At Equitable Life, we're not your typical financial services company. We have the knowledge, experience and ability to find solutions that work for you. We're friendly, caring and interested in helping.
As a mutual company, Equitable Life is owned by participating policyholders, not shareholders. So we can focus on your interests and providing you with personalized service, security and wellbeing. Our participating policyholders share in our success - they are eligible to receive dividends supported by distributable earnings from all of our lines of business.
Financial strength and stability
Equitable Life’s financial success is a result of very strong growth and a conservative approach to investment. We take a conservative approach to risk and focus on longer term strategies that foster ongoing stability and growth for our policyholders and business partners.
In 2022, this approach continued to be successful as Equitable Life of Canada had the second highest earnings result in Company history, demonstrating the Company’s financial strength, as well as its ability to deliver on its strategic plan. Equitable Life realized earnings of $156 million, which resulted in dividends to participating policyholders increasing by 27% from the prior year to $100 million.
Equitable Life has one of the strongest capital ratios in the industry of 150% as measured by the Life Insurance Capital Adequacy Test (LICAT). This is significantly above the regulatory target, demonstrating that Equitable Life is well-positioned to meet current and future commitments to clients. The Company reported premiums and deposits of $2.2 billion in 2022. Assets under administration were $6.9 billion, up from the prior year despite challenging market conditions, reflecting a three-year compound annual growth rate of 11%.
Industry leading products
We work with independent advisors across Canada to offer a diverse lineup of competitive Individual Life and Health, Savings and Retirement and Group Benefits solutions to help you achieve your financial goals with confidence.
We believe in giving back to the communities in which we operate, and we support various charitable initiatives. Most notably, our annual United Way campaign helps make the communities we serve better, healthier and more caring places to live. Our employees consistently demonstrate tremendous generosity for our annual Adopt-a-Family initiative to support local families in need during the holiday season. We are also proud to be the National sponsor of Autism Speaks walks.