Latest news with #EmpireLife
Cision Canada
12-05-2025
- Business
- Cision Canada
Empire Life expands its lineup of intelligent investment solutions with four new segregated funds featuring Fidelity investments Français
KINGSTON, ON, May 12, 2025 /CNW/ - Today, The Empire Life Insurance Company (Empire Life) launches four new segregated funds in its Guaranteed Investment Fund (GIF) contract to help customers build wealth through enhanced diversification in their investment portfolios. Two of the new segregated funds are the Empire Life Fidelity Global Income Portfolio GIF and the Empire Life Fidelity Global Growth GIF, rounding out our offering of managed solutions featuring Fidelity asset allocation solutions. The two additional new funds are: Empire Life Fidelity Insights TM GIF whose underlying fund manager, Will Danoff, with almost 40 years experience, employs a successful strategy of investing in companies undergoing strategic change that has the potential to unlock accelerated earnings growth. Empire Life Fidelity Multi-Asset Innovation GIF is a balanced fund that, through the underlying fund, will provide investors with access to March Schmell's investment style. This style focuses on dynamic exposure to some of the most innovative, growth-focused companies around the world while maintaining stability through exposure to multi-sector fixed income securities. All four funds are powered by Fidelity Investments Canada, an industry-leading and world-renowned global investment manager. "We strive to offer intelligent investment solutions to Canadian investors and are committed to identifying the best opportunities within the market," says Paul Holba, Senior Vice-President and Chief Investment Officer. "Further leveraging the expertise of a global leader in Fidelity to add to our existing lineup gives investors and their advisors more of the building blocks needed to produce diversified portfolios that help reduce risk and build wealth." To learn more, contact your advisor today, or visit ® Empire Life and Empire Life logo are registered trademarks of The Empire Life Insurance Company. Fidelity and Fidelity Investments Canada are registered trademarks of 483 Bay Street Holdings LP. Used with permission. TM A trademarks of 483 Bay Street Holdings LP. Used with permission. Policies are issued by The Empire Life Insurance Company. A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Any amount that is allocated to a Segregated Fund is invested at the risk of the contract owner and may increase or decrease in value. Please read the information folder, contract and fund facts before investing. Performance histories are not indicative of future performance. About Empire Life Established in 1923 and a subsidiary of E-L Financial Corporation Limited, Empire Life provides individual and group life and health insurance, investment and retirement products. The Company's mission is to provide expertise and intelligent solutions to help Canadians navigate life with confidence. As of December 31, 2024, Empire Life had total assets under management of $19.7 billion. Follow us on social media @EmpireLife or visit for more information. About Empire Life Investments Inc. Empire Life Investments Inc. is a wholly-owned subsidiary of The Empire Life Insurance Company. The company is the portfolio manager of certain Empire Life segregated funds.
Cision Canada
07-05-2025
- Business
- Cision Canada
E-L FINANCIAL CORPORATION LIMITED ANNOUNCES MARCH 31, 2025 FINANCIAL RESULTS
TORONTO, May 7, 2025 /CNW/ - E-L Financial Corporation Limited ("E-L Financial" or the "Company") (TSX: ELF) (TSX: (TSX: (TSX: today reported a net equity value per common share of $2,216.91 as at March 31, 2025, a decrease of 5.1% compared to $2,336.43 as at December 31, 2024 and an increase of 4.4% compared to $2,124.20 at March 31, 2024. For the three months ended March 31, 2025, E-L Financial reported a consolidated shareholder's net income of $86 million or $24.35 per common share compared to $547 million or $161.41 per common share in 2024. E-L Corporate E-L Corporate reported net income of $16 million for the first quarter of 2025 compared to $495 million in 2024. The decrease in earnings was due to a net loss on investments of $70 million in 2025 compared to a net gain of $629 million in 2024. E-L Corporate's global investment portfolio had a pre-tax total return, including dividend income, of 1% in 2025 compared to a pre-tax total return of 11% in the prior year. Empire Life Empire Life reported a net income of $70 million for the first quarter of 2025 compared to $52 million in 2024, driven by strong net investment and insurance finance results due to favourable interest rate changes in this period compared to the same period in 2024, as well as improved net insurance service results in the Individual Insurance product line. Empire Life's Life Insurance Capital Adequacy Test total ratio was 140% at March 31, 2025 compared to 151% at December 31, 2024, well above the requirements set by the Office of the Superintendent of Financial Institutions Canada as well as Empire Life's minimum internal targets. CONSOLIDATED SUMMARY OF NET INCOME (UNAUDITED) (1) Net of non-controlling interests and net income attributable to the participating account (2) Included in non-insurance investment results Non-GAAP Measures The Company uses non-GAAP measures including net equity value and growth in net equity value per common share to provide investors with measures of its operating performance