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SOURCE Canadian Life and Health Insurance Association Inc.
New document from Canada's life and health insurers provides blueprint
TORONTO, June 25, 2014 /CNW/ - Canada faces an estimated $400 billion infrastructure deficit that must be addressed if we are to grow our economy and support Canadians' standard of living. Today, the Canadian Life and Health Insurance Association (CLHIA) released a report, Get it Built: Fostering Economic Growth and Prosperity Through Enhancements to Canada's Long-term Investment Market, making recommendations on how businesses and governments can work together to build the infrastructure this country needs.
"From the hospitals that heal us to the bridges that link us, a robust infrastructure system is critical to economic growth and to maintaining Canadians' standard of living," said Frank Swedlove, President of the Canadian Life and Health Insurance Association (CLHIA). "Canadian life and health insurers have $540 billion in long-term assets in Canada. We are prepared to work with governments to invest in infrastructure and get these projects built."
The report notes that it is vital for governments to commit to working with the private sector to make sure these important projects continue to get built. It recommends a number of steps that provincial governments and the federal government can take to stimulate financing:
To find out more and to read the report, visit http://www.clhia.ca/get-it-built
About the CLHIA
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 almost 27 million Canadians. It also holds close to $615 billion of assets in Canada and employs about 142,600 Canadians.
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