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Insurance CEOs discuss outlook at recent financial summit

By Kate McCaffery | Sept. 27, 2023, 10:58 a.m.

Photo: Freepik

Distribution, acquistions and excess capital deployment all top of mind for executives.

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Headlines

Fallout of a cyber catastrophe modelled by reinsurer

Average fund fees declined following implementation of disclosure rule amendments

Close to one-in-ten seniors worked out of necessity in 2022

Related topics …

Flash

Fallout of a cyber catastrophe modelled by reinsurer

Average fund fees declined following implementation of disclosure rule amendments

Close to one-in-ten seniors worked out of necessity in 2022

Wholesalers have growth ambitions

CANADIAN INVESTMENT REGULATORY ORGANIZATION (CIRO)

Agent who defrauded retired couple banned from securities registration

Mutual fund rep fined close to $1.7-million

Sanctions for pre-signed forms levied against former Fredericton rep

Firm fined $1.5 million for failing to supervise trading activity

IA FINANCIAL GROUP

Insurers boosted by simplified issue insurance sales

iA Financial acquires Laurentian Bank’s full-service brokerage division

Commercial real estate adversely affects insurers’ 2023 financial results

iA Financial Group’s earnings up 149 per cent in 2023

INVESTMENT PLANNING COUNSEL (IPC)

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

Canada Life discusses Value Partners acquisition

Great-West: Net income declines in first quarter 2023

MFDA promises funds to meet need for free legal services

SUN LIFE FINANCIAL

Direct simplified issue offerings benefit advisors eventually

A veteran of the Client Management Software industry returns

Insurers coordinate to execute annuity buy-out deal for Ford of Canada

Sun Life earnings up 11 per cent in 2023

INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)

Firms, associations and reps weigh in on advisor compensation

Regulator sanctions agent twice for same infractions

Regulator orders $30,000 fine, costs and disgorgement in suitability case

Enforcement year in review unveiled by new regulator

CANADA LIFE

Overhead expense insurance to prevent business disruption

Buy-sell insurance: A safeguard in tough times

Leadership change for Canada Life's Canadian operations: Jeff Macoun to retire

Several new developments in permanent life insurance

INTACT

New tool available to help municipalities mitigate flood risk

BrokerLink closes three transactions

Intact's profit declined 46 per cent in 2023

Ontario insurance regulator fines wellness centre and principals for fraud

MUTUAL FUND DEALERS ASSOCIATION OF CANADA (MFDA)

Repeat offender thrown out of the industry permanently

Representative fined $125,000 and banned for accepting power of attorney

Representative switching firms fined $20,000 for 47 pre-signed forms

Assistant terminated and sanctioned for two years over pre-signed forms

GREAT-WEST LIFECO

Mergers and acquisitions: key transactions of 2023

Canada Life exits residential mortgage market

Great-West Lifeco latest company to be targeted by Obatan

Great-West Lifeco sells Putnam to Franklin Templeton

MANULIFE

Insurers pushing their limits in accelerated underwriting

Manulife reinsures $5.8 billion of reserves for block of universal life business

Water risks are an opportunity for investors

Firm warns that rising rates won’t help defined benefit plans forever

DEFINITY FINANCIAL CORPORATION

Swiss Re increases stake in Definity

Definity's earnings up 215 per cent in 2023

Prospects are favorable for property and casualty insurers

Climatic events weighed on insurers’ results in 2023

Distribution

Casualty rates excluding auto liability decline at the start of 2024

Income inequality gap widens in 2023

Your client’s concerns in 2024

Harnesssing group insurance data: The Power of statistics

Strategy

Race to insure electric vehicles could change the industry

Insurer divests U.S. business to focus on Canada

Quebec flood zone map raises concerns even before its release

Tips for increasing your firm’s value

Technology

Embracing artificial intelligence is crucial for industry

Insurers warned that technology experimentation is needed to reap benefits

Rep fined for selling personal cryptocurrency assets to clients

Insurance and collision repair industries being reshaped in the United States

Analytic

National Flood Insurance Program promised again in budget

Pension funding rises in March

Six out of ten workers not performing to their full potential

Cancer incidence higher for those living within 50 kilometers of a wildfire

International

Natural catastrophe losses globally exceed $43-billion

Drug plan sponsors encouraged to set up usage guardrails for new therapies

Reinsurers perform strongly despite catastrophe losses in 2023

Electric vehicle drivers should expect to pay more for insurance

Economy

BMO Insurance considers higher profile going forward

Challenging environment expected to continue for fintechs

Global survey finds majority of insurers will change technology platforms by 2025

Digitalization and personalization: The Canadian insurance industry at a crossroads

COVID19

Industry issues less debt in 2023

New Jersey Supreme Court finds in favour of insurers in business interruption case

Swiss Re expects global growth to shift down markedly

Statistics Canada publishes long COVID study