that may not otherwise be apparent when relying solely on International Financial Reporting Standards ("IFRS Accounting Standards") financial measures. Net equity value per common share provides an indication of the accumulated shareholder value, adjusting shareholders' equity to reflect investments in associates at fair value, net of tax, as opposed to their carrying value. The growth in net equity value per common share and compounded annual growth in net equity value per common share is calculated as the change in net equity value per share for the respective period and includes dividends paid to common shareholders. The Company also uses assets under management to provide investors with supplemental measures of Empire Life's operating performance and to highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS Accounting Standards financial measures. The Company also believes that securities analysts, investors and other interested parties frequently use non-GAAP measures in the evaluation of issuers. About E-L Financial E-L Financial operates as an investment and insurance holding company. In managing its operations, E-L Financial distinguishes between two operating segments, E-L Corporate and Empire Life. E-L Corporate represents investments in stocks and fixed income securities held directly and indirectly through closed-end investment companies and other investment companies. The investment strategy is to accumulate shareholder value through long-term capital appreciation and dividend and interest income from its investments. Empire Life is a subsidiary of E-L Financial. Since 1923, Empire Life has provided individual and group life and health insurance, investment and retirement products to Canadians. Empire Life's mission is to make it simple, fast and easy for Canadians to get the products and services they need to build wealth, generate income, and achieve financial security. As of March 31, 2025, Empire Life had total assets under management of $20 billion.
Malaysian Reserve
29-04-2025
- Business
- Malaysian Reserve
Empire Life reports solid first quarter results
Q1 2025 highlights (compared to Q1 2024) Common shareholders' net income of $70 million (compared to net income of $52 million) Earnings per share (basic and diluted) of $71.11 (compared to $52.86) KINGSTON, ON, April 29, 2025 /CNW/ – Empire Life reported first quarter Common shareholders' net income of $70 million, an increase of $18 million compared to the first quarter of 2024, driven by an increase in Net investment and insurance finance results in the first quarter of 2025 compared to the same period in 2024, and Net insurance service results which improved over the prior year. These positive results were partly offset by higher workforce costs within Non-insurance operating expenses to support growth and continued investment in the business. 'We're pleased with our financial results for the first quarter of 2025. Our net income and new sales and deposits in our insurance and investment lines were solid,' says Mark Sylvia, President and Chief Executive Officer. 'Our Life Insurance Capital Adequacy Test (LICAT) total ratio also remains strong, in line with our expectations following the implementation of the new LICAT guideline for segregated funds. Our organization will continue to focus our efforts on providing great customer service and supporting the independent financial advisors who sell our products.' Financial highlights First Quarter (in millions of dollars except per share amounts) 2025 2024 Common shareholders' net income (loss) $ 70 $ 52 Earnings per share – basic and diluted $ 71.11 $ 52.86 Mar 31 Dec 31 Sep 30 Jun 30 Mar 31 Other Financial Highlights 2025 2024 2024 2024 2024 Return on common shareholders' equity(1) 18.1 % 17.4 % 24.0 % 12.7 % 10.4 % LICAT total ratio 140 % 151 % 154 % 152 % 157 % (1) See Non-IFRS measures section. The following table provides a summary of Empire Life results for the three months ended March 31, 2025 and 2024. For the three months ended (in millions of dollars) March 31, 2025 March 31, 2024 Insurance service result Insurance revenue $ 373 $ 339 Insurance service expenses (304) (282) Insurance service result 69 57 Net recovery (expense) from reinsurance contracts held (19) (18) Net insurance service result 50 39 Investment and insurance finance result Investment income (loss), excluding segregated fund account balances Investment income 165 (96) Change in investment contracts (7) (2) Net investment result, excluding segregated fund account balances 158 (98) Insurance finance income (expense), excluding segregated fund account balances Insurance contracts (78) 149 Reinsurance contracts held — 4 Net insurance finance income (expense), excluding segregated fund account balances (78) 153 Segregated fund account balances net investment and insurance finance result Investment income (loss) on investments for segregated fund account balances 48 442 Insurance finance income (expenses) segregated fund account balances (48) (442) Segregated fund account balances net investment and insurance finance result — — Net investment and insurance finance result 80 55 Other income and expenses Fee and other income 8 7 Non-insurance expenses (36) (21) Interest expenses (4) (4) Total other income and expenses (32) (18) Net income (loss) before taxes 98 76 Income taxes (24) (18) Net income (loss) after taxes 74 58 Less: net income (loss) attributable to the participating account 1 3 Shareholders' net income (loss) 73 55 Less: preferred