Results reflect impacts of Hurricane Ian, market volatility
Insurance sales in Canada were up 28%
Positive industry trends, not regulatory arbitrage, supported sales last year
At an annual Advocis event, FSRA raised concern about sales incentives being misaligned with customer needs
The regulator alleged a firm's training instructs life agents to mislead consumers, which the firm refutes
Going beyond investments with clients remains a good way to add value, particularly in down markets
Organization expects excess deaths and life insurance claims to be lower going forward
Draft Ontario MGA regulation coming in 2023 as a result of concerns found in FSRA's review
The lifeco is expanding its Vitality program to universal life and par policies
Also, annuity and seg fund premiums increased 21%