Canada’s life and health insurers support progressive trade agenda
News ReleaseRelease Date: 05/16/2017 Staff Reference: Wendy Hope
Ottawa, May 16, 2017 – As global leaders with significant international operations, Canada’s life and health insurers are strong supporters of the Canadian government’s international trade agenda. Today, CLHIA released a position paper outlining key trade priorities for the industry.
“The life and health insurance industry supports the Government’s efforts to increase our international trade”, stated Frank Swedlove, President and CEO of the Canadian Life and Health Insurance Association (CLHIA). “We’d like to see the Government finalize free trade agreements in key markets with a strong emphasis on financial services.”
Key trade priorities for the life and health insurance industry include: ensuring that the interests of Canada’s financial sector are well-represented in all of Canada’s free trade agreements; and, that agreements include coverage of new and emerging trade issues such as the cross-border flow of information and rules governing the commercial operations of State Owned Enterprises.
Three of Canada’s insurers rank in the top 15 insurance companies in the world and operate in over 20 countries “Our international operations bring clear benefits to Canadians and we look forward to working with the Government to ensure we continue to bring value to the Canadian economy.” 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 is very active internationally, with operations in over 20 countries. Canadian life and health insurers have over $800 billion worth of assets invested on behalf of foreign policyholders and payout almost $78 billion worth of benefits outside of Canada. 45 million individuals are protected by these foreign operations and 138,000 people are employed in support of Canadian operations abroad.
For more information, please contact:
Wendy Hope, Vice President, External Relations