The Asciano board has unanimously recommended the Qube Consortium Proposal – which includes the The Canada Pension Plan Investment Board (CPPIB), Global Infrastructure Partners and CIC Capital Corporation – to its shareholders after Brookfield Infrastructure failed to submit a matching or superior proposal. It was announced at the end of January that the Qube proposal was in competition with […]
Investor sentiment has dropped to its lowest point since the financial crisis, according to a new report by Manulife. Its Investor Sentiment Index reached 16, just five points higher than the 11 points registered during the financial crisis and significantly lower than the all-time high of 34 reached in 2006. The index also found that 26% of […]
Manulife Financial saw a 62% drop in fourth-quarter profit, largely from losses in its oil and gas investments, according to a report published Thursday. The Toronto-based company reported net income of $246 million or 11 cents a share for the three-month period ended Dec. 31, 2015. This compares to $640 million for the corresponding periods in 2014. Read: Manulife […]
The Canadian Life and Health Insurance Association (CLHIA) has called for a one-year delay of the ORPP. In its 2016 Ontario Budget Submission, written to Ontario Minister of Finance Charles Sousa, it said the implementation of the plan should be deferred by one year to address the significant uncertainties that remain with respect to plan design, administration and […]
The U.S. Department of Labor has filed a lawsuit against the International Association of Machinists (IAM) National Pension Fund and its board of trustees, citing multiple violations of the Employee Retirement Income Security Act. The lawsuit, which was filed at the end of January, alleges that the IAM National Pension Fund trustees breached their fiduciary […]
2015 saw assets rise to $282.6 billion
The CPP fund ended 2015 with net assets of $282.6 billion, compared to $272.9 billion at the end of the previous quarter, according to the latest results from the Canada Pension Plan Investment Board (CPPIB). The $9.7-billion increase in assets for the quarter consisted of $12.3 billion in net investment income after all CPPIB costs, less $2.6 billion […]
Manulife Financial Corporation has reached an agreement in Canada with The Vitality Group (Vitality) to introduce life insurance that rewards people for healthy living. The partnership will be first launched within Manulife’s term insurance solutions before it is expended to other product lines over time. It includes financial protection, opportunities to save on insurance premiums, and allow users to earn valuable […]
The five most common employee benefits offered by Canadian employers are health and dental insurance, group life insurance, training expenses, vehicle allowances, and gifts and awards, according to a survey by the Canadian Payroll Association (CPA). Its Employment and Retirement Benefits Survey, which polled nearly 4,000 payroll practioners across Canada, rounded out the top 10 employee […]
Aon Hewitt has acquired Modern Survey, an employee survey and talent analytics solutions provider. According to a statement from Aon Hewitt, the transaction strengthens its suite of workforce analytics solutions, including business and human capital analytics, employee engagement, onboarding and exit surveys and 360-degree feedback. Read: Employee engagement difficult to measure: survey “It is increasingly crucial for our […]