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RESEARCH LIBRARY

Canada Economic Outlook

Canadian economic performance in 2017 is projected to be the strongest in six years, with GDP advancing 2.9%. Although growth in 2H17 has slowed compared to the stellar performance of the prior four quarters, it remains above the potential rate. Employment in particular has increased solidly this year, and wage growth is finally showing signs of rebounding. With the economy at or near full capacity, inflation is expected to accelerate next year.

Year: 2017 | Type: Publication

sigma 6 2017

sigma 6/2017: Life in-force management: improving consumer value and long-term profitability

Life insurers are facing many challenges, including low interest rates, a difficult pricing environment and the need to adapt to regulatory changes. More broadly, developments in demographics, medicine and technology will change mortality and morbidity rates in many parts of the world, having a fundamental impact on life insurance business.

Type: Article

sigma 6 2017

sigma 6/2017 - Life in-force management: improving customer experience and long-term profitability

For long-term sustainability, life insurers need to maintain a strong connection with their consumers. Increasingly, insurers are focusing on improving relations with existing policyholders by offering higher-value products, increasing persistency and improving claims management. This increased focus on existing rather than new business is about improving customers experience and enhancing long-run profitability. Profits on in-force life books can be improved by judicious asset management, optimal capital allocation and by reducing operating costs. Such actions can reduce the cost of providing cover and also lower prices for consumers.

Type: Video

Global Economic Outlook

In the US, the FOMC is expected to raise the fed funds rate by 25 basis points next week and three more times in 2018 by the same amount. The Senate and House will reconcile their tax reform bills, perhaps even before year-end. We have not changed our baseline forecasts because it has always been assumed that a modest tax reform bill would be passed. We expect a small positive impact on GDP growth in 2018 and 2019, of the order of magnitude of 0.1-0.2 percentage points each year. Our baseline forecast of 2.2% GDP growth in 2018 and 2019 reflects this, but there is some upside risk should the reform prove more powerful than expected. Given the persistently low yields on 10-year Treasuries, we have lowered our end-of-year forecasts, and we are currently expecting the 10-year Treasury yield to be 2.5% by end-2017 and 3.0% by end-2018.

Year: 2017 | Type: Publication

US Economic Outlook

The economy added 261,000 jobs in October as leisure and hospitality jobs recovered from the Harvey and Irma hurricanes. Despite the hurricanes, real Gross Domestic Product (GDP) rose 3% in 3Q17, led by a rise in inventories and vehicle sales after the hurricanes, plus higher net exports.

Year: 2017 | Type: Publication

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