Life insurers in Canada delivered a positive 9M18 result, with solid growth in net income and an annualized ROE of 11.0%, though the underlying details were less constructive. New premium growth at home continued to lag, while the underlying pace of global premium growth was obscured by reconfigurations of a few large reinsurance treaties. Investment income suffered due to large unrealized losses. Meanwhile, a benign period in terms of changes to actuarial liabilities yielded a favorable comparison on total expenses, in all pushing up net income by 12.5% yoy. Furthermore, the industry's balance sheet remained strong under the new capital regime effective as of January 1, 2018.