Preview of Life Insurance Cos Q3 2008 Earnings

Scotia Capital, 21 October 2008Canadian Lifecos � It's Gonna be an Ugly quarter� Another brutal quarter � EPS will suffer. Markets were down 9% quarter over quarter (QoQ) in the United States, 19% in Canada, 13% in the United Kingdom, and 18% in Asia. Credit spreads widened considerably. Significant writedowns/impairment charges on LEH/AIG/Wamu bond holdings will take a big bite out of EPS. The