MPI Reports $14.2M Earnings in First Quarter

Manitoba Public InsuranceFirst quarter net earnings for Manitoba Public Insurance came in at $14.2 million.

MPI faced increased claims being made during this past winter, resulting in an increase of $9.6 million — or 8.1 percent — in physical damage claims. The public insurer says the increase was offset by a drop in bodily injury claims from last year of $35.7 million.

“Bodily injury claims have appeared to return to normal levels from last year’s abnormally high levels,” said Heather Reichert, vice-president, finance and chief financial officer.

As a result, total claims costs for the first quarter of the fiscal year decreased $26.6 million compared to last year.

First quarter earnings were measured during the first three months of the year, ending May 31, 2014.

— Staff

Advertisements


Pssst, while you're here...
ChrisD.ca is Winnipeg's only independent digital news outlet, producing reliable journalism and localized content since 2007. As we grow as a company, so do our expenses into creating the news, sports and entertainment coverage you've come to expect from us. We ask that if you enjoyed reading this article that you consider making a small donation towards our efforts. It would be greatly appreciated in helping us reinvest to expand our reach and hire additional freelance reporters and photographers. Thank you!

Support ChrisD.ca ?

Sports Highlights

Comments

comments

logo