Canadian life and health insurance industry welcomes Competition Policy Review Panel report



    OTTAWA, June 26 /CNW/ - The Canadian Life and Health Insurance
Association (CLHIA) welcomes the Competition Policy Review Panel's report,
Compete to Win. "The life and health insurance industry is pleased that the
report recognizes that it is vital for Canada to enhance its competitiveness
both domestically and internationally," said Frank Swedlove, President of the
CLHIA.
    The industry was particularly pleased with the Panel's recommendations
for:

    
    -   the continued reduction in capital, corporate and personal income
        taxes, as well as ensuring that Canadian companies operate on an
        equal footing abroad;
    -   the federal government providing leadership and working with the
        provinces in the elimination of all internal trade barriers; and
    -   the implementation of measures to ensure that Canadian companies have
        access to a skilled workforce.
    

    These recommendations are consistent with those made by the life and
health insurance industry in its response to the Competition Policy Review
Panel's Consultation Paper, Sharpening Canada's Competitive Edge.

    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. It also holds
more than $400 billion of assets in Canada and employs over 120,000 Canadians.





For further information:

For further information: Media enquiries: Wendy Hope, Vice President,
External Relations, (613) 230-0031


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