Empire Life

Empire Life is controlled by the Jackman family through E-L Financial Corporation, a publicly traded Toronto Stock Exchange holding company where the Jackmans retain voting control via a dual-class share structure. Duncan N.R. Jackman serves as Chairman and CEO of E-L Financial. His father, Henry N.R. (Hal) Jackman, is the former Chairman and remains a major shareholder.

The Jackman family's multi-generational control and the permanent nature of insurance float allow Empire Life to hold concentrated positions — notably in Granite REIT and Allied Properties REIT — through full market cycles without redemption pressure. This approach, visible in E-L Financial's public filings, mirrors permanent-capital strategies more commonly associated with Berkshire Hathaway or Fairfax Financial than with typical Canadian life insurers.

Canoe Financial serves as a strategic partner to Empire Life, co-developing and managing segregated fund products. World Financial Group acts as a distribution partner, marketing Canoe EL Protection Portfolios to retail investors across Canada. These relationships extend Empire Life's asset-gathering reach beyond its direct insurance sales channels.

E-L Financial Corporation effectively functions as the Jackman family's primary investment vehicle, with Empire Life Insurance representing its largest operating subsidiary. The family's wealth is interwoven with the conglomerate's balance sheet rather than siloed in a discrete family office — though the Hal Jackman Foundation, a philanthropic entity, and the family's art collection are held separately.

Through E-L Financial, the Jackman family holds significant positions in Granite REIT, a global industrial property owner, and Allied Properties REIT, a major Canadian urban office landlord. Empire Life also owns its historic headquarters building at 259 King Street East in Kingston and maintains a Toronto office at 200 Bay Street.

Empire Life's investment portfolio is concentrated in public equities, fixed income, and direct commercial real estate. There is no public record of the firm operating a dedicated venture capital or private equity program, though the permanent-capital structure of its balance sheet means private-market allocations could theoretically be added without structural change.

The Hal Jackman Foundation is the family's primary philanthropic vehicle, separate from Empire Life's corporate Community Investment Program. Hal Jackman, former Lieutenant Governor of Ontario, established the foundation to support arts, education, and healthcare causes in Canada. The foundation operates independently from the insurance company's balance sheet.