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

By Alain Castonguay | June 22, 2023, 10:55 a.m.

Life insurance companies boosted their net income in 2022 compared with the previous year.

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Headlines

Canada performs poorly in exercise ranking seniors’ care

Employees with fewer paid days off have higher rates of absenteeism and presenteeism

Client complaint about forged signature leads to trouble with regulator

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Canada performs poorly in exercise ranking seniors’ care

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Credit card fraud leads to three-year license suspension

Ratings and research agency examines post-pandemic mortality assumptions

Life Insurance

Digital technology and artificial intelligence boost innovation in the insurance market

Employee healthcare costs to jump by more than $1,000 in 2024 for U.S. companies

Association says virtual care in dentistry could increase incidence of fraud

Regulators to review exchange-traded fund rules

BMO

Discretionary trading lands investment representative $15,000 fine

Pension plans purchase a record number of annuities

BMO: Earnings plunge 78 per cent in second quarter

Representative sanctioned and fined $40,000 for off-book transactions

CANADA LIFE

PC Insurance and Loblaw aim to expand in auto and home Insurance

Executives share views on industry modernization ahead of November conference

The year of questions: Navigating 2023's uncertainties

“Create Some Fire and Pass the Torch”

CHUBB

Fairfax among top insurers globally underwriting cyber risks in 2022

Property and casualty insurance: Financial results of 170 insurers in Canada in 2022

Desjardins to acquire stake in Canadian insurer

Chubb study examines preferences of high-net-worth clients

CO-OPERATORS

Term insurance: A product more complex than it seems

Catastrophes dragged down Co-operators’ net income in 2022

Co-operators survey finds the majority are unprepared for financial challenges

Co-operators acquires employee benefits insurtech firm

COMBINED OF AMERICA

Chubb subsidiary in Canada names new president

Combined Insurance aims to grow net premiums by 70% and opens the door to life insurance brokerage

DESJARDINS

The financial strength of property insurers remains excellent

The financial strength of major life insurers remains stable

Sun Life virtual pharmacy to promote treatment adherence

Desjardins’ income falls 24 per cent in first quarter

EMPIRE LIFE

Empire Life increases earnings in first quarter 2023

Guaranteed withdrawal benefit plans pivotal for retirement planning

Empire Life’s net income down 15 per cent in 2022

Insurer and association team up for webinar on group benefits trends

EQUITABLE LIFE

Equitable Life launches First Home Savings Account

Equitable Life launches small business group benefits plans

Former agents sanctioned for altering immigration documents to support applications

Mutual insurer posts second highest earnings result in company’s history

FORESTERS

Foresters Canada president announces retirement

Report examines financial impact of COVID-19 deaths on life insurance industry

Equitable Bank expands insurance lending program

COVID-19: First two waves affected mortality

IA FINANCIAL GROUP

High rates: Caution and optimism coexist

Denis Ricard elected industry association chair

iA Financial Group achieves record first quarter in 2023

Travel insurance comparison site expands into Canada

MANULIFE

License revoked for employing unlicensed and previously sanctioned representative

Manulife managers focus on conditions challenging typical portfolio construction

Manulife Investment Management share investment outlook

Investment manager examines emerging market debt

NATIONAL BANK

Sun Life moves to acquire Dialogue

iA Financial appoints new wealth management executive

Regulator fines National Bank Financial $250,000 plus investigation costs

Quebec arm of investment funds organization re-elects chair

PRIMERICA

Primerica highlights unintended consequences of regulation

End is near for “old-style” applications

Advisor Faces Hearing for Use of Pre-Signed Forms

RBC

Steady returns and stronger pension plan positioning

Ontario representative fined for fraudulent representations

RBC reports a 14 per cent drop in second-quarter earnings

Poll finds majority aren’t aware of the estate planning benefits of insurance

SUN LIFE FINANCIAL

Regulator revokes license for fraud, demonstrated untrustworthiness

Sun Life discusses record-breaking year in the pension risk transfer market

Benefits Alliance and Pocketpills join online pharmacy landscape

Sun Life the best offer on the table according to Dialogue

Regulator continues crackdown on efforts to thwart client feedback

Efforts to thwart client feedback ends in regulatory sanctions

TD Bank reports a 12 per cent drop in earnings in the second quarter of 2023

TD Insurance enters small business market

UV INSURANCE

Interest rates propel UV Insurance's profit in 2022

Individual critical illness insurance: The main products available in Canada

UV Insurance names new board chair

Health comes first for UV Insurance

BENEVA

Beneva drops Penncorp products due to lack of profitability

Beneva joins media companies in pulling advertising dollars from Meta

Employee assistance programs still underutilized

The labour shortage: Both a challenge and an opportunity for insurers

BROOKFIELD ANNUITY

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

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

Sun Life leads group announcing $1.8-billion annuity buy-out

Defined contribution pension plan sales soar in Q3 2019

Analytic

Employees with fewer paid days off have higher rates of absenteeism and presenteeism

Self-regulatory organization hosts webinar outlining operations expectations

United States’ property and casualty industry records underwriting loss

Pandemic loan extensions “not good enough”

Infographic

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Aviva’s insurance sales climb 13 per cent in first quarter

Definity boosts earnings in the first quarter of 2023

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

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