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
Tim Johal of Mackenzie investments says Canadian banks are better risk managers, more profitable, more predictable and less volatile