Page Named New Optimum General President, CEO

Canadian P/C insurer Optimum General Inc. has named Jean-Claude Page as its new president and CEO, following the retirement of David B. Liddle. The change was effective April 29, and was announced at the company’s annual general meeting of shareholders.

“On behalf of all shareholders and members of Management, the Board of Directors wishes to thank Mr. Liddle for his contribution to the company and its subsidiaries over the past twenty years,” said the Board’s announcement.

The company’s results for fiscal 2004, which were previously released on Feb. 28, 2005, have also been presented by Management at the annual general meeting of shareholders. The net income has almost doubled, compared to 2003, rising to C$3.6 million (U.S.$2.854 million) or C$0.31 per share (U.S. 24.5 cents). “Management expects that the company will maintain good results in 2005,” Page indicated.

Optimum General Inc. is a Canadian company that underwrites mainly in Canada property and casualty insurance through four subsidiaries: Optimum West Insurance Company in British Columbia, Alberta and the Yukon; Optimum Frontier Insurance Company in Ontario, Manitoba, Saskatchewan, the Northwest Territories and the Territory of Nunavut; Optimum Insurance Company Inc. and Optimum Farm Insurance Inc. in Quebec.

The products of its four subsidiaries are distributed through a wide network of independent insurance brokers.