Company Announcements

KINGSTON, ON, May 29, 2024 /CNW/ - Today, The Empire Life Insurance Company (Empire Life) launches the Empire Life First Home Savings Account (FHSA) to help Canadians fulfil their dream of homeownership and six new segregated funds under its Guaranteed Investment Fund (GIF) contract.

The FHSA, introduced in 2023 by the Canadian government, is a registered savings plan that provides qualified first-time homebuyers with an opportunity to contribute up to $40,000 tax-free toward the purchase of a first home.

"We recognize a growing number of Canadians share the dream of homeownership," says Geoff Gibson, Vice-President, Investment Product & Marketing. "We're proud to offer the Empire Life FHSA as part of our GIF contract to help advisors support their clients and help them achieve their financial goals."

The six new segregated funds offer global exposure and deeper access to markets and regions for enhanced diversification opportunities. Certain new funds will offer investors dynamic exposure to some of the most innovative, growth-focused companies from around the world.

Two of the new funds, Empire Life Fidelity Global Innovators® GIF and Empire Life Fidelity Global Balanced Portfolio GIF, are sub-advised by Fidelity Investments Canada, offering Empire Life investors access to an industry-leading and world-renowned global investment manager.

"We're excited to offer investors these new segregated funds, leveraging the expertise of a global leader in Fidelity and the collective expertise of several prominent index and ETF providers," says Paul Holba, Senior Vice-President and Chief Investment Officer at Empire Life Investments Inc. "These new additions bolster Empire Life's existing segregated fund lineup to provide investors and their advisors the necessary building blocks to produce diversified portfolios to help reduce risk and build wealth."

New Empire Life Fidelity segregated funds

• Empire Life Fidelity Global Innovators® GIF—The fund's thematic investment approach targets companies with high return potential that are considered disrupters in their industry and innovators in today's rapidly evolving market.
• Empire Life Fidelity Global Balanced Portfolio GIF is a multi-asset global solution with a neutral mix of 60% equities and 40% fixed income designed for investors seeking a blend of growth and income. The fund employs active asset allocation across multiple dimensions of the portfolio to take advantage of market opportunities and mitigate risk.

New Empire Life index segregated funds – These funds are building blocks to help advisors and investors build portfolios to achieve their clients' long-term financial goals.

• Empire Life U.S. Large Cap Equity Index GIF
• Empire Life NASDAQ 100 Index GIF
• Empire Life Global Equity Index GIF
• Empire Life International Equity Index GIF

To learn more, contact your advisor today, or visit http://www.empire.ca/FHSA and www.empire.ca/our-funds/prices-performance

® Empire Life and Empire Life logo are registered trademarks of The Empire Life Insurance Company. Fidelity, Fidelity Investments Canada, and Fidelity Global Innovators are registered trademarks of 483 Bay Street Holdings LP. Used with permission.

Nasdaq®, Nasdaq 100 and Nasdaq 100 Index are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by The Empire Life Insurance Company. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

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.

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 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 June 30, 2023, Empire Life had total assets under management of $18 billion. Follow us on social media @EmpireLife or visit empire.ca for more information.

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. 

SOURCE The Empire Life Insurance Company