Empire Life

Empire Life

October 26, 2009 16:30 ET

Empire Life Appoints New Chief Investment Officer and Portfolio Managers

KINGSTON, ONTARIO--(Marketwire - Oct. 26, 2009) - The Empire Life Insurance Company (Empire Life) today announced the appointments of Gaelen Morphet, CFA as Senior Vice-President and Chief Investment Officer, Lieh Wang, CFA as Senior Portfolio Manager, and Nessim Mansoor, CA, CFA as Portfolio Manager.

All three individuals come to Empire Life with impressive qualifications and experience from well-known investment firms. Ms. Morphet has proven herself as a superior investment professional and team-builder throughout her 25-year career in the industry. All three will help form a key cornerstone of the Company's investment management team, having worked together for over five years at one of Canada's largest investment management firms. Together they have delivered superior investment returns across a multitude of investment strategies including Canadian equities, Canadian balanced, dividend income, and income trust. Employing a disciplined investment process and approach, Gaelen and her team have helped clients build wealth in good markets and, more important, helped preserve capital in bad and uncertain times.

"We are extremely pleased to announce these appointments," said Drew Wallace, Executive Vice-President, Retail, "Under Gaelen's leadership, and with the strong addition of Lieh and Nessim, the Empire Life Investment Management team will continue to work closely and conscientiously to manage our investments as it has throughout our more than 40-year investment management history; using a conservative, value-oriented philosophy and focus on capital preservation in the best interests of our customers and shareholders."

As Chief Investment Officer, Ms. Morphet will be responsible for the Empire Life segregated fund and general fund portfolios. She will also be responsible for managing selected assets of Empire's sister company, The Dominion of Canada General Insurance Company. Ms. Morphet will be a member of the Empire Life Executive Leadership Team and will be based in the Company's Investment Management offices in downtown Toronto, Ontario.

About Empire Life
A subsidiary of E-L Financial Corporation Limited, and in business since 1923, The Empire Life Insurance Company (Empire Life) helps Canadians build wealth and protect their financial security. The Company's success comes from a commitment to being approachable and responsive to the needs of its customers and business partners, consistently solid investment performance and faith in its employees as future leaders.

This news release may contain forward-looking statements about certain of Empire Life's current plans, goals and expectations relating to future financial conditions, performance, results, strategy and objectives. Statements containing the words: "expect", "continue", "anticipate", "may", "will", "could", "should", "would", "intend", "plan", "believe" and any other words of similar meaning are forward-looking. All forward-looking statements involve risk and uncertainty because they relate to future events and circumstances beyond the control of Empire Life. As a result, Empire Life's actual financial condition, performance and results may differ materially from the plans, goals and expectations set out in the forward-looking statements. The Company will not undertake any obligation to update any of the forward-looking statements in this news release or any other forward-looking statements that it may make.

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