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AM Best reports robust 2024 performance for Canada’s L/A insurance sector
ReinsuranceNe.ws· 2025-11-03 08:00
Core Insights - Canada's life and annuity insurers reported strong results in 2024, driven by record growth in new annualised premiums and increased revenue from assets under management and fee-based income [1][3] Industry Performance - The Canadian life and annuity market outlook remains stable, supported by consistent earnings, sound underwriting performance, and prudent capital management [3] - New annualised premiums reached a record CAD 2.4 billion in 2024, representing an 8% increase from the previous year [6] - Group life insurance generated over CAD 33 billion in revenue, while individual life insurance contributed slightly more than CAD 29 billion, both with a pre-tax return on revenue of approximately 7% [7] Key Players - Leading insurers such as The Canada Life Assurance Company, Manulife Financial Corporation, Sun Life Assurance Company of Canada, and iA Financial Group are central to the sector's growth [5] - These companies have focused on technology investments, data analytics, and customer-focused distribution strategies to drive positive momentum [5] Challenges and Opportunities - Ongoing challenges include economic uncertainty and potential interest rate cuts by the Bank of Canada, alongside a persistent coverage gap in the life insurance market [4] - Economic uncertainty has prompted individuals to purchase life insurance for retirement and wealth planning, particularly in the affluent market [7] Annuity Segment - The annuity segment also performed well, with group annuity products generating CAD 6.1 billion in insurance revenue and individual annuities accounting for CAD 4.7 billion, achieving returns on revenue of 13% and 15% respectively [8]
INTERCORP FINANCIAL SERVICES, INC. TO HOST THIRD QUARTER 2025 EARNINGS CONFERENCE CALL & VIDEO WEBCAST PRESENTATION
Prnewswire· 2025-10-16 20:15
Core Points - Intercorp Financial Services Inc. (IFS) will host its Third Quarter 2025 earnings conference call and video webcast presentation on November 07, 2025, at 9:00 a.m. E.T. / 9:00 a.m. Lima Time [1][2] - The company will release its Third Quarter 2025 results on November 06, 2025, after market close [2] - A Quiet Period will commence on October 20, 2025, during which IFS will not disclose any financial information or comment on its financial results or operations [3] Company Overview - Intercorp Financial Services Inc. is incorporated under the laws of Panama and has securities listed on the Lima Stock Exchange and the New York Stock Exchange [4] - IFS is a leading provider of financial services in Peru, with main subsidiaries including Interbank, Interseguro, and Inteligo [4] - Interbank offers full-service banking to retail and commercial customers, while Interseguro provides various insurance products, and Inteligo focuses on wealth management and brokerage services [4]
INTERCORP FINANCIAL SERVICES, INC. TO HOST SECOND QUARTER 2025 EARNINGS CONFERENCE CALL & VIDEO WEBCAST PRESENTATION
Prnewswire· 2025-07-15 20:15
Core Viewpoint - Intercorp Financial Services Inc. (IFS) is set to host its Second Quarter 2025 earnings conference call on August 12, 2025, following the release of its financial results on August 11, 2025 [1][2]. Group 1: Earnings Conference Call Details - The conference call will feature key executives including Mr. Luis Felipe Castellanos (CEO), Ms. Michela Casassa (CFO), and other CEOs from its subsidiaries [2]. - The call can be accessed via specific phone numbers for both U.S. and international participants, with a dedicated conference ID [2]. - A live video webcast will be available, and a replay will be accessible shortly after the call concludes [2]. Group 2: Corporate Disclosure Policy - IFS will enter a Quiet Period starting July 20, 2025, which will last until the financial results are published, during which no financial information will be disclosed [3]. Group 3: Company Overview - Intercorp Financial Services Inc. is incorporated in Panama and listed on both the Lima Stock Exchange and the New York Stock Exchange [4]. - The company is a leading provider of financial services in Peru, with main subsidiaries including Interbank, Interseguro, and Inteligo [4]. - Interbank offers general banking services, Interseguro provides various insurance products, and Inteligo focuses on wealth management and brokerage services [4].
IFS announces filing of 2024 Annual Report on Form 20-F
Prnewswire· 2025-04-25 20:38
Core Viewpoint - Intercorp Financial Services Inc. has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2024, fulfilling its reporting obligations with the SEC and NYSE [1]. Financial Reporting - The 2024 Annual Report includes audited consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and an auditor's opinion on the company's internal control over financial reporting [2]. Accessibility of the Report - The 2024 Annual Report can be accessed on the SEC's website and IFS' website under the "Investor Relations" section. Shareholders can request a hard copy of the report free of charge [3]. Company Overview - Intercorp Financial Services Inc. is incorporated in Panama and has securities listed on both the Lima Stock Exchange and the New York Stock Exchange. It is a leading provider of financial services in Peru through its subsidiaries, including Banco Internacional del Perú (Interbank), Interseguro, Inteligo Group, and Izipay [5]. - Interbank offers general banking services to retail and commercial customers, while Interseguro provides various insurance products. Inteligo focuses on wealth management and brokerage services, and Izipay specializes in payment processing [5].