Website: empire.ca
Head office address (Canada): 259 King St. E., Kingston, ON, K7L 3A8
Year established: 1923
Ownership structure: Canadian-owned subsidiary of E-L Financial Corporation Limited (TSX-listed), controlled by the Jackman family
Target market/client profile: small to mid-sized Canadian employers, individual policyholders, and financial advisors seeking life insurance, group benefits, investments, and group retirement savings
Number of professional staff: 1,250+
Canadian office locations: Kingston (head office), Toronto, Montreal, and Burlington
The Empire Life Insurance Company (Empire Life) is a Canadian life insurer based in Kingston. It serves over 610,000 individual customers and around 6,300 employer groups with insurance, investments, and group benefits. The company held more than $19.6 billion in total assets as of December 31, 2024.
The Empire Life Insurance Company launched in Toronto in 1923 with founder Milton Palmer Langstaff and four business partners. The company took its name to represent:
The firm then merged with The Commonwealth Life and Accident Insurance Company in 1929 and Mutual Relief Life in 1936. The insurer moved its head office to Kingston after that second merger and still operates from there today.
The firm entered the employee benefits market in 1964 and started selling segregated funds four years later. The company became part of the Jackman family's E-L Financial Corporation Limited in 1970.
It then merged with Montreal Life and Dominion of Canada General's life insurance arm in 1987. The combined group adopted the name Empire Financial Group and crossed $1 billion in life insurance in-force.
The group spent the 1990s acquiring policy blocks from carriers like Metropolitan Life, Colonia Life, and Citadel Life. It rebranded as Empire Life in 2006 after two decades as Empire Financial Group.
The insurer then launched Group eClaims in 2013 and added telemedicine to its benefit plans in 2020. The firm received a ratings upgrade from Stable to Positive by DBRS Morningstar in 2025.
Empire Life hosted its third annual industry outlook webinar in early 2024 with CLHIA and The Conference Board of Canada. The event's live poll of more than 600 advisors found that 56 percent prioritize balancing benefit costs with plan enhancements.
Two of the company's group VPs, Vanessa Lycos and Christine Wyatt, also discussed how benefit plan priorities are changing. The two said mid-sized carriers often have more room to tailor plans for different employer segments.
Empire Life gears its products toward small to mid-sized Canadian employers and individual policyholders:
The company also runs mutual funds and financial services through subsidiaries Empire Life Investments Inc. and TruStone Financial Inc. It works with more than 42,800 advisors, brokers, and dealers across Canada.
Mark Sylvia is president and CEO of Empire Life and chairs the board of Empire Life Investments. He founded insurance consultancy Clarity Underwriting Managers in 2010 before joining the company four years later. Sylvia holds FCIP and FLMI designations and spent over 20 years leading Echelon General and Hartford Life.
Sylvia leads Empire Life's executive team:
A 10-member board of directors governs Empire Life, supported by two honorary positions. The board includes as of 2026:
The board operates under a Code of Business Conduct with policies on disclosure, insider trading, and risk management. Empire Life files regulatory returns with OSFI and shares financial updates through its investor relations page.
Empire Life's group clients are primarily small to mid-sized employers across Canada. The insurer's plans cover more than 150,000 group members through those employer clients. The firm writes business only in Canada and does not operate in any other market.
The company ranks among Canada's top 10 life insurance companies based on total assets in OSFI filings. It runs regional sales teams across:
The insurer's LICAT ratio stood at 151 percent as of December 31, 2024, above OSFI's 90 percent minimum.
Plan sponsors and brokers can earn continuing education credits through Empire Life University. The company also publishes investment commentaries and fund performance reports for its advisor network.
Empire Life has been recognized by Benefits and Pensions Monitor (BPM) for leadership in the group benefits space. The company also takes part in industry associations and community programs across Canada.
BPM named 43 top professionals to its inaugural Hot List in 2023. Michael Perry, then SVP of group solutions at Empire Life, was featured on the list.
The publication's Elite Women 2024 list honoured 45 women leaders in the Canadian financial services industry. Christine Wyatt, VP of distribution for group solutions, was among those recognized.
For more award coverage and industry recognition, visit our Best in Pensions and Benefits page.
Empire Life is part of these groups:
The insurer invested over $475,600 in Canadian communities in 2023 across four focus areas. The company supports community well-being, health research, education, and arts and culture programs.
Empire Life VPs Vanessa Lycos and Christine Wyatt explain how the philosophy around benefits is changing in the workplace
Industry panel spotlights evolving priorities in employee benefits
'It's going to take affirmative action to keep costs down'
How are plan sponsors upgrading benefits in this period of polycrisis?
