Canadian home building rebounds on condos

[np_storybar title=”China’s housing crackdown may drive cash to Canada’s condo market” link=”https://business.financialpost.com/2013/03/05/chinas-housing-crackdown-may-drive-cash-to-canadas-condo-market/?__lsa=0dff-7601″%5DA crackdown on real estate ownership in the world’s most populous county this week might translate into more money in Canada’s real estate market. Read more [/np_storybar]OTTAWA — A big month-to-month jump in multi-unit housing construction is being credited with a higher rate of Canadian housing starts in February.Canada Mortgage and Housing Corp. says its seasonally adjusted rate of housing starts rose to 180,719 units in February, up from 158,998 in January.The main reason for the increase in housing construction was an 18.4% rise in urban starts, led by a 27.7% increase in multiple-unit dwellings such as condos and apartments.The actual number of housing starts last month, without seasonal adjustments, was down year-to-year.There were 10,965 starts last month, down from 12,247 in February 2012. read more

Saskatchewan Government Insurance records 845M profit in 201516

REGINA – Saskatchewan Government Insurance says it had a profit of $84.5 million last year despite flooding and forest fires.The Crown insurer says both sides of its operations saw strong results.The Saskatchewan Auto Fund handles the province’s compulsory public coverage for drivers, while SGI Canada deals with property and home insuranceDon McMorris, minister responsible for SGI, says profitability in 2015-16 was due to favourable underwriting results and investment earnings.McMorris also says SGI Canada achieved growth in the five provinces where it operates, despite economic downturns in Alberta and Saskatchewan.SGI says there were a relatively low number of damage and injury claims, and a mild winter and recent traffic safety initiatives helped.Some 121 fatalities were the lowest number in quite some time, the insurer said.SGI Canada is the competitive arm of SGI and sells property and casualty insurance in Saskatchewan, Alberta, Manitoba, Ontario and British Columbia.(CTV Regina) by The Canadian Press Posted Jul 18, 2016 2:46 pm MDT Last Updated Jul 18, 2016 at 3:40 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Saskatchewan Government Insurance records $84.5M profit in 2015-16 read more