Canadas financial services regulator, the Office of the Superintendent of Financial Institutions (OSFI), is monitoring Solvency II and other risk-based capital regime changes to consider what best fits the Canadian regulatory framework
US insurers are suffering because while the industry is aware of the regulatory burden it faces, uncertainty over the rules both domestically and internationally means it is difficult for providers to plan for growth and structure their offerings, according to research conducted by Life Insurance International
The controversy sparked by the Canadian governments decision in its March 2012 budget regarding Old Age Security (OAS) has put the countrys pensions system firmly in the spotlight. In the budget, announced on 29 March 2012, the federal government said the entitlement age for OAS will gradually rise from 65 to 67 starting from 2013.
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Social media such as Facebook provides a huge opportunity for US life insurers to communicate interactively with their customers However, lingering concerns about reputational risk and regulatory compliance have prompted most life insurers to adopt a cautious approach
Not a company which regularly hits the headlines, Pan-American Life Insurance Group (PALIG) has over the past 99 years carved itself an enviable niche in the Hispanic market sectors in the US and, more recently, in Latin America
Canadian life insurers weathered the global financial crisis thanks to a cautious investment stance and the strength of the Canadian economy The only dark shadow for Canadian life insurers has been their US operations, where variable annuities have done considerable damage