6 min read
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