Big Four Canadian life insurers report near-record profits for 2022, DBRS says
Changes include two business banking leadership shifts
Results reflect impacts of Hurricane Ian, market volatility
Lower mutual, segregated fund sales dampen Canadian results
The quarterly results reflect the insurer's medium-term goals, the CEO said
How inflation affects policyholder behaviour remains to be seen, an analyst with A.M. Best Company Inc. says
The Winnipeg-based insurer reached $872 million in net earnings for the quarter
Lifeco will sell its Colorado-based subsidiaries and commit capital to Sagard
MassMutual business contributed to the results
The $4.45-billion transaction is expected to close in the first quarter of 2022