Canadian Life Companies Split Corp T.LFE

Decided today was time to take some profits

[mouserman]

Not just the general dumping in the markets early, but US insurers are bound to see some negative from the Hurricane in SE US.. Likely damage in the hundreds of billions of $, and many lives lost.
Anarchy and looting also a problem. Many trapped in their areas with no way to leave.

[kurtwalter]

Do you expect Hurricane Helene to impact Canadian life insurance companies?

[mouserman]

No i dont think there is too much casualty insurance  involved with the big 4 CAD lifecos in that part of  the US. But the minor holdings of US insurers for sure will be somewhat affected. Might be life insurance policies there tho.. but the death toll not in the thousands or anything.. saying maybe up to 600 at the most.. sad , sad event for many.

[flamingogold]

Congrats to you, you did well. Never a bad thing to take profits because sooner or later the market will take them away again.

[mouserman]

Sold the last of those today, only regret was not buying more back then.

[Stoiklaugh]

I think you still did pretty good... I am thankfull that you flagged lifecos around a month or two ago... I am exiting some positions as well but increased on LBS for now....

[flamingogold]

I exitted even sooner but as they say no one ever lost money selling for a profit.  I still have core positions in DGS, BK, GDV and FFN/DFN prefs that I will hold through any selloffs.

[navgod]

Have sold some this week to add to my DF/DFN positions. Unless circumstances change all these positions will be retracted at the end of Nov. LFE remains my largest position. 

[mouserman]

I have been adding DF as well, just find it a better value than DFN...BUT remind me again how this retraction works. I know you have to submit a request ahead of the date, and then it takes a while. IN the meantime the shares can runup...if  very many have enough knowledge to know about that   retraction option. Is it  every 5 years?

[navgod]

Yes for DF,DFN,and FFN the extension occurs every five years. Every six years for LFE. The capital shares will receive the NAV as calculated on Nov.30th. Retraction must be submited by November 1 but your broker will have a deadline 2 or 3 business days prior. Payments under the retraction will be made by Dec.15th. For anyone cosidering submiting into this retraction make sure your broker

[amugsgame]

Am I correct in believing that an equal amount of the A"s + Prefs have to be submitted to take advantage of the retraction process?

[navgod]

You are correct for the ANNUAL retraction but this is the Recurring Special Retraction Right that occurs with a termination/extension event which treats capital and pref shares independently.

[mouserman]

Thanx for that clarification navgod... might take advantage of that  with DF if the discount is big enough. LFE discount is pretty small today , and lifeocs got beten up hard at the opne, i think profittaking was due.