Sale of U.S. annuity business reflects firm's strategy to shift away from non-core businesses
Business accounted for much of the earnings volatility experienced by Sun Life over the past five years
Once viewed as a product with limited uses and too many drawbacks, the certainty provided by an annuity is becoming more appealing. Many retiring boomers want to make sure that the basics are covered, no matter what the future holds
Insurer to focus on developing U.S. life insurance business
Comments sought on draft advisory
With uncertainty surrounding pension plans, Peter Wouters, director of retail insurance products and marketing with Kingston, Ont.-based Empire Life Insurance Co., says many investors are still looking for a guaranteed source of income that lasts a lifetime. He explains how annuities can work in an environment of low interest rates. He spoke with reporter Olivia Glauberzon at the TMX Broadcast Centre in Toronto.
These days, many clients are seeking out annuities to provide stable income in retirement
Latest move intended to keep the businesses of banks and insurers separate, Flaherty says
Decision follows strategic review