share dividends declared and distributions on other equity instruments 3 3 Common shareholders' net income (loss) $ 70 $ 52 Empire Life reported Common shareholders' net income of $70 million in the first quarter of 2025, an increase of $18 million compared to the first quarter of 2024. The period over period increase was driven by strong Net investment and insurance finance results due to favourable interest rate changes in this period compared to the same period in 2024, as well as improved Net insurance service results in the Individual Insurance product line. Net insurance service result increased by $11 million in the first quarter compared to the same period in 2024. Contributing factors include improved mortality experience in the Individual Insurance product line relative to the first quarter of 2024, and some modest health claims experience improvements in the Group Solutions product line. Net investment and insurance finance result increased by $25 million in the first quarter of 2025 compared to the same period in 2024. This was mainly due to the favourable effect of interest rate decreases in the current period compared to the unfavourable effect of interest rate increases in the first quarter in 2024. The positive results due to interest rate changes were partly offset by less favourable net investment gains from non-fixed income assets in the first quarter of 2025 compared to the stronger results on these assets in the first quarter in 2024. Total other income and expenses was a net expense of $32 million in the first quarter, compared to a net expense of $18 million in the same period in 2024. The increase of $14 million is due to higher Non-insurance operating expenses related to workforce expenses. The company's Life Insurance Capital Adequacy Test Total ratio was 140% at March 31, 2025, well above the requirements set by the Office of the Superintendent of Financial Institutions, Canada as well as Empire Life's internal targets. Non-IFRS measures Empire Life uses non-IFRS measures including return on common shareholders' equity, assets under management, annualized premium sales, gross and net sales for segregated funds and fixed annuities to provide investors with supplemental measures of its operating performance and to highlight trends in its core business that may not otherwise be apparent when relying solely on financial measures as defined in IFRS Accounting Standards. Empire Life also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Empire Life's management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and to determine components of management compensation. Empire Life believes that these measures provide information useful to its shareholders and policyholders in evaluating the Company's underlying financial results. Further information on these non-IFRS measures can be found in Empire Life's latest Management's Discussion & Analysis (MD&A), filed on Empire Life's profile available at Additional information All amounts are in Canadian dollars and are based on the consolidated financial results of Empire Life for the period ended March 31, 2025. Additional information about Empire Life can be found in Empire Life's latest Management's Discussion & Analysis and Annual Information Form. These documents are filed on Empire Life's profile available at About Empire Life Established in 1923 and a subsidiary of E-L Financial Corporation Limited, Empire Life provides individual and group life and health insurance, investment and retirement products. The company's mission is to provide expertise and intelligent solutions to help Canadians navigate life with confidence. As of March 31, 2025, Empire Life had total assets under management of $19.6 billion. Follow us on social media @EmpireLife or visit for more information.
Malaysian Reserve
29-04-2025
- Business
- Malaysian Reserve
Empire Life announces 2025 first quarter dividends
KINGSTON, ON, April 29, 2025 /CNW/ – 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 May 14, 2025 June 5, 2025 $21.5719396 Non-Cumulative Rate Reset Preferred Shares, Series 3 June 17, 2025 July 17, 2025 $0.3866875 Empire Life advises that the above referenced dividends are eligible dividends for the purposes of the Income Tax Act, Canada and any similar provincial tax legislation. About Empire Life Established in 1923, Empire Life is a subsidiary of E-L Financial Corporation Limited. The company's mission is to provide expertise and intelligent solutions to help Canadians navigate life with confidence. As of March 31, 2025, Empire Life had total assets under management of $19.6 billion. Follow us on social media @EmpireLife or visit for more information.
Cision Canada
29-04-2025
- Business
- Cision Canada
Empire Life announces 2025 first quarter dividends
KINGSTON, ON, April 29, 2025 /CNW/ - The Board of Directors of The Empire Life Insurance Company (Empire Life) today declared the following cash dividends: Empire Life advises that the above referenced dividends are eligible dividends for the purposes of the Income Tax Act, Canada and any similar provincial tax legislation. Established in 1923, Empire Life is a subsidiary of E-L Financial Corporation Limited. The company's mission is to provide expertise and intelligent solutions to help Canadians navigate life with confidence. As of March 31, 2025, Empire Life had total assets under management of $19.6 billion. Follow us on social media @EmpireLife or visit for more information. SOURCE The Empire Life Insurance Company
