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Great-West Lifeco’s U.S. subsidiary makes acquisition

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By The IJ Staff | July 22, 2021, 9:15 a.m.

Flash | Annuities | Investments | Life Insurance | PRUDENTIAL | EMPOWER RETIREMENT | DBRS | GREAT-WEST LIFECO | MASSACHUSETTS MUTUAL | Strategy | Retirement | Mergers and acquisitions | Financial results | International

The total transaction value is C$4.45 billion.

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Headlines

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Life and health insurers pay out more than $312-million each day

Artificial intelligence talent concentrated in Canada

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Flash

Canadian artificial intelligence code of conduct is voluntary, says minister

Life and health insurers pay out more than $312-million each day

Manulife takes swipe at annuity buy-in market

Insurance CEOs discuss outlook at recent financial summit

Annuities

Manulife’s net income skyrockets by 279.3 per cent

iA's net income falls 12.7 per cent

Stock markets fuelled segregated fund sales in 2021

Desjardins’ earnings: sharp decline in property & casualty segment

Investments

Regulators to review exchange-traded fund rules

Mutual fund redemptions continue in first half of 2023

May 2023 sales figures released for mutual funds and exchange-traded funds

Financial regulators convene total cost reporting committee

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

Insurers should reimburse medications for treating obesity

PRUDENTIAL

“Create Some Fire and Pass the Torch”

Great-West Lifeco's net earnings down 21.1 per cent

Great-West Lifeco posts second quarter net earnings of $735 million

Great-West Lifeco CEO addresses insurance conference

EMPOWER RETIREMENT

Life insurance: Fitch assesses the Big 3

Great-West Lifeco more than doubles its net income

Great-West subsidiary to make U.S. acquisition

Great-West Lifeco subsidiary completes acquisition

DBRS

The financial strength of major life insurers remains stable

Council of insurance regulators appoints new executive committee members

P&C insurers can absorb the costs of Fiona

Property & Casualty insurers’ results expected to remain resilient

GREAT-WEST LIFECO

Great-West Lifeco latest company to be targeted by Obatan

Great-West Lifeco sells Putnam to Franklin Templeton

Great-West: Net income declines in first quarter 2023

Great-West maintains net earnings at $3.2 billion

MASSACHUSETTS MUTUAL

Technology driving growth of certain term life products

Great-West Lifeco earnings rise in fourth quarter

Technology is here to help advisors, not replace them

LIMRA announces life insurance blockchain advisory council

Strategy

Artificial intelligence talent concentrated in Canada

Regulator publishes competency profiles for approved persons

Think tank says new energy efficiency mandates will increase building costs

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

Retirement

Ontario seeks feedback on permanent target benefit pension framework

Regulator seeks feedback on pension plan framework updates

Insurance association puts forward federal budget recommendations

Underwriters make recommendations ahead of 2024 federal budget

Mergers and acquisitions

Hub International acquires Ontario cannabis insurance brokerage

Trade credit insurance companies join forces to build capacity

Westland announces expansion into other provinces

Hub International acquires commercial transportation specialists

Financial results

Regulator report says defined benefits pension plans performed well in 2022

Loan delinquency on the rise for credit unions

Dedicated reinsurance capital saw decline in 2022

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

International

United States’ life and annuity industry net income declines

Canada performs poorly in exercise ranking seniors’ care

United States’ property and casualty industry records underwriting loss

Reinsurance well capitalized but performing badly