LIFE AND HEALTH INSURANCE INDUSTRY REACTS TO FEDERAL FALL ECONOMIC STATEMENT
News ReleaseRelease Date: 11/01/2016 Staff Reference: Wendy Hope
Toronto, November 1, 2016 – The Canadian Life and Health Insurance Association (CLHIA) welcomes the Federal Government’s focus on infrastructure to help drive economic growth. The Industry is particularly pleased that the Government intends to work closely with the private sector through an Infrastructure Bank to help fund projects. Regarding the Infrastructure Bank, Frank Swedlove, the CLHIA’s President and CEO, noted, “we are very hopeful that the new Infrastructure Bank will focus on a range of projects with varied size and scope so that all provinces and municipalities across the country can benefit. Canada’s life and health insurance industry stands ready to play a major role in building our infrastructure.”
The Canadian life and health insurance industry is one of Canada’s most important sources of long-term capital and holds close to $700 billion in long-term investments.
About the CLHIA
The CLHIA is a voluntary association whose member companies account for 99 per cent of Canada’s life and health insurance business. The industry provides a wide range of financial security products such as life insurance, annuities (including RRSPs, RRIFs and pensions) and supplementary health insurance to 28 million Canadians. It also holds close to $720 billion of assets in Canada and employs about 155,000 Canadians.
For more information please contact:
Wendy Hope, Vice President, External Relations