New CEO says the firm’s business transformation is well on track
The firm realized lower investment-management fee income as a result of the lowered market value of assets invested in its funds
Historically low mortgage rates and the resilience of the Canadian housing market helped the firm boost profits and increase asset growth
CEO suggests that tight credit conditions and other external factors would continue to influence Sun Life’s results in the third quarter
A reduction of the dividend by 50% is intended to boost the company’s capital levels
Firm hopes to add a fixed-income component to its offerings and it is exploring new products in its line of gold investment vehicles
Increase achieved through a combination of margin improvement measures, improved productivity, diligent risk management and attractive securitization volumes and spreads
Revenue rose, but net income fell as a result of adjustments in converting back to a corporation
The company is conserving cash until its subsidiary receives approval to become a Schedule I bank
Co-operators General Insurance Co. Friday reported lower second-quarter income, as the P&C insurer booked sharply lower investment gains.For the second quarter ended June 30, Co-operators consolidated net income was $13.9 million, compared to $39 million for the same quarter in 2008. Earnings per common share were 54¢ for the second quarter compared to $1.80 for […]