On February 28, 2023, DBRS Limited (DBRS Morningstar) confirmed all ratings on iA Financial Corporation Inc. (iA or the Company) and its related entities, including iA’s Issuer Rating, at “A” and Industrial Alliance Insurance and Financial Services Inc.’s Financial Strength Rating at AA (low). The trends on all ratings are Stable.
DBRS Morningstar released a commentary discussing our outlook for the Canadian life insurance industry in 2023. Key highlights include the following: -- Despite continued market uncertainty, the outlook for Canadian life insurers is stable, reflecting their strong fundamentals, diversified businesses, and high levels of capital. High current ratings and previous upgrades make rating movements less likely, particularly on the upside. -- Premium growth and net sales of managed funds may be lim...
Manulife Financial Corporation's core earnings declined 14% to $1.3 billion in Q3 2022 versus a year ago, mostly reflecting a provision for Hurricane Ian's estimated reinsurance losses of $256 million and the unfavourable impact of markets.
On March 2, 2022, DBRS Limited (DBRS Morningstar) confirmed all ratings on iA Financial Corporation Inc. and its related entities, including iA’s Issuer Rating at “A” and Industrial Alliance Insurance and Financial Services Inc.’s Financial Strength Rating at AA (low). The trends on all ratings are Stable.
DBRS Limited (DBRS Morningstar) notes that on March 10, 2021, the Saskatchewan Court of Appeal (the Court) issued rulings in favour of The Manufacturers Life Insurance Company and Industrial Alliance Insurance and Financial Services Inc. and BMO Life Assurance Company (collectively, the Respondents) in the Mosten Investment LP, Ituna Investment LP, and Atwater Investment LP (collectively, the Applicants) cases regarding the right of the Applicants to deposit unlimited amounts in certain universa...
Manulife Financial Corporation's core earnings in Q4 2020 were flat YOY at $1.5 billion with offsetting impacts from the absence of core investment gains, lower investment income in the Corporate & Other segment, favourable in-force business growth for Asia & U.S., and higher average assets under management and administration from Global Wealth and Asset Management. F2020 core earnings totalled $5.5 billion, a decrease of 9% YOY.
Please refer to PDF document for more detail about our research: DBRS Morningstar Places Ratings of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc. Under Review with Positive Implications
On September 23, 2020, DBRS Limited (DBRS Morningstar) upgraded the Issuer Rating and Medium-Term Notes rating of Manulife Financial Corporation (Manulife or the Company) to A (high) from “A,” its Unsecured Subordinated Debentures rating to “A” from A (low), and its Non-Cumulative Preferred Shares rating to Pfd-2 (high) from Pfd-2. In addition, DBRS Morningstar upgraded the Issuer Rating and Financial Strength Rating of The Manufacturers Life Insurance Company (MLI) to AA from AA (low), its Unse...
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