Insurers say they won't compete in core banking fields

Article Abstract:

Life insurance companies have no chance of winning against much stronger Canadian banks in the competitive banking fields of deposit and loans, noted Mutual Life Assurance Co. of Canada chief executive officer Robert Astley. Senator Richard Kroft expressed disappointment that the life insurance firms were reluctant to offer the same services as the banks. Manufacturers Life Insurance Co. CEO Dominic D'Alessandro noted that Mutual Life does run an extensive lending program despite its inability to provide loans to small and medium-sized businesses.

Comment:

Canada: Life insurance companies cannot win against much stronger banks in competitive banking fields of deposit and loans

Commercial Banks, Commercial Banking, Marketing procedures, Article

---

Insurer takeovers seen looming

Article Abstract:

Industry analysts expect Sun Life Financial of Canada to make an acquisition bid for rival Waterloo, Ont.-based Clarica Life Insurance Co. Sun Life Financial, which also may bid for Toronto, Ont.-based Canada Life Financial Corp., is expected to take advantage of the lifting of Canada's ban on demutualized life insurers mergers.

Asset sales & divestitures, Acquisitions & mergers, Government regulation (cont), Life insurance, Mergers, acquisitions and divestments, Insurance industry, Life insurance industry, Clarica Life Insurance Co., Canada Life Financial Corp., Sun Life Financial of Canada

---

Similar abstracts:

• Abstracts: Rothmans' may be near end as company faces triple threat. Rothmans' hopes for further acquisitions seen dimming
• Abstracts: A milkman becomes king of megadeal. MCI, Sprint in merger talks to create long-distance giant
• Abstracts: Why Onex is chasing ambulances in the United States. EMI-Time Warner a loud merger
• Abstracts: Canada's growth forecast scaled back. ECB rate cut leaves Canada looking like a true contrarian
• Abstracts: Sun Life venture in India triples assets. Sun Life reported to sell U.K. fund unit

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.