Extension
Operations reported net income of $8.0 million, up $4.7 million from the $3.3 million net income reported last year.

Total earned revenues increased by $11.1 million to $69.8 million. All products contributed to the increase in premium revenue.

Total claim costs, including claims, loss prevention and road safety expenses, increased by $8.4 million to $53.2 million. Physical damage claims costs increased by $2.6 million, exhibiting the same trends as the Basic line of business. Injury claims increased by $5.1 million due mainly to adverse development on claims which occurred in prior years compared to the favourable development experienced last year.

Extension’s share of the corporate investment income increased by $4.9 million to $8.9 million. As with the Basic line of business, the positive growth relates to the gains realized from the corporation’s equity portfolio.

YEARS ENDED FEBRUARY 2 9 / 2 8
(IN THOUSANDS OF DOLLARS)		2004		2003		2002		2001		2000
Extension Five Year Statistics
Premiums written		73,182		61,494		52,325		43,608		39,179
Claims incurred		46,425		38,677		45,314		37,100		33,134
Claims expense		6,255		5,522		6,899		6,191		5,443
Other expenses		18,015		15,241		13,402		11,866		10,497
Income (loss)		8,001		3,292		(111,606)		(6,130)		(3,783)

...Results of Operations > Current Year and Last Year > Special Risk Extension