Core Insights - Pet insurance can alleviate financial burdens from unexpected veterinary bills, and discounts can make these plans more affordable [1][21] - The analysis of 30 pet insurance plans identified the best discount opportunities available from various insurers [1][21] Group 1: MetLife Pet Insurance - MetLife is rated the highest for pet insurance discounts, offering a multi-pet discount of up to 5% and the ability to combine cats and dogs under one plan with shared deductibles [3][4] - Additional discounts include military, online purchase, first responders, healthcare workers, and affinity group discounts, along with a disappearing deductible that reduces the deductible by $50 for each claim-free year [4][8] - Average costs for coverage are $81.05/month for $5,000 and $128.59/month for $10,000, both with a $500 deductible and 90% reimbursement [8] Group 2: Lemonade Pet Insurance - Lemonade offers a multi-pet discount of up to 10% and a discount for paying the policy premium in full, with average rates being the second-lowest in the analysis [9][11] - Discounts are also available for bundling with other Lemonade insurance policies, such as auto or home insurance [9][11] - Average costs for coverage are $63.96/month for $5,000 and $72.81/month for $15,000, both with a $500 deductible and 90% reimbursement [18] Group 3: Liberty Mutual Pet Insurance - Liberty Mutual provides a multi-pet discount of up to 10% for three or more pets and allows stacking of military and multipolicy discounts [11][13] - The average cost for $5,000 annual coverage is $56.96/month, making it the lowest among the evaluated insurers [13][15] - Discounts are available for annual payments and bundling with other insurance types [13][15] Group 4: Chewy Pet Insurance - Chewy's Lemonade plan offers discounts of up to 10% for multiple pets and a 10% discount for bundling with other Lemonade insurance policies [15][19] - Average costs for $5,000 annual coverage are $63.96/month, with a $500 deductible and 90% reimbursement [18] - Chewy's Trupanion plan received lower ratings due to fewer discount options [15] Group 5: USAA Pet Insurance - USAA offers exclusive discounts for military members, including a 10% discount for service dog owners and a multi-pet discount of up to 10% [20][24] - Average costs for $5,000 annual coverage are $67.05/month, with a $500 deductible and 90% reimbursement [24] - USAA's plans are available only to military members, veterans, and their immediate family [20] Group 6: General Insights on Discounts - Discounts for pet insurance vary widely among insurers, with common types including multi-pet, bundling, and military discounts [21][26] - Many insurers allow stacking of discounts, which can significantly reduce overall premiums [21][26] - The analysis indicates that over one-third of pet owners have multiple pets, making multi-pet discounts a valuable consideration [22][26]

Core Insights - Clairvest Group Inc. reported a book value of CAD 1,255 million or CAD 91.66 per share as of December 31, 2025, reflecting a 9% increase from CAD 1,154 million or CAD 83.92 per share as of September 30, 2025 [2][8] - The company recorded a net income of CAD 105.1 million, or CAD 7.65 per share, for the quarter ended December 31, 2025, primarily driven by two significant investment realizations [2][8] - For the nine months ended December 31, 2025, net income was CAD 49.7 million, or CAD 3.74 per share, which included a CAD 128 million write-down of Head Digital Works [6][8] Financial Performance - Clairvest's net investment gain for the quarter was CAD 119.5 million, compared to CAD 22.3 million in the same quarter of the previous year [11] - Total expenses for the quarter, excluding income taxes, were CAD 9.4 million, up from CAD 6.2 million year-over-year [11] - The company had total assets of CAD 1,406.4 million and total liabilities of CAD 151.2 million as of December 31, 2025 [11] Investment Activities - Clairvest and Clairvest Equity Partners VI (CEP VI) sold their interest in F12.net for proceeds of CAD 164 million, achieving a 4.6x multiple on invested capital [3][8] - The company also agreed to sell its interest in Acera Insurance for CAD 325 million in cash and CAD 81.5 million in a promissory note, generating a 3.0x multiple on invested capital [4][8] - Clairvest and Clairvest Equity Partners VII (CEP VII) entered into an agreement to acquire Northfield Park for USD 546 million, with Clairvest expected to invest approximately 25% of the equity [5][8] Shareholder Actions - During the quarter, Clairvest repurchased and cancelled 60,500 common shares at an average price of CAD 71 per share, costing a total of CAD 4.3 million, which added CAD 0.09 per share to the book value [2][8] Cash Position - As of December 31, 2025, Clairvest had CAD 217 million in cash, cash equivalents, and temporary investments, with an additional CAD 119 million held by acquisition entities, totaling CAD 336 million available cash [7][8]

