You can view 0 more answers this month. Sign up for a free trial for unlimited access.

Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Manulife Financial Corporation (MFC $46.57)
- $46.57 P/E (TTM): 15.48X Cap: $78.08B
- View MFC Profile
- View Questions on MFC
Intact Financial Corporation (IFC $247.89)
- $247.89 P/E (TTM): 13.77X Cap: $44.01B
- View IFC Profile
- View Questions on IFC
Sun Life Financial Inc. (SLF $62.57)
- $62.57 P/E (TTM): 14.15X Cap: $34.67B
- View SLF Profile
- View Questions on SLF

Q: Please confirm as I could be misremembering: stock market drifting lower is not good for insurance companies. Please provide some context if I am correct. Which insurance company would be less impacted ?

Asked by JR on March 20, 2026

5i Research Answer:

Insurance companies typically invest their "surplus" in bonds and stocks, typically with more fixed income exposure. Thus, when rates rise, insurance companies can see some gains from their bond income (as they re-invest at higher rates). But a declining stock market can offset this, depending on how much exposure a company has. But a declining stock market also impacts sentiment towards most stocks, and insurance is no exception here. Companies do not always disclose exposure. SLF and GWO tend to be, on average, more conservative than other Canadian names.

Let us help YOU reach your financial goals today!

Start your FREE trial today and enjoy all the benefits of a 5i Membership including:

Access to a team of experts ready to answer your investments question
Instant access to over 100,000 archived questions
A community of like-minded investors
Peace of mind knowing that 5i Research has only YOUR best interests in mind

First Name *

Last Name *

E-mail *

Password *

I have read and agree to the Terms of Use