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Insurers see profit gains despite tough year of COVID-19 fatalities
by Anita Balakrishnan, The Canadian Press
Posted Feb 11, 2021 1:54 pm EDT
Last Updated Feb 11, 2021 at 1:58 pm EDT
TORONTO Amid the grim backdrop of COVID-19 fatalities, Canadian insurers have also found some consumers have an increased interest in life and health insurance.
Sun Life chief executive Dean Connor said it was a “tough year” as the insurer paid out $200 million to the families of clients who succumbed to COVID-19. But Sun Life also said it saw lower benefits usage brought about by the pandemic as it extended grace periods for premium payments.