Core Viewpoint - Manulife Financial Corporation has announced a 10.2% increase in its quarterly common shareholders' dividend, raising it to $0.485 per share, effective March 19, 2026 [1]. Group 1: Dividend Announcement - The Board of Directors declared a dividend increase of 4.5 cents per share, resulting in a new dividend of $0.485 per share [1]. - The dividend is payable to shareholders of record as of February 25, 2026 [1]. - The company will purchase common shares on the open market for its Canadian and U.S. Dividend Reinvestment and Share Purchase Plans, with no applicable discounts on the purchase price [1]. Group 2: Company Overview - Manulife is a leading international financial services provider, operating under the name Manulife in Canada, Asia, and Europe, and as John Hancock in the United States [1]. - The company offers financial advice, insurance, and investment services, serving over 36 million customers globally [1]. - As of the end of 2024, Manulife had more than 37,000 employees and over 109,000 agents [1].

Core Insights - Manulife Financial Corporation reported record core earnings and insurance new business results for the year 2025, with a 10.2% increase in common share dividends [1][2] - The company announced a new Normal Course Issuer Bid program to repurchase up to 2.5% of outstanding common shares, expected to commence in late February 2026 [1][2] - The company achieved over 20% growth in new business CSM across all insurance segments, contributing to double-digit growth in CSM balance [1][3] Financial Performance - Core earnings for 2025 reached $7.5 billion, a 3% increase from 2024, with 4Q25 core earnings at $2.0 billion, up 5% year-over-year [3][4] - Net income attributed to shareholders for 2025 was $5.6 billion, a $0.2 billion increase compared to 2024, while 4Q25 net income was $1.5 billion, down $0.1 billion from 4Q24 [3][4] - The company reported a core EBITDA margin improvement of 260 basis points in Global WAM [1][2] Business Segments Performance - In Asia, net income attributed to shareholders increased by 22% to $2.1 billion, with core earnings up 18% [3][4] - Canada saw a net income decrease of 43% to $1.3 billion, while core earnings increased by 6% [3][4] - The U.S. segment reported a net income loss of $367 million, with core earnings down 22% [3][4] Strategic Initiatives - Manulife entered the Indian life insurance market through a joint venture with Mahindra, expanding its global footprint [1][2] - The company acquired 75% of Comvest Credit Partners, enhancing its private credit capabilities [2][3] - A new simplified lending suite was launched in Canada to streamline the lending experience for high-net-worth clients [2][3] Customer Engagement and Innovation - The company launched the Manulife Longevity Institute, investing $350 million through 2030 to promote healthier and financially secure lives [2][3] - Manulife deployed GenAI sales enablement solutions across multiple markets, enhancing client interactions and sales performance [2][3] - A strategic collaboration with Bupa International Limited was established to enhance healthcare access for customers in Hong Kong [2][3] Market Trends and Challenges - Global WAM experienced net outflows of $14.3 billion in 2025, compared to net inflows of $13.3 billion in 2024, driven by lower net sales through third-party intermediaries [4][5] - The company faced challenges in the U.S. segment due to unfavorable life insurance claims experience and lower investment spreads [3][4] - Despite macroeconomic uncertainties, the company remains focused on disciplined execution and sustainable growth [1][2]

