Outlook for insurers poised to decline: Fitch
Inflation is less of a concern in the life insurance sector, report says
- By: James Langton
- September 7, 2022 September 7, 2022
- 09:45
Inflation is less of a concern in the life insurance sector, report says
Ivari, formerly Transamerica Life Canada, offers life insurance and critical illness products
Changes to the life insurance capital adequacy test, released in July, take effect in 2023
“Companies are going to have to and want to change with the times,” says financial advisor
The firm reported net income attributable to common shareholders of $151 million in Q1, down 13%
A Budget 2022 proposal means life insurers could have to pay tax up front on profit earned on 20-year policies, says CLHIA
In examining dozens of agents, Ontario’s regulator identified 334 “business practice” issues
CEOs of the three biggest lifecos all exceeded their performance targets last year
Ontario's regulator is expanding oversight reviews after a pilot effort found widespread shortcomings
Regulator aims to boost consumer protection with oversight of agents' qualifications
Canadian insurers well positioned to deal with elevated risks from IFRS 17
The seg funds look to invest in companies with strong ESG practices
The goal is to simplify the firm's offering to its customers and advisors
Fellow life insurers Manulife and Sun Life also announced dividend hikes this month
Insurers welcome the dismissal
A client scenario compares cash dividend versus policy withdrawal
Total cost reporting for seg funds as well as title regulation are on the docket for fiscal 2022–23
The firm's advisors have no minimums and are looking to serve "everyday Canadians"
The Guardian Capital subsidiary bought the Quebec firm's life and health insurance business and seg fund assets
A similar amount was paid in disability benefits to support recovering workers
FSRA's consultation also includes insurers' related obligations to ensure agent suitability
Rising prices, economic recovery support sector’s earnings
Emergencies would negatively impact most people's finances
Strong diversification and conservative investment policies kept portfolios performing well
The deal is expected to close in the first half of 2022