Results reflect impacts of Hurricane Ian, market volatility
Insurance sales in Canada were up 28%
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
Shifts occurred across all industry segments
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%
Ivari, formerly Transamerica Life Canada, offers life insurance and critical illness products
Changes to the life insurance capital adequacy test, released in July, take effect in 2023