We serve more than:
- 341,440 individual customers
- 10,948 group employer customers with over 252,252 group life and health plan members
- 934 group retirement plans
We have more than:
- 867 employees across Canada
- 36,185 partnerships with professional financial advisors, brokers, managing general agents, group producers and mutual fund dealers
Here are our financials as of December 31, 2020:
|Common shareholders’ net income||$140 million|
|Total assets including general and segregated funds:||$18.7 billion|
|Net premium and fee income:||$1.1 billion|
|Total investment income:||$329.4 million|
|Policy dividends:||$35.2 million|
|Net benefits and claims:||$578 million|
Strength of our capital base (LICAT)
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%.
Empire Life is a member of Assuris. Assuris is the not for profit organization that protects Canadian policyholders if their life insurance company fails. Details about Assuris’ protection are available at www.assuris.ca or by calling the Assuris Information Centre at 1-866-878-1225.