Voted Top Life & Health Insurer in Canada in 2019, 2018, and 2016 by the Insurance Business Awards
Ranked among Canada’s Top Employers by Forbes in 2020 and 2019
Our unique ownership structure is a competitive advantage. We are a subsidiary of E-L Financial Corporation Limited. Since 1956, the Jackman family has been involved with Empire Life, and has controlled E-L Financial since its incorporation in 1969.
We are strongly capitalized. The strength of our capital base (LICAT) was 136% as of December 31, 2020, well above the requirements set by the Office of the Superintendent of Financial Institutions Canada (OSFI) and Empire Life’s minimum internal targets.
What is LICAT?
The Life Insurance Capital Adequacy Test (LICAT) measures a company’s ability to meet obligations to its policyholders. OSFI requires life insurance companies to maintain a LICAT ratio of at least 90% and expects their internal targets to be at least 100%.