LIFE AND HEALTH INSURANCE INDUSTRY SUPPORTS COMMITMENT TO LOWERING DRUG COSTS FOR CANADIANS
News ReleaseRelease Date: 03/22/2017 Staff Reference: Wendy Hope
Ottawa, March 22, 2017 -- The Canadian life and health insurance industry is pleased that the government has acknowledged that prescription drug prices in Canada are too high and is committed to making investments to lower drug costs for Canadians. “The life and health insurance industry shares these concerns and looks forward to working with the government to lower drug costs for Canadian families,” notes Frank Swedlove, President and CEO of the Canadian Life and Health Insurance Association (CLHIA).
The industry is also pleased with the government’s plan to accelerate the creation of the Infrastructure Bank. With over $690 billion in long-term investments, the life and health insurance industry is already a significant investor in Canada’s economy. “We look forward to working closely with the new Infrastructure Bank and helping to fund the needed investment in Canada’s infrastructure,” added Mr. Swedlove.
About the CLHIA
Established in 1894, the CLHIA is a voluntary association whose member companies account for 99 percent 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 $760 billion of assets in Canada and employs about 150,000 Canadians.
For more information please contact:
Wendy Hope, Vice President, External Relations