December 13, 2023—(Kingston ON) In honour of its 100th anniversary on January 11, 2023, Empire Life launched a grant program that encouraged employees to nominate and vote for charities across the country. The final 10 registered charities each received a $10,000 donation, for a total donation of $100,000, as part of the Empire Cares Grant Challenge.
Ontario will complete its biologic drug transition period on December 30, 2023. The province began migrating patients in March, 2023. Empire Life has sent letters directly to plan members and/or their dependants affected by this change to remind them of the need to discuss switching to a biosimilar with their doctor by December 30, 2023.
The federal government has updated its table of Federal employment insurance (EI) premium rates and maximums. Effective January 1, 2024, EI maximum insurable earnings will increase from $61,500 to $63,200. As a result, the maximum EI benefit will increase from $650 to $668 per week.
In 2022, the federal government announced plans to create the Canadian Dental Care Plan (CDCP) to make dental care affordable for more Canadians. The long-term goal of this plan is to provide dental care coverage for uninsured Canadians with an annual household net income of less than $90,000. There will be no co-pays for those with an annual family income under $70,000. The government estimates that, once fully rolled out, this will support 9 million uninsured Canadians.
Canadians with access to dental coverage will not be eligible for the CDCP.
(Kingston, ON – November 21, 2023) – Empire Life’s annual United Way campaign exceeded its goal for the seventh consecutive year, raising $287,901.41 from employee and retiree donations and events to benefit United Way programs and agencies across Canada. This is the most raised in a single campaign since the company began supporting the United Way 54 years ago.
November 16, 2023 (Kingston, ON)—The Empire Life Insurance Company (Empire Life) has signed an agreement to sell its corporate head office property in Kingston to local developer Jay Patry Enterprises LLC.
The sale closes in mid-2024, and after the sale, Empire Life will continue to use the premises as its corporate head office for a period of time while it looks for other office space to lease in Kingston that is more suited to its needs.
Empire Life’s travel emergency assistance program provides coverage to plan members on trips up to a maximum of 60, 90 or 120 days—but coverage can be extended at no cost for dependants going to school outside Canada. This happens automatically when plan administrators update plan member dependants’ attendance at an accredited post-secondary institution.
It is important to inform Empire Life of any students—over age or not—studying outside of Canada so coverage can be extended, if needed.
(Kingston, ON – October 26, 2023) – The Board of Directors of The Empire Life Insurance Company (Empire Life) today declared the following cash dividends:
|
Class |
Record Date |
Payable Date |
Amount of Dividend per Share |
|
Common shares |
November 10, 2023 |
December 5, 2023 |
Q3 2023 highlights (compared to restated Q3 2022)
