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September 03, 2015 4:31 PM ET

Insurance

Company Overview of The Empire Life Insurance Company

Company Overview

The Empire Life Insurance Company underwrites life and health insurance policies in Canada. It operates through Wealth Management, Employee Benefits, and Individual Insurance segments. The company offers individual insurance products, such as non-participating and participating individual life and health insurance products; and benefit plans to employers, including medical, dental, disability, and life insurance coverage for their employees. It also provides wealth management products comprising segregated funds, mutual funds, guaranteed interest rate annuities, and annuities providing income for life. The company was founded in 1923 and is headquartered in Kingston, Canada. The Empire Life ...

259 King Street East

Kingston, ON K7L 3A8

Canada

Founded in 1923

Phone:

613-548-1881

Key Executives for The Empire Life Insurance Company

Chief Executive Officer, President, Director and Member of Risk & Capital Committee
Chief Financial Officer and Senior Vice President
Chief Investment Officer and Senior Vice President
Chief Technology Officer and Senior Vice-President
Senior Vice-President of Group Solutions
Compensation as of Fiscal Year 2015.

The Empire Life Insurance Company Key Developments

Empire Life Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Empire Life reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's net income was $35,951,000 compared to $30,769,000 a year ago. Net income increased $5.2 million compared to the prior year primarily due to the growth in segregated fund management fees and segregated fund guarantee fees related to guaranteed minimum withdrawal benefit products within the Wealth Management business and increased earnings on surplus. Revenue was $40,645,000 compared to $480,516,000 a year ago. For the six months, the company’s net income was $56,542,000 compared to $44,931,000 a year ago. Net income increased $11.6 million primarily due to the same reasons noted above for the second quarter. Revenue was $683,722,000 compared to $1,004,508,000 a year ago.

Empire Life Insurance Company Launches Simplified 10 and Simplified 20 Term Life Insurance for Online Sales

Empire Life Insurance Company announced that it has introduced new Simplified 10 and Simplified 20 term life insurance products designed specifically for online sales directly to Canadians through empirelife.ca, which can be accessed directly or through participating advisor websites. Consumers visiting empirelife.ca can estimate how much life insurance they need, decide what type of life insurance they want, get a quote, and if eligible, apply and purchase Simplified 10 or Simplified 20 term life insurance online. If consumers want more information, they can "click to chat" with an Empire Life customer service representative or connect with an insurance advisor for advice.

The Empire Life Insurance Company Signs an Agreement with MedExtra Inc. to Provide the Health Concierge Service to Customers

The Empire Life Insurance Company announced it has signed an agreement with MedExtra Inc. to provide the Health Concierge Service to customers who add Empire Life group critical illness to their benefits plans. The agreement took effect May 1, 2015. The Health Concierge Service is designed to complement its group critical illness insurance-one provides financial protection, the other provides medical, tactical, and emotional support.

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