Merrill Lynch on Life Insurance Cos

The Globe and Mail, Roma Luciw, 24 April 2006Merrill Lynch & Co. Inc. kicked off coverage of the Canadian insurance industry with a mixed review Monday, handing two of the biggest players � Manulife Financial Corp. and Sun Life Financial Inc. � �neutral� ratings on the basis of their valuation.In a research note to clients, analyst Andr�-Philippe Hardy said that Toronto-based Manulife has an