What’s new: In brief (February 09, 2005)

Life and annuity carriers expect to see modest growth in 2005, along with continued merger & acquisition activity within their sector, according to a survey by U.S. life association LOMA’s “Resource” magazine. A poll of LOMA board members finds universal life and annuities could provide strong growth this year, but insurers expect to be hampered by regulatory and legislative issues, specifically related to compensation, disclosure and marketing. While 2005 may not bring deals on the scale of Manulife/John Hancock, m&c activity is nonetheless expected to continue.

The Office of the Superintendent of Financial Services (OSFI) has a new look to its website. While the site remains at www.osfi-bsif.gc.ca, its design is more in keeping with other Government of Canada websites. The Financial Services Commission of Ontario (FSCO) has also launched a new search engine feature on its website at www. fsco.gov.on.ca.

The Canadian Association of Mutual Insurance Companies (CAMIC) Mid-Term Meeting is set for April 1 at Toronto’s Sheraton Centre Hotel. The morning event is built around the theme “Mutuality, a philosophy in expansion” and includes speakers David Simpson of Facility Association, Brian Gray of Swiss Reinsurance Co. and Klaas Westera of Marshall & Swift/Boeckh. Addresses will also be given by CAMIC chair Wally Jervis, president Normand Lafraniere and board member Robert Forsythe. For details, call 613-789-6851 or email nlafreniere@camic.ca.