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Federal regulator takes permanent control of Maple Bank’s Canadian branch assets Feb 16th
OTTAWA – The federal banking regulator says it is taking permanent control of the assets of the Canadian branch of German-based Maple Bank GmbH.
The Office of the Superintendent of Financial Institutions is also asking the Attorney General of Canada to apply for a winding-up order with respect.... More »
Fort McMurray residents head to BC to help wildfire victims - CTV News + MORE Jul 10th
CTV NewsFort McMurray residents head to BC to help wildfire victimsCTV NewsFORT MCMURRAY, Alta. -- Seeing reports of the wildfire evacuations in British Columbia has brought back stressful memories for residents of Fort McMurray, who had to flee a massive wildfire just over a year ago. But they'.... More »
Pension planning, tuition troubles & Uber's latest pitch: BUSINESS WEEK WRAP Sep 12th
What costs more: A year at university, or five of Apple's latest gizmos? The answer may surprise you. The CBC's Jacqueline Hansen is here to walk you through the week that was in business news, and introduce you to the latest secret weapon against climate change and a magic bullet fo.... More »
New mortgage rules take effect today Oct 18th
TORONTO – New federal rules that will cut into the purchasing power of some first-time homebuyers take effect today.
The rules involve a stress test for all insured mortgage applications to ensure the borrower can still service their loan in the event interest rates rise or their personal financia.... More »
Federal budget 2016: Highlights of Bill Morneau's first budget + MORE Mar 23rd
Finance Minister Bill Morneau has tabled a budget that forecasts big deficits over the next five years and beyond to finance a new tax-free monthly child benefit, more money for First Nations, infrastructure spending and extended employment insurance benefits to hard-hit regions. Rea.... More »
How to figure your life insurance needs
– moneysense.ca
Larry Cantello died a happy man, playing hockey with his buddies until a heart attack left him unconscious. It was those who loved the cheerful father of three young sons who were distraught.
Fortunately, he left his family a financial buffer—the $50,000 of life insurance he was provided as an employee of the municipal aquatic centre in Pointe-Claire, Que., plus more assets than most have at age 45.
He left a mortgage-free home near Montreal, a couple of cars, several years of pension contributions and other savings. His four siblings quickly set up an online appeal for help. Within a month, a fund for the funeral and the boys’ education was near the U.S. $20,000 target.
So Cantello’s wife Stephanie, a teacher, can afford to stay home well beyond her maternity leave. The proceeds from the insurance will be tax-free, and family expenses will now be less. Later, however, she may find a new love and ultimately remarry.
What about you? Would you leave your children and spouse with substantial assets? Have you bought enough life insurance— the cheapest and quickest way to protect them should tragedy strike? The whole point of insurance is that you never know when calamity will strike…
Fortunately, he left his family a financial buffer—the $50,000 of life insurance he was provided as an employee of the municipal aquatic centre in Pointe-Claire, Que., plus more assets than most have at age 45.
He left a mortgage-free home near Montreal, a couple of cars, several years of pension contributions and other savings. His four siblings quickly set up an online appeal for help. Within a month, a fund for the funeral and the boys’ education was near the U.S. $20,000 target.
So Cantello’s wife Stephanie, a teacher, can afford to stay home well beyond her maternity leave. The proceeds from the insurance will be tax-free, and family expenses will now be less. Later, however, she may find a new love and ultimately remarry.
What about you? Would you leave your children and spouse with substantial assets? Have you bought enough life insurance— the cheapest and quickest way to protect them should tragedy strike? The whole point of insurance is that you never know when calamity will strike…
Smoking and Life Insurance
– life-insurance-quotes.ca
As insurance brokers we get many questions about smoking and life insurance from Canadians. Is there an “occasional smokers” rate? How much more do smoker’s rates cost? What about smoking cigars or marijuana? Read on to find out answers to these questions and more.
Sun Life reports Q1 net income of $400M; down from $410M last year
– canadianbusiness.com
TORONTO – Sun Life Financial Inc. (TSX:SLF) has reported a drop in first-quarter net income from continuing operations as increases in claims and insurance contract liabilities offset revenue from premiums, fees and investment income.
The insurance and wealth management company reported after markets closed Tuesday that it had net income from continuing operations of $400 million or 65 cents per diluted share in the three months ended March 31, down from $410 million or 85 cents per share in the same year-earlier period.
Revenue from premiums, fees and investment income totalled $6.46 billion, compared with $3.79 billion in the year-earlier period.
However, the company said gross claims and benefit paid rose to $3.2 billion from $2.9 billion,while insurance contract liabilities rose to $2.23 billion from $222 million.
Sun Life Financial offers a diverse range of protection and wealth products and services to individuals and corporate customers in the Canada and the United States, as well as in the United Kingdom and Ireland and throughout Asia, including China, Hong Kong, the Philippines, Japan, Indonesia, India and Australia…
The insurance and wealth management company reported after markets closed Tuesday that it had net income from continuing operations of $400 million or 65 cents per diluted share in the three months ended March 31, down from $410 million or 85 cents per share in the same year-earlier period.
Revenue from premiums, fees and investment income totalled $6.46 billion, compared with $3.79 billion in the year-earlier period.
However, the company said gross claims and benefit paid rose to $3.2 billion from $2.9 billion,while insurance contract liabilities rose to $2.23 billion from $222 million.
Sun Life Financial offers a diverse range of protection and wealth products and services to individuals and corporate customers in the Canada and the United States, as well as in the United Kingdom and Ireland and throughout Asia, including China, Hong Kong, the Philippines, Japan, Indonesia, India and Australia…
Sun Life’s profit edges lower in first quarter
– theglobeandmail.com
However, Canadian insurance and wealth sales grew by double digits
