Compelo Banking - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More

Loyalist Insurance annual revenues slip

The Loyalist Insurance Group has reported revenues of $1.76 million for the year ended December 31, 2007, compared with the 2006 revenues of $2.12 million.

Loss from operations for the year was $249,241 as against loss of $50,399 recorded in 2006. Expenses were $2.29 million as compared to $2.41 million in 2006. Operational expenses for the period decreased by 12%, excluding extraordinary legal fees, or 5% inclusive of all expenses.

Total insurance premium collected in 2007 was $11.31 million compared to $13.562 million in 2006, a decrease of 17%. Consolidated cash balances were $344,730 as at December 31, 2007 compared to $529,583 in 2006.