RBC Capital Raises Cdn Insurance Price Targets

� Expecting a Solid Q4/05 � Raising Price Targets. In advance of what we expect will be a solid Q4/05 reporting season, we are rolling forward our EPS estimates one quarter and raising our sector target multiple by 1 point to 15x. Our underlying EPS estimates and ratings remain unchanged.� Raising Target P/E by 1x to 15x to Reflect Higher Rates. In concert with the recent concerted upward push in