Subsidiary | |
Traded as | : ELF : ELF.PR.F : ELF.PR.G |
Industry | Insurance |
Founded | Toronto, Ontario, Canada, 1923 |
Headquarters | Kingston, Ontario, Canada |
Key people
|
Mark Sylvia, President and CEO Duncan N.R. Jackman, Chairman of the Board of Directors |
Products | Insurance, Investment |
Number of employees
|
900 |
Parent | E-L Financial Corporation |
Subsidiaries | Empire Life Investments Inc. |
Website | http://www.empire.ca/ |
The Empire Life Insurance Company (Empire Life or Empire Vie) is a Canadian life insurance and financial services company with its headquarters in Kingston, Ontario, Canada. It was incorporated in 1923 and is a subsidiary of E-L Financial Corporation Limited of Toronto, Ontario, Canada. The company provides individual life, health and investment products as well as group life and health products through independent distribution partners including financial advisors, management general agents, national account firms and employee benefit producers. Empire Life is the parent company of Empire Life Investments Inc, a Canadian investment management company launched in 2011.
Founded in 1923 by Milton Palmer Langstaff, The Empire Life Insurance Company has grown to become one of the top 10 life insurance companies in Canada.
In 1929, Empire Life merged with The Commonwealth Life and Accident Insurance Company. This merger was followed by the acquisition of The Canadian Order of Odd Fellows insurance portfolio in 1934, and a subsequent merger with the Mutual Relief Life Insurance Company in 1936. Following the acquisition of the Mutual Relief Life Insurance Company, the company's head office moved from Toronto, Ontario to Kingston, Ontario.
In 1968, E-L Financial Corporation Limited acquired 94% of the outstanding shares of Empire Life. In 1987, E-L Financial acquired The Montreal Life Insurance Company, as well as the life insurance operations of The Dominion of Canada General Insurance Company, and adopted the marketing name of Empire Financial Group.
As part of this acquisition, Empire Life became a subsidiary of the holding company, E-L Financial Services Limited which owns 98.3% of the company. The remaining 1.7% of Empire Life common shares are widely held by various individual shareholders. E-L Financial Services Limited is 100% owned by E-L Financial Corporation Limited.