Deferred annuities were first introduced in 2019 federal budget
High rates and demand led the firm to re-enter the market five years after exiting
Firm is the latest to trim staff as economic uncertainty weighs
In Canada, wealth and asset management saw a 14% increase in profitability from a year earlier
Individual wealth management had net outflows of $427 million
Vericity includes insurance carrier Fidelity Life and direct-to-consumer agency eFinancial
Rising interest rates led to drops in net income for Great-West Lifeco and Sun Life
Advisors should be as thorough as possible when going through insurance applications with a client
The US$4.3-billion deal is expected to close in the first half of 2024
Both companies said there was no guarantee that an agreement will be reached