Great-West Lifeco profit down 21% in latest quarter
Results reflect impacts of Hurricane Ian, market volatility
- By: Staff
- November 3, 2022 November 3, 2022
- 15:44
Results reflect impacts of Hurricane Ian, market volatility
Positive industry trends, not regulatory arbitrage, supported sales last year
At an annual Advocis event, FSRA raised concern about sales incentives being misaligned with customer needs
The regulator alleged a firm's training instructs life agents to mislead consumers, which the firm refutes
Going beyond investments with clients remains a good way to add value, particularly in down markets
Organization expects excess deaths and life insurance claims to be lower going forward
Draft Ontario MGA regulation coming in 2023 as a result of concerns found in FSRA's review
The lifeco is expanding its Vitality program to universal life and par policies
Also, annuity and seg fund premiums increased 21%
The move follows a regulatory warning earlier this year to stop DSC sales of seg funds
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
The insurer will stop accepting new business for four non-cancellable disability products as of Sept. 30
Clients now get protection for at least 90% of their death benefits, seg fund guarantees and other coverages if their life insurer fails
Advisor chargebacks need robust controls, CCIR and CISRO said
Ahead of the proposed DSC ban for seg funds, a familiar refrain is in play
A study of programs in other countries provides insights for Canada, the National Institute on Ageing says
One in 10 Canadians, many lacking employer-sponsored disability coverage, work in the gig economy
The collaboration aims to promote better health outcomes within group benefits