reportonbusiness.com: Purchase this article

Posted AT 1:14 PM EST on 13/08/08

Weak markets push ING Canada profit lower

The Canadian Press

TORONTO — Insurance company ING Canada Inc.'s is attributing a big drop in profitability in its latest quarter to poor investment returns from a weak market. The property and casualty insurer's net income declined to $112.0-million or 91 cents per share in the second quarter. That's down 42 per cent from $194.3-million or $1.56 per share last year. Direct premiums written increased marginally in the quarter to $1.217-billion.

The full text of this article has 264 words.

To continue reading this article, you will need to purchase this article.

Already have a member account? Login now

Pay-Per-View Offers To read the complete article, select one of the following options

Purchasing from globeandmail.com is quick and secure.

TSX
DJIA
S&P
Nasdaq

Market	Change	Value
Data delayed 15 minutes
S&P/TSX	-78.40	8,327.81
DJIA	+270.00	8,419.09
S&P 500	+32.60	848.81
Nasdaq	+51.73	1,449.80

Stock Profile	Sponsored by:
Profile Quote Lookup

U.S. service sector in a funk

Plus: The close: GE lights the way

Video: Manulife's first loss

Technology


Finding the perfect gadget: Need a present for mom, dad, son, daughter, friend, colleague?

Most Popular

Rank	Headline
1.	Air Canada fuel hedges backfire as oil drops 9:00 PM 5
2.	Hard-hit Nexen shares soar on Total bid rumours 9:19 PM
3.	Manulife, in red, raises new equity 9:09 PM 40
4.	Relentless 11:00 PM 1
5.	Fund industry braces for grim RRSP season 5:33 PM 20
6.	Government funds not needed: Scotiabank 4:04 PM 45
7.	Ted Rogers dies at 75 9:30 AM 130
8.	Detroit Three plead for lifeline 5:52 PM 161
9.	Federal employees earn more than private workers 3:19 PM 211
10.	Who were the original $1-a-year men? 2:44 PM 163

Rank	Headline
1.	PM's fury hits at coalition's core 10:48 PM 157
2.	Secret Airbus connection revealed 9:48 PM
3.	Globe editorial board editor on why Harper should resign 3:11 PM 273
4.	Harper's Options 1:41 PM 522
5.	From the kitchen table to the cabinet table 10:41 AM 156
6.	NHL suspends Avery 8:50 PM
7.	Jeffrey Simpson on Harper, the coalition and stimulus 12:20 PM 20
8.	RIM lowers guidance for third-quarter 10:22 PM 5
9.	Globe Roundtable 5:17 PM 45
10.	Air Canada fuel hedges backfire as oil drops 9:00 PM 5

Rank	Headline
1.	Harper's Options 1:41 PM 522
2.	PM's fury hits at coalition's core 10:48 PM 155
3.	The infamous letter 4:26 PM 11
4.	Harper, Dion put politics before national interest 01/12/08 11:32 PM 516
5.	Globe editorial board editor on why Harper should resign 3:11 PM 273
6.	Tar sands threatens millions of birds, report says 4:27 AM 125
7.	Secret Airbus connection revealed 9:48 PM
8.	Brain waves shed light on autism and language 01/12/08 1:01 PM 16
9.	Zenn and the art of electric car maintenance 12:00 AM 33
10.	Ted Rogers dies at 75 9:30 AM 130

Rank	Headline
725	Stelmach to Ottawa: 'Stop the nonsense' 725
370	We will have influence in coalition, Greens say 370
276	NDP wants Mounties to probe taping of call 276
275	Globe editorial board editor on why Harper should resign 275

More popular news items

The Law page


Did BCE wimp out?: Jon Huntsman can teach a thing or two about takeover contracts

ROB Magazine


Ted Rogers's last interview: The cable baron talked to Jennifer Wells about "moving toward stopping"

Live, Dec. 4, 1 P.M.


Richard Branson on taking big leaps: Virgin boss takes your questions

The Breakthrough


Zenn and the art of electric car maintenance: The breakdown of his beloved 1959 French electric car led to Toronto auto maker's 'aha! moment' and a $5-million investment in a small U.S. battery company