Industry
Each year, for the last several years, federal and provincial governments have collected $4 billion in taxes from home, car and business insurance — an amount equal to the industry’s entire value-added. This 100% tax burden is more than three times the average tax burden borne by other financial services industries in Canada. On its […]
By JANE VOLL, Director of Policy and Research at the Insurance Bure | May 31, 2000
5 min read
Auto manufacturers and property and casualty insurers recently joined forces at the AIM 2000 Conference held in Mississauga to combat cost-pressures and identify means of better serving their customers. Highlighting the agenda were the use of research, design and rating systems to reduce claims costs and reward safer designed vehicles. Insurers and auto manufacturers need […]
By Vikki Spencer | May 31, 2000
3 min read
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 […]
May 31, 2000
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
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 […]
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