The Globe and Mail reports in its Tuesday edition that Scotia Capital analyst Meny Grauman sees the Canadian life insurance industry as "an attractive tariff safe haven" ahead of its quarterly earnings season. The Globe's David Leeder writes in the Eye On Equities column that Mr. Grauman has lowered his recommendation for iA Financial to "sector perform" from "sector outperform." Mr. Grauman continues to target the shares at $143. Analysts on average target the shares at $137.75. Mr. Grauman says in a note: "iA Financial is the best-performing Canadian lifeco since Q3 reporting, and while we expect the company to boost its ROE target at its upcoming Investor Day on Feb. 27 we believe that the shares are already pricing in this improved outlook which leaves upside here more modest in our view, and is the key reason we downgrade the shares. ... We continue to view the lifeco's $1.1-billion in deployable capital as a key strength, but the outlook for M&A in the U.S. dealer services business is now highly uncertain again given the Canada/U.S. trade war that will likely hit the auto business particularly hard. Meanwhile, management has been clear that buyback activity should continue to slow given the run-up in the shares."