Sun Life top actuary resigns after judge says he lied
Article Abstract:
Toronto, Canada-based Sun Life Assurance Co. of Canada Chief Actuary Robert Sharkey has quit his position after Justice Maurice Cullity of Ontario Court General Division ruled he gave fraudulent evidence as a witness for Sun Life in a 1995 court case involving mortgage repayments. Sharkey testified in a case brought by Toronto landlord Joel Vale against Sun Life that the mortgages in question were long term, backing long-term commitments on some of the firm's products. Vale first launched a suit against Sun Life for refusing to allow him to prepay mortgages on three Toronto properties. He launched a further suit after learning the firm did allow prepayments on mortgages.
Comment:
Chief Actuary Robert Sharkey quits his position after judge rules he gave fraudulent evidence as witness in a 1995 court case
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Judge nixes Sun Life request
Article Abstract:
Sun Life Assurance of Canada's petition to allow its chief actuary to air his side regarding allegations against him was denied by the judge presiding over the case. In mid-April 1998, Judge Cullity issued a written decision to Life Sun Life which stated that nothing significant has occurred to warrant a new trial involving Robert Sharkey. The company's chief actuary resigned his position after giving fraudulent evidence as a witness in a Ontario Court General Division case regarding mortgage prepayments.
Comment:
Its petition to allow its chief actuary to air his side regarding allegations against him was denied by the judge
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Sun Life eliminates chief actuary job
Article Abstract:
Sun Life Assurance Co. of Canada implements a financial-department restructuring that will result to the elimination of the chief actuary post in the company. Sun Life Assurance, which also plans to becomes a firm that issues stock, appointed 25-year company veteran Robert Wilson as the appointed actuary for the firm's Canadian operations. Wilson will function as a senior executive who will affix his signature on a report on the approved provisions made for financial statements and policy liabilities.
Comment:
Implements a financial-department restructuring that will result to the elimination of the chief actuary post in the company
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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