The Empire Life Insurance Co. reported consolidated shareholders’ net income for 2001 of $37.2 million. The company’s annual general meeting was held Wednesday in Toronto.

Overall net operating income of $28.5 million, down from $34.9 million in 2000, is expected to grow steadily throughout 2002, as a result in part of broadening the distribution of individual products among Empire’s Independent Financial Advisor and Managing General Agent channels.

Positive sales growth within the individual insurance line has already resulted, particularly over the last quarter of 2001. The company’s Employee Benefits line of business again saw record sales results.


The integration of operations between Empire and its subsidiary, Concordia Life Insurance Co., continued through 2001, under the leadership of new president and CEO, Doug Hogeboom and culminating with a successful amalgamation on January 1, 2002.

“We will continue integrating the business from our former subsidiary, Concordia Life Insurance Co, into our operations and providing superior service delivery to our distribution partners and our clients,” said Hogeboom.

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