2015 Newfoundland and Labradour Budget Submission

Date de parution : 12/19/2017
Personne(s)-ressource(s) : Noeline Simon

Dear Minister:

Please find enclosed a submission from the Canadian Life and Health Insurance Association (CLHIA) on your forthcoming Budget.

Established in 1894, CLHIA represents life and health insurance providers accounting for 99% of the business in Canada. The life and health insurance industry is a major contributor to Newfoundland and Labrador’s economy. The industry directly employs almost 1,800 Newfoundlanders and Labradorians and has almost $13 billion invested in the province. The industry pays $960 million each year - or over $18 million per week - in benefits to Newfoundlanders and Labradorians through life and health insurance products including life insurance, annuities, RRSPs, disability insurance and supplementary health plans. The industry is an important contributor to the public finances in Newfoundland and Labrador, paying almost $45 million in taxes to the province.