Risk
Included in the federal government budget for the current fiscal year was a long-range allocation of several billion dollars to be earmarked for provincial infrastructural development projects. The property and casualty insurance industry’s recently formed Institute for Catastrophic Loss Reduction (ICLR) has called for an ambitious $750 million of this expenditure to be allocated by […]
May 31, 2000
8 min read
Industry
The Export Development Corporation (EDC) has earmarked $1 million over three years for an International Studies Scholarship, to be administered by the Association of Universities and Colleges of Canada. Undergraduate students pursuing degrees in business or economics focussing on international business, relations or finance will be eligible for $3000 scholarships and co-op employment opportunities with […]
3 min read
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 […]
1 min read
Approximately 98% of risk managers recently surveyed by the Liberty Mutual Group say they use the Internet in carrying out their duties. The survey is based on the responses of 200 risk managers. Approximately a quarter of the survey respondents say they spend more than five hours a week online, with research being the main […]
Armed with over 50 years experience in the insurance business, Simon Farrow is ready to lead a new company, Thompson General Insurance, onto the playing field. The market may be competitive, he says, but this “virtual company” is mixing state of the art technology with a community-based approach to tackle its larger competitors. Reducing expenses, […]
6 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) […]
With the recent approval of the U.S. Financial Services Modernization Act, a considerable amount of attention in Canada has been turned to watch developments south of the border. Financial services legislative reform in the U.S. has opened the door to financial institutional cross ownership and integrated product selling, essentially providing the way for the one-stop […]
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 […]
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