Fitch Releases Special Report on Canadian Lifecos Year-End 2015 Results

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings today released a special report summarizing IFRS results for Canadian life insurance companies (lifecos).

During 2015, operating income grew by 15% while reported net income declined by 9% for the three Canadian life insurance companies (lifecos) in Fitch's rating universe: Great-West Lifeco Inc. (GWO), Sun Life Financial, Inc. (SLF) and Manulife Financial Corporation (MFC). Operating subsidiary capitalization remains strong for the three major Canadian lifecos on both an absolute and risk-adjusted basis and at the same time financial leverage has fallen to a five year low. Fitch views the Canadian lifecos' exposure to the energy sector as manageable but an area of concern, particularly if oil prices remain at a depressed level for an extended period.

The full report 'Canadian Lifecos Dashboard' dated Feb. 16, 2016, is available at 'www.fitchratings.com' under 'Insurance' and 'Special Reports'.

Additional information is available at 'www.fitchratings.com'.

Canadian Lifecos Dashboard

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=877886

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160216006765/en/

Fitch Ratings
Tana M. Higman, +1-312-368-3122
Director
Fitch Ratings, Inc.
70 West Madison St.
Chicago, IL 60602
or
Dafina M. Dunmore, CFA, +1-312-368-3136
Director
or
Media Relations, New York
Hannah James, +1-646 582 4947
[email protected]

Source: Fitch Ratings

You May Also Be Interested In

• Correction: Notice of the public offering of Hepsor AS bonds
• Share buybacks in Ericsson during the period August 17 - August 21, 2026
• Corinex Launches Grid Intelligence Node to Reveal the True State of the Low-Voltage Grid