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August 09, 2001 at 08:00 PM
NU Online News Service, Aug. 9, 10:35 a.m. – Crown Life Insurance Company, Regina, Saskatchewan, is reporting $9.6 million in Canadian dollars in net income for the second quarter on $35 million in revenue, compared with $9.2 million in net income on $39 million in revenue for the second quarter of 2000.
Operating income, which excludes $5 million in losses attributable to policyholders, increased 4%, to $9.6 million.
Crown Life earned the equivalent of $6.3 million in U.S. dollars for the quarter on $23 million in revenue, compared with $6.2 million in net income on $26 million in revenue for the second quarter of 2000.
The conversions are based on an exchange rate of 1 Canadian dollar=66 U.S. cents for June 30, and an exchange rate of 1 Canadian dollar=67.4 U.S. cents for June 30, 2000, as recorded by OANDA Corp., New York.
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