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Empire Life reports second quarter 2018 results

All numbers expressed in millions of dollars, except per share amounts and as otherwise indicated. 

Q2 2018 highlights (compared to Q2 2017)

  • 71% increase in common shareholders’ net income of $57.3 compared to $33.4
  • Earnings per share (basic and diluted) of $58.14 compared to $33.91
  • Return on common shareholders’ equity1 (“ROE”) of 15.6% compared to 10.1%

Q2 2018 year to date highlights (compared to YTD 2017)

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Changes to Grandfathering rules for two life groups. New Non-Evidence and Overall Maximums for Life and Disability

We’ve just announced new Grandfathering rules. We will now grandfather groups with as few as two lives. We’ve also increased our Non-Evidence Maximums (NEM) for Life, Long-Term Disability (LTD), and Weekly Indemnity (WI) products, as well as Grandfathering and Overall Maximums for LTD. 

These changes will provide greater financial protection for our customers’ plans and make it easier for business owners with as few as two employees to make the switch to Empire Life. With these increases, our NEM’s are now one of the highest in the industry. 

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Empire Life launches seven new global funds, preferred pricing program and fee for service option

May 28, 2018 (Toronto, Ontario) – The Empire Life Insurance Company (“Empire Life”) (TSX: EML.PR.A) is introducing seven new global funds, a fee for service option and a preferred pricing program to provide clients with more global and lower cost investment options within their Guaranteed Investment Fund (GIF) product line of segregated funds.                                                                                                                                                                                           

 

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$7,500 Drug-Only Pooling Product - a new choice

Feb 2, 2018
We’ve just launched a new $7,500 Drug-Only Pooling product, available to both insured and ASO plans.

As high cost specialty drugs continue to enter the market, many carriers are raising their pooling charges or raising pooling thresholds—or both. For customers who want to take a different path, our drug-only pooling product may be the solution.

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