EGI Financial Holdings cites improvements in Ontario auto for better financial results in 2011 Q3

EGI Financial Holdings Inc. reported a $2.3-million profit in 2011 Q3, up $2.3 million over 2010 Q3.For the first three quarters of 2011, EGI recorded a $10-million improvement in underwriting results over the same period in 2010.The company’s combined operating ratio (COR) in non-standard auto dipped from 102% in 2010 Q3 to 91% in 2011 Q3.”The performance of the company’s personal lines division improved significantly in the third quarter of 2011, recording underwriting income of [$600,000], a $3.2-million increase over the same period last year,” the company announced in a press release. “Improvements in Ontario auto insurance, as well as the continued profitability of Quebec, Nova Scotia and specialty vehicles all contributed to the favourable results.”