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Sun Life Financial Inc
Symbol SLF
Shares Issued 579,764,157
Close 2024-07-18 C$ 68.56
Market Cap C$ 39,748,630,604
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FP/CP say Intact, rivals hear auto thefts are down

2024-07-18 09:18 ET - In the News

See In the News (C-IFC) Intact Financial Corp

The Financial Post reports in its Thursday edition that an insurance fraud prevention group says auto thefts were down 17 per cent during the first six months of 2024, compared with the same period last year. A Canadian Press dispatch to the Post reports that Equite Association says the drop can be attributed to increased border patrol and police collaboration, government action, and public awareness. The Equite report comes after the federal government brought industry stakeholders together in February to discuss solutions to auto theft. Bryan Gast, vice-president of investigative services at Equite, says collective efforts have reduced theft and money flowing toward organized crime and have reversed the concerning trend of recent years. In Ontario, auto theft decreased by 14 per cent while Quebec saw a 36-per-cent decline. Meanwhile, the theft rate in Atlantic Canada went up by 11 per cent, and the rise is likely tied to better deterrent measures in Ontario and Quebec. The Insurance Bureau of Canada paid about $1.5-billion in claims in 2023, a record high. That year, vehicle thefts rose by 50 per cent in Quebec and almost as much in Ontario. Ottawa estimates 90,000 cars are stolen each year in Canada.

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