Manulife vs Sun Life

[OrangeJuice]

The failure of US and other countries' financial instituations causes the economic recession worldwide.

Here in Canada, I am concerned about the life investment funds we invested in the insurance companies (e.g., the seggegrated fund, life insurance funds).

In November, Manulife Financial Corp (MFC) said that it will borrow C$3 billion from 6 large Canadian banks to provide additional regulartory captial position. The steep declines in stock markets and losses on fixed-income securities have cut Manulife's quarterly profit in half.

Manulife's key competitor Sun Life is not doing much better than Manulife either. Sun Life sold off 37% of its stake in CI Financial Income Fund (the third-biggest mutual fund company) to Bank of Nova Scotia for $2.3B.

Manulife borrowed money and Sun Life sold its asset. This is telling me that they need CASH to run their business.

I told my financial advisor that Manulife is able to borrow money in today's economic crisis. It sounds that Manulife is in better shape that Sun Life. My financial advisor answered me that "Only time can tell".

I can tell you that both Sun Life and Manulife will ask their insurance/financial agents to work harder to sell more of their products to you. They will scare you that you and your families are not covered if something happens. They just want to get your insurance money. Watch out!

To me, if you want to get insurance protection, just buy 10 or 20 year term insurance. Don't invest your money in a single institution. If one of them goes down or go bankrupt, all the money you saved will be gone. There is no such thing called "guaranteed investment". If your agent tells you so, you better get away from this agent since he or she is telling you a lie. A big lie!

Don't you learn from the lesson of Lehman Brother (雷曼兄弟). Those who invested in a single instituation is going to get more risk of losing your life-time long savings.

Be careful! Don't trust any insurance agents who said that they are just helping you. Remember that their liviing is to sell their companies' products to you so that they can make money.


小心! 小心!

 

[katy]

if you have full knowledge about financial services in canada, Ibeliveyou will not do

The failure of US and other countries' financial instituations causes the economic recession worldwide.

Here in Canada, I am concerned about the life investment funds we invested in the insurance companies (e.g., the seggegrated fund, life insurance funds).

In November, Manulife Financial Corp (MFC) said that it will borrow C$3 billion from 6 large Canadian banks to provide additional regulartory captial position. The steep declines in stock markets and losses on fixed-income securities have cut Manulife's quarterly profit in half.

Manulife's key competitor Sun Life is not doing much better than Manulife either. Sun Life sold off 37% of its stake in CI Financial Income Fund (the third-biggest mutual fund company) to Bank of Nova Scotia for $2.3B.

Manulife borrowed money and Sun Life sold its asset. This is telling me that they need CASH to run their business.

I told my accountant that Manulife is able to borrow money in today's economic crisis. It sounds that Manulife is in better shape that Sun Life. My accountant answered me that "Only time can tell".

I can tell you that both Sun Life and Manulife will ask their insurance/finacnial agents to work harder to sell more of their products to you. They will scare you that you and your families are not covered if something happens. They just want to get your insurance money. Watch out!

To me, if you want to get protection, just buy 10 or 20 year term insurance. Don't invest your money in a single institutaion. If one of them goes down or go bankrupt, all the money you saved will be gone. There is no such thing called "guaranteed investment". If your agent tells you so, you better get away from this agent since he or she is telling you a lie. A big lie!

Don't you learn from the lesson of Lehman Brother (雷曼兄弟). Those who invested in a single instituation is going to get more risk of losing your life-time long savings.

Be careful! Don't trust any insurance agents who said that they are just helping me. Remember that their liviing is to sell their companies' products to you so that they can make money.


小心! 小心!

if you have knowledge about canada finanical services you will not say this , in this world everybody service for everyone , not because one of bad apple, you say all apple was bad.

 

[katy]

this is not right to compare two company and misguidence the public .
only indicate you do not have much knowledge about canada financial services .

 

[OrangeJuice]

It seems that you don't have good command of English to understand the message here.

Besides, I think you must be one of the insurance agents! Am I correct?

