Canadian Underwriter

TD insurance operations see strong growth

February 27, 2003   by Canadian Underwriter

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In reporting its overall results for the fourth quarter and yearend 2002, TD Bank Financial Group notes that insurance products brought in gross premiums of $282 million during the last quarter of the year. This is up $56 million, or 25%, over fourth quarter 2001, the company notes.
TD sells insurance through its TD Insurance and Meloche Monnex operations, part of TD Canada Trust.
Overall, insurance revenues increased 10% or $8 million year-over year for the fourth quarter.
The company says it will focus on insurance moving forward in order to grow its marketshare, which is below target.

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