E-L Financial Corporation Limited (“E-L Financial” or the “Company”) operates as an investment and insurance holding company. In managing its operations, the Company distinguishes between two operating segments, E-L Corporate and Empire Life Insurance Company (“Empire Life”).
E-L Corporate’s operations includes the oversight of investments in global equities held through direct and indirect holdings of common shares, investment funds, closed-end investment companies and other private companies. E-L Financial holds a 51.9% interest in a closed-end investment corporation, United Corporations Limited (“United”) which is listed on the Toronto Stock Exchange. United is an investment vehicle for long-term growth through investments in common equities. The invested assets and operations of United are consolidated and included in the E-L Corporate segment. In addition, E-L Corporate has two significant investments in associates including a 36.7% interest in Algoma Central Corporation and a 24.0% interest in Economic Investment Trust Limited.
The Company’s investment in Empire Life (99.3% interest) is consolidated by E-L Financial. The Empire Life operating segment underwrites life and health insurance policies and provides segregated funds, mutual funds and annuity products.
The Company’s strategy is to accumulate shareholder value through long-term capital appreciation and dividend and interest income from its investments. E-L Financial oversees its investments through representation on the boards of directors of the subsidiaries and the other companies in which the Company has significant shareholdings.
Address: 10th Floor, 165 University Avenue Toronto, Ontario M5H 3B8