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By The IJ Staff | December 26 2022 09:44AM
The past 12 months were marked by increased regulatory scrutiny, in particular with respect to tiered recruitment.
- The Financial Services Regulatory Authority of Ontario proposed a compliance order against Greatway Financial Inc.
- A joint review of three MGAs was led by the Financial Services Regulatory Authority of Ontario on behalf of six jurisdictions and the Canadian Council of Insurance Regulators.
- Sun Life reviewed its compensation structure for advisors.
- Empire Life acquired and amalgamated a number of MGAs.
- In a letter to the editor, Experior shared its concerns about regulators’ report.
- Individual insurance claims soared compared with 2019.
- In terms of growth, universal life premiums outpaced whole life premiums in the fourth quarter of 2021.
- The insurance industry is shaping the discourse with governments about climate change and talking to clients about mitigating their own risks.
- Customplan Financial Advisors and OM Financial Inc. forged a strategic alliance.
- Ontario regulator raised concerns that are not supported by facts, stated Greatway.
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