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Pension plans ramp up risk reduction transactions

By Alain Thériault | April 29, 2024, 10:34 a.m.

Photo: Freepik

Interest rates boost sales of group annuities.

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Headlines

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Flash

Construction insurance capacity grows while pricing remains stable

Marine insurers particularly exposed to geopolitical risks

Self-reported mental health declines among children

European cross-border medicine example touted as a solution for Canada

Investments

Defined benefit pension plan membership numbers increase

Pensions continue derisking

iA Financial Group reports 5% increase in net income for second quarter of 2024

Pension investment returns positive in the second quarter of 2024

Life Insurance

Canadian life application activity flat in August

Seniors least likely to have dental insurance

Ontario ministry scrutinizes preferred provider networks

Return to work tactics bolstered by research

ASSUMPTION LIFE

Age makes all the difference for 20-year term insurance

Insurers boosted by simplified issue insurance sales

A veteran of the Client Management Software industry returns

Assumption Life insurance sales surged in 2023

TELUS

Mental Health challenges: Effective solutions often overlooked

Novo Nordisk's new anti-obesity drug spurs high demand

May a month of mixed results for pension plans

Nearly half of workers exhausted by the end of the day

IA FINANCIAL GROUP

Investors concerned about major US companies’ stock performance

Economic uncertainty fails to dampen Canadian life insurers' performance

Inflation eases in a cautious climate

Markets confirm the value of long-term financial plans

WTW (ex-WILLIS TOWERS WATSON)

Aviva Canada's profit declines 10% in the first half of 2024

Aging infrastructure leading to increased losses

Ratings and research agency examines post-pandemic mortality assumptions

Willis Towers Watson appoints head of Canadian Broking Team

SUN LIFE FINANCIAL

Global healthcare reinsurance premiums continue to rise

Sun Life's net income down slightly in the second quarter

Focus on employee’s financial well-being non-negotiable

Women’s health issues affect career advancement

GENERAL MOTORS

Sun Life team examines pension risk transfer questions

Pension risk transfers surge in Canada

Sun Life spells out its appetite for longevity risk

The General Motors longevity risk deal was one year in the making

CANADA LIFE

Great-West Life’s net earnings rise by 77%

Great-West earnings up 61 per cent for the first quarter of 2024

Great-West's earnings down by 24 per cent in 2023

Overhead expense insurance to prevent business disruption

DESJARDINS

Deaths among off-road vehicle riders on the rise

Desjardins reports 152% surge in insurance surplus earnings for the second quarter

30 leaders will examine the future of life insurance distribution

Insurers defend their climate transition plans

BROOKFIELD ANNUITY

BMO Insurance considers higher profile going forward

Total global assets under management decline in 2022

Life insurance: Financial results of 25 insurers in Canada in 2022

Sun Life and Brookfield sell buy-in annuity contracts to Stelco plan

BANK OF CANADA

Pension plans show strength amid market volatility

Growing use of private assets by insurers raises concerns about liquidity risk

Bank of Canada cuts rates as growth slows more than forecast

Decelerating inflation figures could mean interest rate cut in June

MERCER

Insurers express increased appetite for private market investments

Defined benefit pension funding increases in the first quarter of 2024

Executives think generative artificial intelligence will deliver gains over 30 per cent

Geopolitical risks stoke investor fears

AON

Reinsurers called out for retreating from risk

Jasper wildfire drives insured losses even higher

The first half of 2024 marked by storms and floods

Global outage will have limited impact on insurance

BMO

BMO Wealth Management sees 9 per cent decline in third quarter profits

Investors flock to equity exchange-traded funds

BMO increases wealth management earnings by 33% in second quarter

Insurers pushing their limits in accelerated underwriting

RBC

RBC reports 29% rise in third-quarter wealth management earnings

Managing change and transformational initiatives

RBC Wealth Management net income rises 7% in second quarter

Your client’s concerns in 2024

CO-OPERATORS

Co-operators General reports $96 million profit in second quarter

Insurers should abandon fossil fuels, say investors

AIG continues restructuring by selling travel insurance portfolio

Sustainable claims processes save cooperative millions

Distribution

Managing general agencies: A closer look at Ontario’s proposed licensing requirements

Life insurance application activity climbs in Canada

Intact nearly triples profit in Q2 2024

Term life insurance policies see the highest increase in 2023

Investment

Industry job vacancies jump more than 37 per cent in May

Hurricane season not expected to impact reinsurer’s credit ratings

iA Financial Group acquires 115,000 policies

BrokerLink acquires two more firms in the Toronto area

Special risks

Poor integration of current technologies hinders pricing

Ways to mitigate damage caused by breaches

Coalition reviews 2023 claims results

Six years of missing errors and omissions insurance costs agency

Strategy

Applied Systems acquires artificial intelligence firm

Ontario ministry proposes managing general agency licensing regime

Health Canada takes on appropriate medication use

No rate changes for commercial insurance market in Q2 2024

Retirement

Taxes would need to rise dramatically to meet demands of demographic change

Legislative changes have implications for plan administrators

Downward trend in labour force participation expected to persist until 2030

Retirees and pre-retirees may need to adapt their plans and strategies

Analytic

Actuaries climate index rose in early 2024

Nearly half of Canadians have difficulty meeting day-to-day expenses

Empire Life posts net income of $35 million for the second quarter of 2024

Definity reports 32% increase in second quarter net income

Economy

U.S. liability risks expanding rapidly

Growing number of consumers insolvent

Markets buoyed by confidence in earnings

Lending environment in Canada changes post COVID-19