Core Viewpoint - Sun Life Financial Inc. has declared dividends for both common and preferred shares, maintaining the same dividend amount as the previous quarter, indicating stability in its financial performance [1]. Dividend Declaration - A dividend of $0.92 per common share has been declared, payable on March 31, 2026, to shareholders of record as of February 25, 2026, which is unchanged from the previous quarter [1]. - Dividends for Class A Non-Cumulative Preferred Shares include: - Series 3: $0.278125 per share - Series 4: $0.278125 per share - Series 5: $0.281250 per share - Series 8R: $0.264375 per share - Series 9QR: $0.223644 per share - Series 10R: $0.185438 per share - Series 11QR: $0.270493 per share All preferred share dividends are also payable on March 31, 2026, to shareholders of record as of February 25, 2026 [1]. Company Overview - Sun Life Financial Inc. is a leading international financial services organization that provides asset management, wealth, insurance, and health solutions to both individual and institutional clients [1]. - The company operates in various global markets, including Canada, the U.S., the U.K., Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda [1]. - As of December 31, 2025, Sun Life had total assets under management amounting to $1.60 trillion [1].

Core Viewpoint - Manulife Financial Corporation intends to launch a Normal Course Issuer Bid (NCIB) to purchase up to 42 million common shares, approximately 2.5% of its outstanding shares, as part of its capital management strategy to enhance shareholder value [1]. Group 1: NCIB Details - The NCIB is subject to approval from the Toronto Stock Exchange (TSX) and has already received approval from the Office of the Superintendent of Financial Institutions (Canada) [1]. - As of January 31, 2026, Manulife had 1,676,743,043 common shares issued and outstanding [1]. - The bid period will commence after TSX acceptance and will last for up to one year, with all shares acquired under the NCIB to be cancelled [1]. Group 2: Purchase Mechanisms - Purchases may occur through TSX, New York Stock Exchange, and alternative trading systems at market prices or other permitted prices [1]. - Manulife may also acquire shares outside Canada and the U.S. and enter into derivative-based programs to support its purchase activities, subject to regulatory approval [1]. - The total number of shares purchased under the NCIB and other arrangements will not exceed 42 million [1]. Group 3: Previous NCIB Performance - Manulife's previous NCIB (2025 NCIB) commenced on February 24, 2025, allowing for the purchase of up to 51.5 million common shares, which was completed by January 22, 2026, at an average purchase price of $44.28 per share [1].

Core Insights - Sun Life Financial Inc. reported strong financial results for Q4 and full year 2025, with underlying net income reaching $1,094 million, a 13% increase from Q4 2024, and a full year increase of 9% to $4,201 million [1][2][6] - The company achieved an underlying EPS of $1.96 for Q4 2025, up 17% year-over-year, and $7.45 for the full year, reflecting a 12% increase [1][2][6] - The underlying return on equity (ROE) was 19.1% for Q4 and 18.2% for the full year, indicating strong profitability [1][2][6] Financial Performance - Reported net income for Q4 2025 was $722 million, a significant increase of 205% from the previous year, driven by favorable market conditions and improved operational performance [2][6] - The company’s total assets under management (AUM) reached $1,605 billion, a 4% increase from the previous year [1][2][6] - The Life Insurance Capital Adequacy Test (LICAT) ratio stood at 157%, reflecting strong financial stability [1][2][6] Business Segment Highlights Asset Management - Underlying net income from Asset Management was $370 million, a 3% increase year-over-year, with gross flows decreasing by 7% to $59,861 million [2][3][6] - MFS experienced net inflows of US$5.5 billion in fixed income, while SLC Management faced net outflows of $19.5 billion [2][3][6] Canada - Canada segment reported underlying net income of $417 million, a 14% increase, driven by favorable insurance experience and growth in asset management [3][4][6] - Individual Protection sales decreased by 6%, while Group Health & Protection sales increased by 8% [3][4][6] U.S. - U.S. underlying net income rose to US$150 million, a 30% increase, supported by improved medical stop-loss morbidity experience [3][4][6] - Group sales in the U.S. increased by 45%, primarily due to strong performance in medical stop-loss and large case employee benefits [3][4][6] Asia - Asia segment's underlying net income increased by 18% to $207 million, driven by strong sales momentum and favorable mortality experience [3][4][6] - Individual sales in Asia rose by 49%, with significant contributions from India and Indonesia [3][4][6] Strategic Developments - Sun Life is restructuring its asset management operations to enhance growth across its insurance and wealth businesses, effective January 1, 2026 [3][4][6] - The company has launched initiatives to improve client experience, including enhanced digital capabilities and automated claims processes [3][4][6]

