Scotiabank Expands Canadian Insurance Offering and Launches New Customer Experience



    TORONTO, Feb. 9 /CNW/ - Scotiabank today announced the launch of
ScotiaLife Financial, the Bank's new Canadian insurance brand. Under this new
banner, ScotiaLife Financial will offer comprehensive creditor, travel and
life and health insurance.
    "We are excited about the opportunities within the Canadian insurance
industry," said Mark Cummings, Senior Vice-President and Head, Insurance
Canada, Scotiabank. "We see great potential and we are working to provide
comprehensive insurance solutions Canadians want and need. Given the current
economic uncertainty, we believe Canadians are looking to protect not only
their individual financial security but also their families', and we can help
in this regard."
    ScotiaLife Financial also announced the launch of their new term product,
ScotiaLife Term 1 Insurance. This new Life product provides Scotiabank
customers the opportunity to obtain flexible, affordable group insurance
coverage ranging from $50,000 to $1 million.
    "ScotiaLife Financial is committed to expanding its product offering,
such as the new ScotiaLife Term 1 product. Affordable and convenient solutions
that meet the unique needs of our Scotiabank customers are an essential part
of our strategy. We will continue to work to develop insurance solutions for
our customers," added Mr. Cummings.
    ScotiaLife Financial's launch also includes a new and improved Web
experience for Scotiabank's online-banking customers and a new public Web site
at www.scotialifefinancial.com that provides Canadians with information on its
existing and new product offerings.
    "Scotiabank has made insurance a strategic priority," said Mr. Cummings.
"What you are seeing with today's launch and what you will see more of in the
future is the investment the Bank is making to build on our already solid
insurance business. We are confident that we have what it takes to
successfully compete in this market and we are excited at the opportunities
ahead of us."

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With 69,000 employees, Scotiabank Group and
its affiliates serve approximately 12.5 million customers in some 50 countries
around the world. Scotiabank offers a diverse range of products and services
including personal, commercial, corporate and investment banking. With $508
billion in assets (as at October 31, 2008), Scotiabank trades on the Toronto
(BNS) and New York Exchanges (BNS). For more information please visit
www.scotiabank.com.





For further information:

For further information: Frank Switzer at (416) 866-7238, or
frank_switzer@scotiacapital.com


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