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.

SOURCE Canadian Life and Health Insurance Association Inc.

For further information: For further information: Media queries: Wendy Hope, Vice President, External Relations, (416) 777-2221, (416) 565-1853 (cell)

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