Core Viewpoint - Humana Inc. shares declined over 2% after issuing 2026 earnings guidance that fell short of analyst expectations, despite reporting better-than-expected fourth-quarter results [1][2] Financial Performance - For Q4 2025, Humana reported an adjusted net loss of $3.96 per share, slightly better than the expected loss of $4.00 per share. Revenue reached $32.52 billion, surpassing the consensus estimate of $32.04 billion [1] - For the full year 2025, adjusted earnings were $17.14 per share, an increase from $16.21 in 2024. The Insurance segment had a GAAP benefit ratio of 90.4%, slightly better than the guidance range of 90.1% to 90.5% [3] Earnings Guidance - Humana's 2026 adjusted earnings guidance is projected at a minimum of $9.00 per share, significantly below analyst expectations of $12.00. The company cited a decline primarily due to a Star Ratings headwind for Bonus Year 2026, net of mitigation efforts [2] Membership Growth - Despite the lower earnings outlook, Humana anticipates approximately 25% growth in individual Medicare Advantage membership in 2026, driven by new enrollments and improved retention [4] - The company also reported a 25% increase in Senior Primary Care patients within its CenterWell platform during 2025 [4]

Core Insights - The 2026 Market Trends report by Brown & Brown indicates a shift in rate conditions favoring buyers who are well-prepared for the renewal process and have a positive claims history [1][2] - The report is the first since the acquisition of Risk Strategies, combining insights from both organizations to provide a comprehensive view of the insurance market [2][3] Group 1: Commercial Insurance - Increased competition among carriers is creating opportunities for businesses with strong risk management practices [3] - Large-scale loss events, such as wildfires and cyber incidents, continue to pose challenges [3] - Industries like transportation and hospitality, particularly in risk-prone areas, face unfavorable market dynamics in securing effective coverage [3] Group 2: Employee Benefits - There is a focus on controlling rising costs while maintaining benefit quality, leading to increased use of digital health tools [4] - Companies are balancing cost management with the need to attract and retain talented employees [4] Group 3: Personal Insurance - Climate volatility and regulatory changes necessitate stronger preparation and risk management [5] - While capacity is expanding in some areas, regions exposed to catastrophes face tighter requirements and sustained pricing pressure [5] Group 4: Overall Market Perspective - The Market Trends report provides valuable insights for businesses and employers navigating the complexities of today's insurance markets [6] - Brown & Brown leverages its extensive experience and global reach to offer enhanced knowledge and solutions [6]

Core Viewpoint - CNO Financial Group has declared a quarterly cash dividend of $0.17 per share and announced the date for its virtual annual meeting, alongside the retirement of a long-serving board member [1]. Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.17 per share on common shares, payable on March 24, 2026, to shareholders of record as of March 10, 2026 [1]. Annual Meeting Details - The annual meeting of shareholders will be held virtually on May 12, 2026, at 8:00 a.m. ET, with participation available for holders of record as of March 16, 2026 [1]. Board Member Retirement - Nina Henderson will retire from the Board of Directors at the end of her current term, which concludes with the annual meeting. She has served on the Board since 2012 and has been a key figure in various committees [1]. Company Overview - CNO Financial Group, Inc. provides life and health insurance, annuities, and financial services, managing 3.2 million policies and holding total assets of $38.8 billion [1].