Empire Life Facts and Financials
We serve more than:
- 428,000 individual customers
- 7,500 group employer customers, with 160,000 group life and health plan members
- 795 group retirement plans
We have more than:
- 840 employees across Canada
- 560 employees at our corporate head office in Kingston, Ontario
- 28,500 partnerships with professional financial advisors, brokers, managing general agents, group producers and mutual fund dealers
Here are our financials as of December 31, 2013:
|Total assets including general and segregated funds:||$12 billion|
|Net premium revenues from external customers:||$822 million|
|Total investment income:||$240 million|
|Total revenue:||$906 million
|Policy dividends:||$22 million|
|Net benefits and claims:||$560 million|
Strength of our capital base (MCCSR)
267% as at December 31, 2013
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%.
Our quarterly Financial Update gives you a financial snapshot and current overview of Empire Life.
Interim Financial Statements
Read our 2013 Annual Report for more detailed financial information about Empire Life.