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
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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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.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 2001
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