Empire Life Announces Retirement of CFO, Gary McCabe

KINGSTON, ONTARIO--(Marketwired - April 4, 2016) - The Empire Life Insurance Company (TSX:EML.PR.A) announced today the retirement of Gary McCabe, CPA, CA, Senior Vice-President and Chief Financial Officer, effective April 30, 2016. Scott Ewert, CPA, CA, Vice-President and Chief Financial Officer of E-L Financial Corporation Limited, will assume the position of interim CFO.

"As CFO of Empire Life for the past eight years, Gary has provided exceptional oversight and guidance to the Company's operations, enabling us to focus on delivering the very best solutions for our customers and their evolving needs," said Mark Sylvia, President and Chief Executive Officer. "Gary's integrity and business acumen have been invaluable to our organization. On behalf of the entire team at Empire Life, I thank him for his contributions and wish him all the best in his retirement."

Empire Life has initiated a search process for the CFO position, and further information will be made available once an appointment has been made.

About Empire Life

Empire Life is a subsidiary of E-L Financial Corporation Limited. Since 1923, Empire Life has provided individual and group life and health insurance, investment and retirement products to Canadians. Our mission is to make it simple, fast and easy for Canadians to get the investment, insurance and group benefits coverage they need to build wealth, generate income, and achieve financial security. As of December 31, 2015 Empire Life had total assets under management of $14.5 billion. Follow Empire Life on Twitter @EmpireLife or visit our website, www.empire.ca for more information.