 

[嘟嘟狼]

Haha, bu yao chao le. I'll try to be objective here.

i dont think there's anything wrong at all here concerning about any canadian financial institution's profitability for year 2008. we all went through a 30-50% drop on TSX in the past few months. Financial industry and Energy sector are the two key elements in Canadian economy. They both got hit heavily in the market downturn. BMO, TD, SLF, MFC, I don’t think any of these companies are having a great time this year. Obviously, neither do their investors or clients.

However, credit risk / bankruptcy can happen to any company anywhere. It is out of the investors’ control. Pick a solid company, then invest your money will lower your risk, will not ELIMINATE the risk. For insurance industry, I think there are only 8,10 big companies across the country. SLF and MFC are the two biggest. We would all agree that other than the personal insurance/investment business, they probably make loads of money out of the group coverage as well. (government, big corp like IBM, Nortel). Spread out your money into different investment viechles. Don’t bet on any single company or single industry. There’s still some risk existing in Tbill issued by the government.

As for the insurance/investment advisor, I know friends love their advisors to death or hate them to death. If you don’t like him and find him not to be a great fit for your family, simply change it. That is your own fault if you don’t enjoy the relationship and still do business with him. You have 100% control over your choice.

 

[ccc]

怎么都不讲汉语呢？看有关诸如此类的深奥经济问题，读自己的语言，本人才能略懂一二。

 

[嘟嘟狼]

上班大不了中文

 

[ccc]

上班时间，不能输入中文，可以理解。可不都是工作时间发的贴啊。

 

[katy]

怎么都不讲汉语呢？看有关诸如此类的深奥经济问题，读自己的语言，本人才能略懂一二。

Sun Life’s very strong capital position
Sun Life has a robust, diversified balance sheet and a very sophisticated approach to risk management. These two very important financial pillars support our company’s overallstrength during these challenging economic times.
One measure business analysts in Canada use to help determine the strength of a company is the Minimum Continuing Capital and Surplus Requirements (MCCSR).This is the capital the Office of the Superintendent of Financial Institutions (OSFI) requires us to have to provide further protection for our clients. Sun Life Assurance Company of Canada holds capital exceeding regulatory minimums.
What makes us a strong, well-capitalized company?
To ensure we’re positioned to deliver on our long-term obligations to our clients, we have:
Best estimate value of policyholder benefits: We hold assets equal to our best estimate of the cost of our obligations based on claims experience, expenses, investment returns, taxes, policy lapses, etc. In most scenarios, that pays for the policyholder’s claim when it comes due.
Provisions for adverse deviations: We hold additional assets to cover situations different from expected factors; for example, if interest rates aren’t as high, if the claims experience is higher, or if equity markets perform more poorly than expected.
Capital: We hold capital in excess of amounts required to comply with OSFI requirements based on our reserves and investment assets.
Collectively, the best estimate value of policyholder benefits and the provisions for adverse deviations constitute our reserves.
Focusing on our clients
Our clients are looking for strong capitalization. They want protection and assurances that Sun Life is going to be there to support the policies they’ve purchased. These important building blocks have cemented our solid financial foundation:
capitalin excess of the regulatory requirements
additional capital from the CI Financial transaction
prudent risk management practices
a strong balance sheet.
Communicating the strength of stability of Sun Life to our clients is critical, and who is better able to complete that task successfully than you? When you clearly and factually explain to clients why Sun Life is a safe place to invest their money and buy insurance, you help investors and policyholders gain confidence in the financial products they hold with us. By using the PDF

 

[OrangeJuice]

永明金融集團 (Sun Life Financial Inc.) (TSX/NYSE: SLF) 宣布，該公司已經完成了先前所宣布的向 Scotiabank 出售其37%的 CI Financial Income Fund 股權。23億加元的收購金額中有15.5億是用現金支付的。其餘金額則是用 Scotiabank 的普通股和優先股綜合支付的。

我想问你一个问题。

在这样的经济危机中,谁这样愚蠢的卖掉他们37%的CI 股權? 唯一的答案是永明需要 现金!

哀! 一個需要借錢, 一個需要賣資產。