Canadian life and health insurers welcome jobs and growth budget initiatives

OTTAWA, March 4 /CNW/ - The Canadian life and health insurance industry welcomes the government's Jobs and Growth budget as they move ahead with their Economic Action Plan. "We believe this Budget reflects a balanced, responsible approach to the road to recovery," says Frank Swedlove, President of the Canadian Life and Health Insurance Association.

With respect to the financial sector, a number of important initiatives have been identified that will require further reflection and thought. "The life and health insurance industry is committed to working actively with the government in facilitating a stronger and more efficient retirement system, in reviewing Canada's payments system and in considering changes to the dispute resolution framework," added Mr. Swedlove.

Established in 1894, the CLHIA is a voluntary association whose member companies account for 99 per cent of Canada's life and health insurance business. The industry provides a wide range of financial security products such as life insurance, annuities (including RRSPs, RRIFs and pensions) and supplementary health insurance to about 26 million Canadians.

For further information: Media queries: Wendy Hope, Vice President, External Relations, [phone], [phone] (cell)