“Quality over quantity” is the mantra of smaller insurers these days
Union of Canada Life is the first Canadian insurer to fail since 1994
Low interest rates impairing the outlook for insurers
Tighter regulations will result in increased claim payments and additional expenses
New name offers unified brand for insurer acquired by Foresters in 2008
Fitch affirms ratings Sun Life Financial and its Canadian life insurance subsidiary
Low interest rates and volatile stock markets in North America have pushed Canadian insurers to expand their ventures in emerging markets.
Stock market declines, increases in credit spreads weighed on liquidity this year
Once interest rates start rising, the share prices of Great-West Life and Industrial Alliance should bounce back
Decision follows strategic review