It’s summer break time for ILSTV News

It’s summer break time for ILSTV News

Our annual summer break is now upon us, and we will return on Sept, 11th. 

Until then, all of us at ILSTV wish all of our readers a safe and happy summer season!

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Sun Life Financial announces appointment of Helena Pagano

Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) is pleased to announce the appointment of Helena Pagano as Executive Vice-President, Chief Human Resources and Communications Officer, effective June 11, 2018.

Reporting to Dean Connor, President and Chief Executive Officer, Helena is responsible for leading Sun Life’s enterprise-wide human resources and communications strategies, programs and governance. It is a critically important role as we drive for a disproportionate share of top talent, wrapped in a diverse, inclusive and engaging culture.

Helena Pagano (CNW Group/Sun Life Financial Inc.)

“Since joining Sun Life, Helena has had a big impact, enhancing our approach to global wellness, data and analytics, and our employee agile program,” said Dean Connor, President and CEO, Sun Life Financial. “She demonstrates the leadership and forward-thinking that will continue to support our Client For Life strategy and purpose of helping Clients achieve financial security and live healthier lives.”

Helena brings deep global human resources expertise, with more than 20 years in financial services supporting retail and institutional businesses. Prior to joining Sun Life, she held several senior roles in financial services. She joins an Executive Team committed to creating a diverse and inclusive workforce, which includes strong female representation in leadership roles. Helena succeeds Carrie Blair who announced her retirement from Sun Life earlier this year.

Helena is a Board Member of the Artists’ Health Alliance and is a member of the United Way’s Major Individual Giving Cabinet.

About Sun Life Financial

Sun Life Financial is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life Financial has operations in a number of markets worldwide, including Canadathe United States, the United KingdomIrelandHong Kongthe PhilippinesJapanIndonesiaIndiaChinaAustraliaSingaporeVietnamMalaysia and Bermuda. As of March 31, 2018, Sun Life Financial had total assets under management of $979 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars

Media Relations Contact:
Irene Poon
Manager, Media & PR
Corporate Communications
T. 647-256-2596
irene.poon@sunlife.com

Investor Relations Contact:
Greg Dilworth
Vice-President
Investor Relations
T. 416-979-6230
investor.relations@sunlife.com

SOURCE Sun Life Financial Inc.

Industrial Alliance Insur. & Fin. Ser – New CEO, Same Great Investment

Excerpted article was written by Will Ashworth | The Motley Fool

Industrial Alliance Insur. & Fin. Ser (TSX:IAG), otherwise known in the financial services industry as iA Financial Group, is getting a new CEO after 18 years.

The Quebec-based insurance and wealth management company announced June 12 that Yvon Charest is retiring as CEO September 1 to be replaced by his COO Denis Richard.

If you own IAG stock, there’s nothing to be concerned about. If you don’t own it, here’s why you might want to.

A long-tenured management team

Yvon Charest has spent almost 40 years at iA Financial, 18 of them as CEO. His replacement, Richard, has been with the company since 1985, a relative newcomer with 33 years of service.

Management teams with lengthy tenures, especially in today’s results-now business environment, are pretty rare. So, the fact Richard is stepping into the top job suggests both the board and the outgoing Charest are very happy with the transition.

“During [Mr. Charest’s] tenure as CEO, the organization has grown and matured into a leading financial-services company in Canada with a reputation that is second to none,” Jocelyne Bourgon, chair of the board of directors, said in a statement.

No kidding.

When Charest took over, iA Financial had $13.1 billion in assets under management; today, it has $89.7 billion in AUM, and it administers another $79.9 billion for other institutions. Back then, it had net income of $75.0 million; today, it’s $515.5 million on an annual basis and growing. Lastly, its book value when Charest took over was $671.8 million; today, it’s $5.5 billion, a compound annual growth rate of 12.4%.

That last figure might not sound like much, but given the insurance industry is one of the most old-fashioned of businesses, it’s actually very strong.

In fact, Richard has a tough act to follow.

How it grows

The company uses a combination of organic initiatives along with acquisitions to push the ball up the hill.

In 2017, it paid $277 million to acquire HollisWealth, a leading Canadian full-service financial advisory firm, and then in February it acquired PPI Management Inc., an insurance network that serves 3,000 independent insurance advisors across Canada.

“With the acquisition of PPI, iA Financial Group becomes the leader in insurance brokerage distribution in Canada,” commented Denis Richard. “Combined with the Hollis Wealth network acquired last year, iA Financial Group is now positioned at the top of independent distribution for financial services in Canada.”

If you’re like me and can’t stand the banks hoarding market share, iA Financial is building a very competitive offering for independent-minded Canadians.

