Canadian insurers say reserves should cover prolem annuities

Article Abstract:

Two Canadian insurance companies reported that they have increased their reserves to cover exposures in their respective British units. Sunlife Assurance Company of Canada has raised its guaranteed annuity reserves to C$379 million pretax in 1998, while Canada Life Assurance Co increased its pretax reserves to C$113 million. S&P has said that UK insurance companies may have to take a total of 14 billion pound sterling (C$33.75 billion) in reserves to make good on guaranted annuities that have failed to deliver promised returns becasuse of the decline in interest rates.

Life Insurance, Direct Life Insurance Carriers

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Soup business heats up after slow simmer

Article Abstract:

Kettle Cuisine Inc. is a Somerville, MA-based company that makes prepared, ready-to-heat soups for restaurants. The firm was founded in 1986 by Jeremiah Shafir and partner Christopher Nessen. It has taken the soup company eight years to achieve its sales target for sustainable profitability. The firm, on its 13th year, offers over 40 varieties of soup. Kettle Cuisine, which is fully-owned by Shafir, distributes its soup products to around 2,000 eateries.

Strategy & planning, Prepared Perishable Foods, Perishable Prepared Food Manufacturing, Convenience foods

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