Empire Life Facts and Financials
Our customers
We serve more than:
- 458,000 individual customers
- 6,900 group employer customers, with 133,000 group life and health plan members
- 925 group retirement plans
Our people
We have more than:
- 800 employees across Canada
- 550 employees at our corporate head office in Kingston, Ontario
- 26,000 partnerships with professional financial advisors, brokers, managing general agents, group producers and mutual fund dealers
Our financials
Here are our financials as of December 31, 2012:
| Total assets including general and segregated funds: | $10.8 billion |
| Net premium revenues from external customers: | $814 million |
| Total investment income: | $237 million |
| Total revenue: | $1.3 billion |
| Policy dividends: | $20 million |
| Net benefits and claims: | $541 million |
Strength of our capital base (MCCSR)
203% as at December 31, 2012
What is an MCCSR ratio?
A Minimum Continuing Capital and Surplus Requirements (MCCSR) ratio of 100% means that a company has adequate capital to meet obligations to its policyholders. The Office of the Superintendent of Financial Institutions (OSFI) requires life insurance companies to maintain an MCCSR ratio of at least 120% and expects them to have a target ratio of at least 150%.
Assuris
We are a member of Assuris, the organization that protects Canadian insurance policyholders from loss of benefits due to the financial failure or insolvency of a member company.
You can find out more by reading the Assuris brochure.
Financial update
Our quarterly Financial Update gives you a financial snapshot and current overview of Empire Life.
Annual Report
Read our 2012 Annual Report for more detailed financial information about Empire Life.