What’s New: In Brief (July 30, 2008)

The Loyalist Insurance Group Limited reported a net income of Cdn$2.6 million for the six months, as compared to a net loss of Cdn$241,542 for the same period in 2007. Commissions and contingent profit commissions were Cdn$191,055.Interest income and other income was approximately Cdn$15,225. Total expenses for the six months were Cdn$355,818. “Included in the income tax expense of [Cdn]$721,750 was a provision of [Cdn]$300,000 for current year income taxes and a write down of the future tax asset of [Cdn]$421,750,” the release notes.