Preview of Life Insurance Cos Q4 2008 Earnings

RBC Capital Markets, 14 January 2009Q4/08 results to be weak in our viewWe expect the four lifecos to report YoY declines in earnings per share, driven by difficult conditions in equity and credit markets.� Our EPS estimates for Manulife are in line with consensus, while they are well below for the other three companies.� Directionally, the short-term pressure on earnings is greatest on Manulife,