What’s ahead?

You won’t read a lot about iA Financial in the media, so you will have to do a little of your due diligence before investing.

However, Fool contributor Joey Frenette recently had a lot of good things to say about the company.

 IA’s track record really speaks for itself,” Frenette wrote May 3. “I believe it has the capacity to continue to outperform its peers over the next few years, and given the stock trades at a mere 9.7 times forward earnings, investors would be wise to pick up shares of what I think is a heavily discounted company that doesn’t get the respect it deserves from Canadian investors.”

I agree wholeheartedly with Frenette’s assessment.

In December 2016, just after the Hollis Wealth acquisition was announced, I’d recommended that investors buy iA Financial. Eighteen months later, nothing has changed at the company that would lead me to change my opinion of its stock.

There might be a new CEO, but it’s the same great investment.

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SSQ Insurance partners with BiogeniQ

SSQ Insurance is pleased to announce its partnership with BiogeniQ in a move to offer group insurance customers an innovative solution to treat depression. BiogeniQ is a company specializing in the field of pharmacogenomics that combines the science of genetics with pharmacology.

Treatment of depression often requires a patient to try several treatment strategies before the right drug or approach is clearly identified. Aware of this fact, SSQ Insurance will be offering the services of BiogeniQ to some of its insured members who are on disability as a result of depression. Insureds who agree to participate in the process will receive a genetic test kit from BiogeniQ to collect a small sample of saliva for analysis.

SSQ Insurance will not receive any results of the test conducted and analyzed by BiogeniQ. With the consent of the insured, BiogeniQ will send each test result directly to the attending physician, who will be able to use this additional information to help identify the appropriate treatment approach and forego the less effective ones. The purpose of the test is to reduce the risk of side effects and improve overall treatment effectiveness.

“This agreement with BiogeniQ reflects our commitment to providing our insured members with innovative solutions that promote health and well-being, and once again demonstrates SSQ Insurance’s leadership in this area. Thanks to our agreement with BiogeniQ, SSQ Insurance customers will be able to consider a treatment that is better suited to their situation and possibly a faster return to a fully active life. By the same token, this practice could ultimately help control the cost of group insurance plans for policyholders,” said Éric Trudel, Senior Vice-President of Strategy and Product Management at SSQ Insurance.

“Studies show that personalized treatment based on pharmacogenomic analyses serves to shorten the duration of disability due to depression and increase the chances of remission. We are enthusiastic about our partnership with SSQ Insurance to make this avant-garde service accessible and make a difference in the lives of many insureds,” said BiogeniQ founder Étienne Crevier.

BiogeniQ services will be offered by SSQ Insurance to some of its insured members and possibly extend the offer to the rest of its clientele thereafter. SSQ Insurance will also evaluate the possible use of pharmacogenomics in the treatment of other diseases.

About SSQ Insurance
Founded in 1944, SSQ Insurance is a mutualist company that puts community at the heart of insurance. With assets under management of $12 billion, SSQ Insurance is one of the largest companies in the industry. Working for a community of over three million customers, SSQ Insurance employs 2,000 people. Leader in group insurance, the company also sets itself apart through its expertise in individual life and health insurance, general insurance and the investment sector. For more information, please visit ssq.ca.

About BiogeniQ
BiogeniQ helps people take control of their health by offering simple, appropriate and relevant recommendations based on their DNA. Through collaboration with healthcare professionals, genetic testing is delivered in a responsible and ethical manner. Since its foundation in 2013, BiogeniQ has won numerous awards in the area of health and new technologies, including the life sciences innovation award from the Association pour le développement de la recherche et de l’innovation du Québec (ADRIQ), as well as the award for most innovative young company in Quebec. Since 2018, BiogeniQ has been a division of Biron Groupe Santé. For more information, please go to biogeniq.ca.

 

SOURCE SSQ Insurance

https://ssq.ca/

Fairfax investing $648 million in Seaspan Corp to double investment in shipper

Fairfax Financial Holdings Ltd. is investing $648 million in Seaspan Corp. to bring its total stake in the shipping company to roughly $1.3 billion.

CEO Prem Watsa says in a statement the investment represents one of its largest in a public company and demonstrates its faith in the shipper’s growth prospects.

Hong Kong-based Seaspan leases and manages the huge container ships that form the backbone of the global shipping industry.

Seaspan says Fairfax subsidiaries will be making the investment through the exercise of warrants and that it will help its balance sheet.

Fairfax had made an initial investment of $324 million in Seaspan in February and entered into an agreement to double that investment in March.

Fairfax is a Toronto-based holding company involved in property and casualty insurance that also holds a diverse investment portfolio.

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