Northbridge Financial Comments on Equity Portfolio Investments

TORONTO, ONTARIO - (Marketwire - Nov. 20, 2008) -

(Note: All dollar amounts in this news release are expressed in Canadian dollars)

Northbridge Financial Corporation (TSX:NB) today announced that it has removed the downside protection on its equity portfolio investments by covering its S&P and S&P/TSX60 equity index total return swaps.

As of October 31, 2008, Northbridge held approximately 70% of its investment portfolio in cash, treasury bills and government bonds, and continued to hold credit default swaps. The credit default swaps are extremely volatile, with the result that their market value and their liquidity may vary dramatically either up or down in short periods, and their ultimate value will therefore only be known upon their disposition. Similarly, the values of Northbridge's other portfolio investments, including treasury bills, government bonds, other fixed income securities and equities are also volatile, and particularly so given the increased volatility of current financial markets, and their ultimate value will only be known upon their disposition.

Northbridge is the largest commercial property and casualty insurance group in Canada, providing property, automobile, general liability and a wide range of other commercial insurance products to businesses primarily in Canada. Northbridge common shares are listed and traded under the symbol NB on the Toronto Stock Exchange. Visit Northbridge's website at www.norfin.com for more information.

Website: www.norfin.com

Tags: ,Financial Services,Insurance,STOCK/OTHER MARKET NEWS

Editorial Cartoons
Political Cartoons

<style> /* RESET STYLES */ .fxw hr,.fxw div,.fxw span,.fxw h1,.fxw h2,.fxw h3,.fxw p,.fxw a,.fxw em,.fxw img,.fxw strong,.fxw ol,.fxw ul,.fxw li {margin: 0;padding: 0;border: 0;outline: 0;font-weight: inherit;font-style: inherit;font-size: 100%;font-family: inherit;vertical-align: baseline;line-height: 1;list-style: none; } .fxw {font-family: Arial, sans-serif !important;font-size: 11px !important;border: 1px solid #004c00;background-color: #fff;position: relative !important;} .fxw .clear {clear: both !important;height: 1px !important;overflow: hidden !important; } /* Header */ .fxw_header {color: #fff;background: #004c00;padding: 10px !important;font-weight: bold !important;font-size: 14px !important;} /* Footer */ .fxw_footer {color: #fff;background: #004c00;padding: 10px !important;} .fxw_footer a{text-decoration: none !important;font-weight: bold !important;color: #fff;} .fxw_footer .fxw_pipe {padding: 0px 3px 0px 3px;} /* Body */ .fxw_body {padding: 10px !important;overflow: auto !important; } /* Story Item */ .fxw_story {border-bottom: 1px solid #e3e3e3 !important;padding-bottom: 8px !important;margin-bottom: 8px !important;} .fxw_story.fxw_last {border: 0px !important;} .fxw_story.fxw_image {padding-left: 60px !important;} .fxw_story.fxw_image img {float: left;width: 50px;margin: 0px 0px 0px -60px;} /* Story Title */ .fxw_title {margin: 0px !important;padding: 0px !important;} .fxw_title a {text-decoration: none !important;font-weight: bold !important;font-size: 12px !important;line-height: 16px !important;color: #000099; } /* Story Description */ .fxw_desc {color: #666;padding: 0px !important;margin: 1px 0px 0px 0px !important;line-height: 14px !important;font-size: 11px !important;} /* Story Image */ img.fxw_image {width: 35px !important;height: 35px !important;margin: 2px 0px 0px -45px !important;float: left !important;} </style> <script type="text/javascript"> fxw_city = ''; fxw_limit = 6; fxw_source = ''; fxw_topic = ''; fxw_id = 'fxw_container'; fxw_target = '_blank'; fxw_showImage = false; fxw_showDescription = false; fxw_customCSS = true; </script> <script type="text/javascript" src="http://fwix.com/tools/widget/v1"></script> <a href="http://fwix.com" id="fxw_clear"><img src="http://fwix.com/images/clear.gif" border="0" title="Fwix - Your New Local Newspaper" /></a>

NEWS

WIRES

OTHER

TECHNOLOGY

NEWSPAPERS

Northbridge Financial Comments on Equity Portfolio Investments